Zenobia Pay is a fintech company that enables luxury brands and jewelers to accept pay-by-bank transactions through an instant clearing network. Zenobia Pay offers a payment solution that lets merchants process direct bank transfers at a fee of 1%, significantly lower than traditional credit card processing fees, which average around 3%.
The platform is designed for seamless consumer experiences, allowing customers to complete purchases via bank transfer without the need to manually enter account numbers or download additional apps. The mobile payment flow is accessible on iPhone and features cryptographic device signing for enhanced security, making bank accounts harder to spoof and enabling additional protections against bots.
Zenobia Pay also bundles fraud insurance with each transaction, providing luxury merchants greater peace of mind. For resellers and in the secondary market, Zenobia Pay leverages purchase metadata as digital proof of purchase throughout the lifespan of high-value goods. This enables features like verification royalties and ongoing fraud protection, which are especially relevant in luxury goods and jewelry, where counterfeiting and provenance are major concerns. The latest company update, outlined in their blog post 'The Quiet Threat: Counterfeit Jewelry Networks', highlights the growing risks in this sector and Zenobia Pay's focus on new trust and verification models.
How Was Zenobia Pay Started?
Zenobia Pay was co-founded by Ryan Prendergast and Theodore Li. Their mission is to make online transactions significantly more affordable by bypassing high credit card interchange fees and delivering a secure, instant pay-by-bank experience tailored for luxury markets.
Who Uses Zenobia Pay?
Zenobia Pay is primarily targeted at luxury retailers, jewelers, and resellers who need secure, cost-effective payment solutions and robust fraud protection. The platform is particularly valuable for merchants dealing with high-ticket items where transaction fees and authenticity verification are critical.
What Makes Zenobia Pay Different?
- Charges 1% transaction fees (compared to standard 3% credit card fees)
- Instant clearing pay-by-bank network with bundled fraud insurance
- No need for customers to handle bank account numbers or download an app
- Designed for secondary markets: purchase metadata provides digital proof and enables royalties/fraud protection
- Cryptographically signed mobile flows for advanced bot and spoofing protection
- Conditional payments and advanced verification tools for luxury goods
Use PromptLoop to Uncover Company Data
Looking for more company insights like this? PromptLoop helps you go deeper, providing unique data points and analysis on companies like Zenobia Pay and many others. Automate your research and find the information that matters most. Discover how PromptLoop can accelerate your market intelligence. Get A Free Demo to learn more.