6 benefits Merchants gain with HAZZA
HAZZA Network was built while thinking through the challenges in the payments ecosystem, and how to overcome them. Previously we shared what are the potential benefits, and approximately US$450 billion on transaction cost can be saved by merchants.
In this blog post, we looked into 6 benefits merchants can gain by plugging into HAZZA Network:
Access to services/channels The existing payment ecosystem can seem like a “blackbox” to merchants, and they are more often faced with limited access and options to services and channels in the market. With HAZZA’s mission of a one size fits all open API, the payments market is now open and transparent. Merchants are also able to reach any partners.
Discovery and Engagement Process Unfortunately, not all merchants are equipped with knowledge about the payments market. For many, dealing with payments is seen as a long and complicated process. Partnering with HAZZA brings efficiency to merchants as they are able to right away discover and engage with suitable payment providers.
Time and Effort The long process of dealing with new payment providers means that it takes a long time for merchants to reach a new group of consumers. Because HAZZA is able to provide real time, instant engagement based on predefined business criteria, merchants require minimum effort to engage with a new payment provider. Moreover, the API calls for standard integration resulting in less time spent on onboarding.
KYC Process Most payment providers in the existing payment ecosystem have a complex KYC process. As we know this is a pain point, the HAZZA Network was built to streamline the KYC process and made it mutual as well.
Difficulty to Manage Merchants tend to be on the losing end against the big payment providers. With so many non-cash solutions available, it becomes difficult for merchants to manage. HAZZA Network is a self-regulated and transparent community built with secure and trust control mechanisms.
Service Engagement Management Today, the relationship between merchants and payment providers tend to be passive and static. Moreover, if there is an error with the payment provider, there is a chance where merchants may have to turn away business if consumers do not have cash with them. Alternatively, plugging into HAZZA Network encourages dynamic engagement. When one payment option is unavailable, merchants can switch to another where the consumer is comfortable with.
For merchants, HAZZA Network is the cheaper, simpler and universal solution that solves the challenges of the payments industry. Reach out to us today to learn more!