Bezant-Happy Money Strategic Partnership
Hello from Bezant!
We are very pleased to announce our partnership with Happy Money!
In order to launch a global payment infrastructure backed by blockchain technology, Happy Money, which is Korea’s first all-in-one on/offline gift voucher service provider, has entered into an agreement to integrate Bezant’s development capabilities with their business know-hows in the industry.
Happy Money is planning to issue a stablecoin to be used for a global payment method. The two companies have prioritized the goal of targeting Korea’s foreigner payment market, worth several trillion KRW, and plan to utilize the existing on/offline alliance partners and the know-hows of their settlement and payment system. Happy Money will be utilizing Bezant’s BaaS, Bezantium, as a platform for coin issuance, user wallets, and scanning service development.
Happy Money plans to use the newly issued stablecoin to lower the domestic payment barriers that foreign consumers face in Korea. Due to the limited payment options, credit card usage of foreigners in Korea is worth 4.44 trillion KRW as of 2Q 2018. The additional payment method will help to lower that payment barrier.
Happy Money and Bezant will be focusing on simplifying the currently complicated procedures that foreigners experience while making transactions and payments in Korea by providing additional payment methods. Happy Money is also planning an aggressive marketing strategy with its business partners emphasizing the reduction of the middlemen fees when distributing gift vouchers, and improvements of the benefits for users by utilizing low commission rates compared to existing credit card payments. Both Happy Money and Bezant expect that users and payment demands will naturally increase. The two companies ultimately will aim to create a win-win structure that benefits Happy Money, its business partners, and consumers.
Bezant CEO Chan-joon Kim, commented on the partnership saying, “We are already working with Happy Money, together with our members who are veteran executives with experiences in settlement and e-commerce platforms such as Kakao Pay, eBay, BoaCompra, MOL, and Xsolla. We will do our best to launch a successful service so that ordinary users can utilize the blockchain technology in real life”. He then added, “With this partnership with Happy Money, we are now able to further develop the ecosystem of payment services based on Bezantium”.
We look forward to your continued interest in global payment innovations to be led by Bezant.
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The Bezant Team