Zen Overview: Cards for Better Shopping Experience
What is ZEN?
ZEN is a global fintech company and EMI (electronic money institution) established in Poland in November 2020. According to Dawid Rożek, the founder of the company, the name "ZEN" means "zero-effort non-bank," which implies that this EMI was established to help its customers manage their finances in an effortless manner. The company was granted a digital money licence by the Central Bank of Lithuania. Today, through its strategic partnership with Mastercard, ZEN offers financial services in more than 30 countries, most of them in Europe.
The mission of ZEN is to provide customers and business owners peace of mind in the management of their finances and purchases through the use of the latest technologies and a user-friendly interface. In order to accomplish this, ZEN offers a full range of digital products and services, including a Mastercard card for payments, a mobile app and digital platform for online transactions, a multi-currency account, enhanced customer protection, as well as other special perks (also known as "Zenefits"). It also provides a mobile app for these services.
Is ZEN Safe?
ZEN is a secure and safe digital platform. It complies with many international standards for card data security and payment processing. For example, it is PCI DSS Certified Service Level 1, and its mobile app comes with advanced features for securing your account and restricting or blocking your ZEN card.
With ZEN, you do not need to worry about your payments. Whether you intend to use cards or m-wallets, ZEN is a safe platform for online and offline transactions. It allows you to use over 20 payment methods, including Mastercard, VISA, PayPal, Paysafecard, Google Pay, Apple Pay, and instant bank transfers, which are secure and safe options you can use with your ZEN card.
Pros
- Affordable and user-friendly payment gateway for businesses
- Supports over 20 payment methods at the best rates
- 24/7 friendly support with a mission to make you at peace
- 0% currency exchange fees
- Multicurrency account for up to 30 currencies
- Contactless ZEN Mastercard card for shopping and other payments
- Free physical and virtual cards for you and your team
- Free ATM withdrawals
- Allows businesses to offer irresistible cashback through partnership
- Up to 15% instant cashback to help you save more
- Easy-to-use mobile app on Google Play, AppGallery, and the App Store
Cons
- No support for cryptocurrency (but can use an external service provider)
- Not available in many countries outside Europe
Who is ZEN For?
ZEN is an electronic money service for business owners, entrepreneurs, and private individuals who are tired of traditional banks. These people trust ZEN because it promises to give them peace of mind by allowing them to carry out effortless transactions powered by modern technology. It offers them a current account and an online platform for managing their money and payments.
ZEN Business options
Business owners, managers, and entrepreneurs can create a ZEN Business account to enjoy a wide range of services and perks. They can use its dedicated plugins to make and receive fast and secure payments peacefully; free SWIFT and SEPA transfers are allowed. Also, they can get up to 15% cashback on their business purchases (only at ZEN partners), exchange currencies at 0% fee, obtain 24/7 customer support via ZEN Care, and receive a one-year extended warranty on purchases made electronically using the ZEN Mastercard card.
If you already have an existing e-commerce platform, ZEN can start accepting payments right inside of it. That means it saves you from having to stress yourself by writing codes or adding various methods of payment individually. You simply need to install any of ZEN’s supported payment plugins and the payment gateway (ZEN checkout) will be integrated into your platform through an automated process.
ZEN offers different account categories for its business banking product. They are Creative, Smart, Enterprise, and Supreme, which are available at a price of €10, €25, €100, and €500 per month, respectively. Irrespective of the category of account you open, you can get free physical and virtual cards, as well as IBAN accounts in EUR, GBP, USD, and more than 30 other currencies. However, some terms and conditions apply.
ZEN Personal options
If you are not into business, ZEN still has products and services for you through its personal account options. This EMI promises to make your shopping and money management experience more "ZEN," that is, more peaceful, through its online platform, mobile app, as well as physical and virtual cards.
You can use its website or mobile app to create a free personal account, which has a €0 monthly maintenance fee with limited services. Better still, you can go for a plan that offers more perks by subscribing to its Gold (€0.9/month), Platinum (€6.9/month), or Titanium (€19.9/month) accounts for individuals.
Generally, with a ZEN personal account, you can get a one-year warranty boost on your Mastercard card and enjoy 24/7 services from ZEN Care with its built-in shopping protection service through which it speedily handles all problems related to your transactions with merchants. Also, it allows you to get up to 15% cashback on your personal expenses charged on the ZEN card. Some of ZEN’s partners include AliExpress, Udemy, Wish, and Rentalcars.com. Besides, your currency exchange and ATM withdrawals will be free of charge with a ZEN personal account. Nevertheless, some terms and conditions apply, and you should see the pricing or a detailed breakdown of its fees for ZEN personal (individual) account services.
FAQ
ZEN is licensed as an electronic money institution to provide a current account and a digital payment platform for individuals and businesses. It helps them obtain physical and virtual cards for shopping and other transactions at attractive rates.
You can use its digital platform (website) to create a ZEN account by clicking on the line “Open your ZEN account” and following the steps that will be provided. You can choose to open a “Payment gateway with banking account” for selling products online or a “Business banking account” for managing your company’s finances. An alternative is to use its mobile app, especially if you want a personal account.
You can submit a request to ZEN support using this link.
ZEN provides a business account for you and your team. However, it is not clear whether it allows multiple users of one business account. In this case, you should contact ZEN support.
To open a ZEN account, your business must be registered in any of the following jurisdictions: Austria, Croatia, Cyprus, Denmark, Estonia, Finland, France, Greece, Guernsey, French Guiana, Guadeloupe, Saint Martin (French part), Slovakia, Slovenia, Switzerland, Sweden, Hungary, Italy, Poland, Portugal, Czech Republic, South Africa, Réunion, Romania, Spain, the Netherlands, Ireland, Iceland, Belgium, Bulgaria, China, Jersey, South Korea, Liechtenstein, Lithuania, Luxembourg, Latvia, Mayotte, Malta, Martinique, Monaco, Germany, Norway, New Zealand, Isle of Man, Åland Islands, United Kingdom.
Conclusion
ZEN was founded on a strategic partnership with Mastercard and is duly licenced as a financial institution by the Central Bank of Lithuania. As a result, it began on a solid foundation for money management and payment processing. It is a fintech startup that allows individuals and businesses to securely use physical and virtual cards in technologically enhanced ways that bring peace of mind to them. Besides, many of its products and services are available free of charge, and this EMI offers a lot of perks. We encourage you to test the zero-effort nonbank experience promised by ZEN today. Besides, the platform offers a seven-day free trial for interested users.
