In its second-largest acquisition, Amazon buys the company for $970 million.
Monster Offers’ ZalaPay to speed deal purchases.
Offering daily deals to consumers on their smartphones makes a lot of sense for many retailers. But unlike in the online realm, making it easy for consumers to complete a purchase via mobile devices can be a challenge.
That’s why Monster Offers, a daily deal aggregator, is debuting ZalaPay. Mobile app versions of the mobile and card payment service will be available for Apple Inc., Android, BlackBerry and Nokia devices, a spokesman says. Consumers will load funds from existing financial accounts into their ZalaPay accounts; they can spend the money at participating merchants online, or at stores using a ZalaPay prepaid debit card that carries the Visa brand.
“ZalaPay works like any prepaid debit card for the consumer, and merchants can receive payments without any changes or added hardware,” the spokesman says. Merchants pay no direct cost to participate. Monster Offers earns revenue from paid subscriptions to its deals analytics service for merchants, and commissions paid to Monster Offers on deals originating on other sites but sold through Monster Offers.
Participating merchants get access to Monster Offers redemption and loyalty programs, the ability to set up deals, and the ability to re-market offers to consumers who previously purchased one of the merchant’s deals. This will help bring in new customers and help turn one-time customers into repeat customers, the spokesman says.