Mazooma Inc.

PETCO

PETCO

October 19, 2009 10:00 ET

Mazooma Partners With PETCO.com to Provide Instant Debit Transactions to Online Shoppers

MIAMI, FLORIDA--(Marketwire - Oct. 19, 2009) - Mazooma, the first real-time online debit payment solution for U.S. consumers, today announced that PETCO, the nation's leading pet specialty retailer, has signed an agreement to integrate the Mazooma solution on its Web site, PETCO.com. PETCO will now be able to provide a real time, bank authenticated debit payment option for its U.S. consumers, allowing online shoppers to easily and securely pay for their purchases with cash.

With more than $55 million in annual online sales and nearly 2 million monthly visitors to PETCO.com, PETCO offers a wide range of products and services to animal lovers across the U.S. By integrating Mazooma into its checkout page, PETCO's customers will be able to use their online checking accounts to make secure, immediate payments for goods and services.

"We strive to make being a great pet parent as easy as possible, so we're pleased to provide a simple and convenient way for our customers to make purchases from PETCO.com directly from their banks, without the need for credit cards," said John Lazarchic, VP of E-Commerce for PETCO.

Mazooma enables consumers to pay merchants directly from their online banking as part of the checkout process. This allows merchants to extend their services to customers who want to make purchases without using credit. Additionally, merchants receive instant authorization, which allows them to ship orders immediately and increases customer satisfaction and loyalty. Currently, Mazooma supports more than 70 percent of all consumer bank accounts in the U.S. and has no jurisdictional limitations.

"PETCO is a well known and trusted name in pet products and services," said Paul Phillipson, Managing Director USA at Mazooma. "The integration of Mazooma will allow PETCO to expand its online payments options to their customers, and stay ahead of the curve by including an option for consumers that can't, or don't want to, pay with credit."

About Mazooma

Mazooma was founded to provide consumers and merchants with a safe, secure and convenient bank account payment channel for online shopping. The e-Commerce industry has long recognized that current online payment systems do not provide a platform to service the millions of consumers who cannot or will not use a credit card online. To serve this market, Mazooma developed a system that combines the security and comfort of online banking with the convenience and speed of a simple payment checkout process. Mazooma provides consumers with an instant and safe way to pay for online purchases directly from their bank accounts - authorized through the financial institutions they know and trust. Mazooma provides online merchants with a new way to reach customers and increase revenue, all while reducing their costs of payment processing. For more information, visit http://www.mazooma.com.

About PETCO

PETCO is a privately held specialty retailer that provides products, services and advice that make it easier for our customers to be great pet parents. We operate more than 950 stores in 50 states and the District of Columbia, as well as a leading pet products and information destination at www.PETCO.com. Our nonprofit organization, The PETCO Foundation, has raised more than $55 million since its inception in 1999 to help promote and improve the welfare of companion animals. In conjunction with the foundation, we work with and support more than 6,200 local animal welfare groups across the country to help find homes for more than 200,000 adoptable animals every year.

Contact Information