Amaryllis Bridges the Gap Between Upstart FinTech Disruptors and Traditional Financial Institutions

About Amaryllis

With a vision to optimize the complex world of payments between buyers and sellers, Amaryllis has developed a payment engine to support omnichannel retail and platform models. Built from the ground up, our customized and modular solution provides the flexibility to take full control of the seller lifecycle (onboarding to payout) or supports key complex payment requirements (onboarding, risk & compliance, payout management, etc.).

With an API-driven solution and strategic partner focused model, Amaryllis makes it easy for third-party payment companies to rapidly launch, quickly scale, and efficiently manage complex seller-based payment models. Our purpose-built platform works seamlessly with legacy systems enabling you to quickly access the high growth complex model sector without huge investments in rebuilding your payments infrastructure.

Amaryllis is committed to helping you pursue new opportunities and grow your business. By leveraging our founding team’s 60+ years of combined payment processing and Big 4 consulting experience, we are able to share “what good looks like” as well as make joint decisions with our clients as if we were on their side of the table.

  • Proven Track Record of Success
  • Industry Leaders in Complex Payment Models
  • Purpose-Built, End-to-End, Modular Solution
  • Rapid Deployment & Speed to Market
  • Un-Matched Technical & Business Support

The history of Amaryllis correlates with the personal story of the founder, Ori Hay

Ori started his journey in a new Credit Card company in 1997 in Israel and was in charge of strategic alliances, that included enterprise clients and “the internet”, that was not called e-commerce back then. Ori recognized the potential of cross border transactions and started his own payments provider in 2000, having all the relationships he had already in the industry. Back then you needed to build everything from scratch, so his company was the first PCI compliant service provider, the first dot.net application on payments, and they even got an award from Steve Balmer and a lot more “first first first”.

The business was quite successful, but Ori recognized along the years something very interesting in payments: companies, specifically in e-commerce, start by leveraging third party services, usually from their acquirer or processor, and then they recognize that they have unique models and they need to build some of the functionality on their end to support it, so little by little they end up with a huge application that was not designed from the ground up to support their business needs. And this happens over and over again: companies are reinventing the wheel because they recognize payments is important, they think about it as commodity in the beginning, a standard play, and then they recognize it is not and they build it themselves. Based on all the experience that Ori accumulated, together with his co-founder Adi Ekshtain, they defined in 2011 their main goal: to build a payment platform, a complete technology stack, that will enable other businesses to run their own business processes. This was the challenge, and this was the vision in 2011.

They had a lot of experience, so when they started building it they look at it from the 3D perspective. They asked themselves which other company did something similar for any market, and they look at SAP, so what SAP did for the ERP world they wanted to do for payments. Because they were payment experts they included in the plan a gateway, billing, unlimited splits, subscriptions, and fraud, including all the functionality a business would need. Additionally, they needed to build it in a modular way, so businesses can pick and chose what they want, and to build it in a way that the internal process should be configured by the client.

To support such complexity, they envisioned a huge matrix behind the solution so there was no need to determine up front what will be the flow of each process. Some businesses would decide to do authorization, then billing, and then fraud checks, and others may first do a third-party risk check and then do billing, thus the solution would allow transactions to flow theoretically in opposite directions.

Together with the founders’ own financing, the vision, a lot of expertise and experienced people, they were introduced to companies that had a need for complex solutions, that financed their bootstrapping process. A good example proving their vision was Nationwide Pet Insurance, that planned to offer a wellness program, a platform that allowed veterinarian clinics to offer pet owners a subscription-based service, where Nationwide would be the payment facilitator behind the scenes and built over two years the front side. When they completed the front, they approached Chase Paymentech to support the onboarding, the split, the fees, subscription plans that each veterinarian clinic can determined its own, and realized they will need to build it all by themselves. Amaryllis was selected among top service providers to support this and other very complex businesses that realized they needed payment expertise and helped finance the vision of the company. Between 2011 and 2015 Ori and Adi developed the solution and in 2015 they moved it to the cloud, certified it as PCI level 1, and created a complete modular customizable SaaS solution.

Founding Team

Ori Hay

CEO/Co-Founder

Adi Ekshtain

CIO/Co-Founder

Viko Bargig

VP Product

Bruce R. Shirey

SVP Business Solutions

 

Partners