HONG KONG, Sept. 28, 2017 /PRNewswire/ -- "HAZZA is quickly capturing the attention of merchants, banks, and payment providers around the globe," says Founder Tyrone Lynch. "The global payments ecosystem, as it stands, is too fragmented, based on proprietary and legacy platforms that restrict the growth of innovation in the space. Our plan for HAZZA is to create a universally accessible, low cost, blockchain-enabled payment network that will connect the ecosystem through open APIs."
Mr Lynch is also the CEO of OCTO3, the payments industry firm that is preparing to migrate its proven payment platform to the blockchain through the not-for-profit OCTO3 Foundation to create the first global unified payment network.
HAZZA aims to provide a unified, low-friction, and user-friendly processing platform for merchants, banks, and payment providers, as well as interconnect with existing card schemes. Through the use of smart contract driven blockchain technology, HAZZA plans to address the key pain points facing the industry.
"Payments have always had a high level of complexity," says Founder Ajmal Samuel, "but with the rapid growth of e-commerce and emergence of many new payment methods, this complexity is often too much for a merchant to navigate. For example, we are now seeing eWallets and digital payment methods entering the retail arena and many merchants are struggling to integrate these into their existing systems. With HAZZA the delineation of traditional online, mobile, and card present payments becomes increasingly irrelevant."
Once operational, merchants using HAZZA could add new payment methods quickly and easily using smart contracts, potentially saving weeks or even months of sourcing and negotiation.
"Imagine a merchant being able to accept a new payment method simply by ticking a box in their management portal. With HAZZA we could soon see this as a reality," Mr. Samuel adds.
The Token Sale
The HAZZA token sale is underway now by the OCTO3 Foundation in a private-sale and will be open to the public from October 3rd, 2017.
For more information, contact:
OCTO3 Limited is a member of OCTO3 Group Holdings Ltd., a hi-tech service provider that provides integrated solutions, comprehensive operation support and new technology applications. Headquartered in Hong Kong, OCTO3 offices are located in Hong Kong, Thailand, Singapore and Pakistan.
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SOURCE HAZZA; OCTO3