6 Ways HAZZA Can Bring Growth to Payment Channels
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 a closer look into how merchants can benefit. We foresee that by 2025, an estimated USD 30 billion savings can be realized on technology costs and another USD 250 billion on economic value.
In this blog post, we looked into the 6 ways payment channels can grow with HAZZA Network:
Access to Clients/Merchants The existing payment ecosystem potentially limits client networks and sales channels. With HAZZA’s mission of a one size fits all open API, the payments market is now open and transparent, allowing payment channels to access all clients/merchants who are connected to HAZZA Network.
Discovery and Engagement Process Unfortunately, the engagement process with new clients is long and complicated where the chances of closing a partnership in one meeting is slim. Partnering with HAZZA brings efficiency to payment channels as they are able to right away discover and engage with suitable clients and merchants.
Time and Effort Leaders amongst the payment channels may not have issues with brand presence, but for those up and coming services looking to break into the market, it can be difficult to gain trust right away with merchants. Because HAZZA is able to provide real time, instant engagement based on predefined business criterias, payment channels can engage with clients and merchants who deemed fit for their services. Moreover, the API calls for standard integration resulting in less time spent on onboarding.
KYC Process What merchants are afraid of in the existing payment ecosystem is the 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. This brings about cost effectiveness to both payment channels and merchants.
Difficult to Manage To payment channels, anyone who deals with monetary transactions is a potential client. This huge pool of clients can become difficult for payment channels 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 payment channels and merchants tend to be passive and static. Ultimately, payment channels want to be readily available wherever consumers are. Plugging into HAZZA Network encourages dynamic engagement where payment channels have access to an open network. In such cases, payment channels that are proactive will be able to seize this opportunity to create a synergy with merchants.
For payment channels, HAZZA Network is the solution to reaching more clients and growing its business at a lower risk. Reach out to us today to learn more!