You don’t even have to scratch the surface of payments to realize it’s a complicated business. Even for people with years of experience, it’s complicated. There are multiple terms for the same thing, similar terms for different things, constantly evolving rules and regulations, and hundreds of options for providers.
Dave and I have been in the payments industry for well over 10 years and have dealt with the intricacies of payments firsthand. A glaring realization we came to is that the payments and the partnerships needed for a global payments strategy are becoming increasingly complex.
Supporting alternative payments, different currencies and local acquirers, to name a few, is a must for global brands, yet internal resources to run complicated payment strategies vary greatly. We’ve talked to payments teams ranging from two people to twenty people, all with the same problem: trying to constantly and consistently make sense of payment reports coming from multiple providers.
Dave and I began to wonder how merchants could continue to manage data across different providers and, at the same time, add additional services to grow their business.
We decided that goal can only be achieved by providing merchants with a global view of data across providers, along with a global marketplace that’s accessible universally. Our vision for global merchants makes payments about guidance that breaks down complexities, encourages unbiased and candid conversation, and provides access and choice to the best information and providers.
Pazien is our way of doing that.
Pazien is the payment strategy solution that gathers all of a merchant’s payment data in one place with no IT effort. All information is broken down into custom reports with actionable insights that help merchants:
- Reconcile payments right from the platform
- View authorizations and dive into declines
- Automatically understand cash flows
- Pinpoint which payment methods, currencies and providers are creating the highest ROI
- Integrate order management data
With this access, we’ve already seen merchants take control of their payment relationships and have a crystal clear view of their payment operations.
Our hope is that the absence of complexity opens the floor for innovation across the industry.
We’re proud of what we’ve accomplished so far and excited to help more and more merchants and providers get on a shared path to success.