HAZZA Network

GLOBAL UNIFIED PAYMENT NETWORK

Revolutionize the entire payment ecosystem

Drive financial inclusion

HAZZA Network Update

HAZZA, the Global Unified Payments Network is proud to announce an increased coverage of payment acceptance on the network for its growing merchant and Payment Service Provider (PSP) clients. Through a number of strategic technical integration points, the expanded range of payment methods has reached over forty payment types and spans five continents.

Popular payment methods include major credit card brands, and a diverse range preferred regional alternative payment methods, such as iDeal and Giropay from Europe, Yandex from Russia, Boleto from South America, and major methods from China. HAZZA will continue to integrate new payment methods, with cryptocurrency and digital cash on target for this year.

Increased payment methods brings convenience to both consumers, merchants and Payment Service Providers and is a component of HAZZA’s strategy to reduce barriers and inefficiencies of the entire payment industry by allowing the world's merchants, payment networks, acquirers, issuers, alternative payment method providers (APMs), payment service providers (PSPs), crypto payments and other industry players (e.g. device manufacturers, POS providers, etc.) to access a low-cost, minimal-engagement, decentralized payment network.

Furthermore, HAZZA has successfully on-boarded initial merchants and payment Service Providers and has performed live transaction on the HAZZA network, demonstrating real world adoption.

In addition to network expansion through organic merchant and Payment Service Provider adoption, HAZZA is in advanced partnership discussions to support a large-scale payment service deployment project in South East Asia. Stay tuned for exciting developments.

HAZZA Network is a global unified and open payments network built and managed to facilitate seamless cryptocurrency payments over existing conventional payment networks.

The HAZZA Network is ready and is preparing for launch.

Merchants, payment service providers, and crypto payment providers can contact us for the HAZZA early access program.

HAZZA Project Deck

Whitepaper

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What is HAZZA

OVERVIEW

CHALLENGE

The current payments market is highly fragmented and complex. Many intermediaries exist, taking high fees and creating unnecessary friction at the expense of the consumers, merchants and market participants. With the total non-cash payments transaction value projected to be at $70TN* by 2025, the payments market is awaiting disruption.

OPPORTUNITY

We are moving to a digital world. Digital adoption, together with Alternative Payment Methods have seen explosive growth. With the development of Blockchain and Smart Contract technology, the stage is set to bring together a harmonious and frictionless ecosystem for the payments market, and drive financial inclusion.

SOLUTION

With the HAZZA project, we aim to take an existing, proven enterprise payment platform to the blockchain. HAZZA aims to revolutionize the payments ecosystem by creating an open access, global, unified payments network governed by the community for the community.

PARTICIPATION

The HAZZA Network is ready and is preparing for launch. Merchants, payment service providers, and crypto payment providers can contact us for the HAZZA early access program. Contact us for more information

* Electronic transactions consist of online and offline payments by credit card, debit card, pre-paid card, eWallets and mobile payments, etc.

OUR VISION: PARTICIPANT BENEFITS

Cryptocurrencies,
Crypto Payment Solutions

Cryptocurrencies and crypto payment solutions can be natively accepted on conventional, mainstream, existing payment networks, and become less dependent upon issuers. This also reduces the burden to merchants of dealing with multiple networks, interfaces and management/reconciliation systems by having a single, consolidated front-end system.

Merchants

Merchants who want to accept non-cash payments will no longer have to engage in a slow and expensive process of seeking and contracting with various intermediaries who charge fees on every transaction and only provide access to a limited range of payment methods.

Merchants will gain fast and simple access to all payment methods on the HAZZA network, while saving cost and realizing increased revenues from broader payment method access.

HAZZA’s omni-channel technology will also make it easy for any merchant to accept both online and offline payments, supporting ‘O2O’ strategies, all through a single open API.

Payment Method Providers

Payment method providers will no longer be forced to compete in closed and fragmented market where a few payment methods dominate, struggling to gain wider acceptance which is costly and time consuming.

In the Hazza network, payment method providers are free to compete on the merits of their product and have direct access to merchants and other users.

Payment Networks, Issuers and Acquirers

Existing payment networks, issuers, acquirers, and card schemes can leverage on HAZZA's decentralized network and global reach in order to lower their CAPEX/ OPEX and as a result expand their footprint in developing countries or build additional functionalities in existing markets.

Valued Added Service Providers

HAZZA network allows various parties such as Point Of Sale, EFT terminal, FX, KYC, and new emerging service providers to benefit from direct access to participants in the payment ecosystem, driving innovation and new economies.

