A new product was announced by Zuora Inc., formed by Software-as-a-Service (SaaS) industry veterans from salesforce.com and WebEx to revolutionize the online subscription industry. The new solution known as Z-Payments is the first complete payment solution developed for subscription businesses.

The service will be equipped to support PayPal payment option. With such a powerful combination subscription businesses will be able to offer their customers flexible and secure online payment options, manage the complexities of collecting recurring subscription payments, and ultimately get paid faster.

Z-Payments allows subscription companies to facilitate tangled procedures associated with recurring payments all in one complete solution. With the solution businesses can accept payments online through popular payment gateways, accept traditional payments such as check or wire transfer, manage recurring payments unique to subscription businesses, automate exception handling around any payment issues and view customer account balances and shorten collection cycles.

Z-Payments is the second product of Zuora, Inc. The first company product Z-Billing was introduced earlier this year in May