Zozi claims major breakthrough for payments in toursNewsBy Kevin May | November 18, 2015Share This article was originally published on Could be a big day for the tours and activities sector - Zozi claims it has solved one of the major problems facing small suppliers of product.With thousands of suppliers still working on cash payments or using multiple platforms for credit cards, tours and activities is often seen as lagging behind other areas of the industry as connections are unwieldy or unachievable from a cost perspective.This is even more acute when it comes to issues around credit card fraud.So, in an apparent industry first, the US-based company has this week launched an upgrade to its Zozi Advance platform, the suite of services for its B2B customers, with an app so operators can take reservations and collect EMV-compatible payments (Europay, Mastercard, Visa) from customers on a mobile device.In other words, activity suppliers that often operate their businesses in real-time, with walk-up customers, will be able to scan a traveller's credit card using the Zozi Advance app and take an EMV payment.The idea is that the app will reduce wait times, allow customers to pay using an EMV-compliant mobile chip and pin reader and take electronic signatures for waivers.Barcode scanning, voucher redemption are inventory management tools are also included in the app (iOS for now, Android to come).Previously, many small businesses would have used a separate online payment gateway, credit card terminal or point-of-sale system in order for them to take payments.T J Sassani, Zozi CEO and founder, says credit card fraud has doubled in recent years years, with it hitting businesses to the tune of $10 billion annually. "Many businesses lack the time and money to handle the expensive and complex EMV upgrades. "It’s estimated that 40 percent of the world’s cards already use the EMV chip standard, with nearly 85% of Euro Zone 1 cards having chips. "The US chip card adoption rate is rapidly reaching the European rate, meaning non-compliant merchants are increasing their exposure everyday."Share this quote The launch of the payment technology comes four months after the company raised $30 million in funding from a string of investors, including Virgin Group founder Richard Branson - bringing the company's total funding so far up to $50+ million.At the time, Zozi's round was the single largest investment in tours and activities to to date, until GetYourGuide's monster windfall last week of $50 million.