OUR VISION: HARNESSING PROVEN TECHNOLOGY

PROVEN

Proprietary, cloud-based technology
Intelligent routing & switching for cost optimization
Real-time consolidated reporting and dashboards
Unlimited scalability

CERTIFIED

Certified processor of Visa, MasterCard, Discover Card, Diners Club, and American Express
BASE I and BASE II capable
Fully functional ISO 8583 Payment Switch
Fully compliant local/global instances

REAL TIME OMNI-CHANNEL

E-commerce, Physical PoS, mPoS, MOTO, Coupon, Loyalty on a single integrated platform
All major Card Brands and comprehensive coverage of global Alternative Payment Methods (APMs)
Processing 130+ currencies

SECURE

Web-based, secure portal for transactions management
Comprehensive audit trail & access control
Encrypted payment card data
PCI DSS Level 1 Compliant

OUR VISION:MIGRATION TO BLOCKCHAIN

The HAZZA network will be built using blockchain technology

OPEN API

The typical payment processing integration model is very linear and dependent on the payment network company. Due to this linear model, the integration is very costly and time lengthy. HAZZA network’s Open API model takes a different approach; the payment channel integrates itself to the HAZZA network using the public API, removing the bottleneck.

CONTRACTUAL LAYER

Smart contracts will be used to facilitate aspects such as KYC, commercial terms, participant registry, and publishing of services. Due to the nature of this evolving technology, merchants and payments participants will see significant time savings and minimized acquisition costs.

CORE PROCESSING PLATFORM

The Foundation will evaluate the new blockchain technology readiness and leverage it for core processing when ready. This includes evaluation of off-chain state channel technologies, such as Lightning Network and RAIDEN.

TEAM

Tyrone Lynch

Founder/Strategy

Hans Wong

Founder/Payments Technology

Ajmal Samuel

Founder/Strategy

ADVISORS

Pierre Thiercelin

Payments

Cemal Hamitogullari

Payments

Nadja Van Der Veer

Legal

Timothy Sparrow

Payments

Stephen Hill

Finance

BACKERS, ADVISORS, AND PARTICIPANTS

NAVIGATION

Home

Product

CONTACT US

info@hazza.network

HAZZA Foundation Limited

FAQ

What is the HAZZA Token?
HAZZA Token is an Ethereum-based token that implements the ERC20 token standard.

The envisioned utility of the HAZZA tokens are the following:
- ACCESS TO THE HAZZA NETWORK
  The core usage of the HAZZA token is to access the HAZZA network once operational. Participants must exchange a certain amount of HAZZA tokens to access the HAZZA network.
- GOVERNANCE OF THE HAZZA NETWORK
  It is intended that HAZZA Token holders who are participants in the HAZZA network would participate in the governance of the HAZZA network by submitting and voting on proposals or decisions such as adding new features to the HAZZA network, and by selecting representatives to attend the Foundation’s annual general meeting with the Foundation’s Board of Directors.
What are the limitations in the current payments model?
Based on our experience, the current payments model is a fragmented and complicated ecosystem.

This creates problems for:
- CUSTOMERS, who want to use a particular payment type but get rejected by merchants who can only accept a limited number of payment types.
- MERCHANTS, who are unable to reach the entire customer base and complete transactions due to a limited acceptance of payment methods. Furthermore, they often pay high fees and face many complexities from intermediaries as a result of the current legacy ecosystem.
- PAYMENT METHOD PROVIDERS, especially new innovators, who face often huge hurdles in driving acceptance and merchant engagement.
How does the HAZZA network solve this issue?
The existing, proven Octo3 payments solution will be migrated to an open access solution, utilizing blockchain technology, to fulfill our vision of democratizing the payments industry.

The following principles will be in mind during the development:
- DECENTRALIZING PARTICIPATION
  The HAZZA network is designed to be open to any participants through the use of Open APIs
- ELIMINATING INEFFICIENCIES
  Seamless integration is enabled through the use of Open API, which reduce time taken to join, together with the use of smart contracts
- DRIVING INNOVATION AND NEW ECONOMIES
  Participants should be able to contribute new innovative solutions in order to shape the HAZZA network and develop it in a way that could benefit all participants
- ENABLING FINANCIAL INCLUSION
  Currently, the unbanked population has limited access to non-cash payment methods due to limitations in banking infrastructure and high barriers to entry for credit facilities. By using the APIs connected to the HAZZA network, new solutions for the unbanked could be included in the payment ecosystem.
What existing, proven technology is HAZZA based on?

The platform is proposed to be based on Octo3‘s existing Global Payment System, a scalable cloud-based Omni-channel proprietary technology.

It is a certified BASE I, BASE II capable processor, and features a fully functional ISO 8583 payment switch. It is fully compliant with over 130 transaction currencies and allows full transactional oversight, covering e-commerce, physical POS, mobile POS, MOTO, coupon and loyalty programs currently. The Global Payment System has robust functionalities and the highest level of security, maintaining a PCI-DSS Level 1 certification.
How does HAZZA drive financial inclusion?

Due to the potentially disruptive nature of the HAZZA project and based on our industry experience, we estimate that the utilization of the HAZZA network could help create over USD 730 billion of positive economic value by 2025 for ecosystem participants. This is primarily due to potential savings on transaction costs and the economic value of providing greater access to non-cash payment methods. The beneficiaries could include PMPs, APMs, PSPs, payment networks and card schemes, merchants, terminal manufacturers and others in the payments communities.