Did you know that the number one reason Payment Facilitators fail to manage risk is not due to lack of knowledge but because they don’t have real time risk monitoring?
Here is the problem you face: most payment facilitators think that managing merchants’ risk and customer satisfaction ends once the Underwriting and onboarding process is complete.
That means that they’ll struggle with getting bank sponsorship and will never be able to provide their merchants with the service they so much deserve.
Luckily, there is now a solution. Amaryllis introduces its Alert Center, a brand new product that monitors merchant accounts 24/7, and also notifies you (or your merchants…) in real time whenever there is something really important that you should know.
What kind of alerts can you track and send? Here are just a few examples:
- Get notified whenever a merchant’s volume gets substantially above the average
- Get notified whenever there are too many chargebacks
- Notify your Merchants every time you send a payment their way
- And… you can also create your own alerts!
For more examples click here!
What’s included in the new Alert Center?
- Out-of-the-box Templates so you can quickly set-up all the rules you need which means you can work faster and move on with your work.
- Don’t see a template that works for you? not a problem! Create your own Rules so you can monitor what’s really important in your business which means you can sleep well at night.
- Customizable Email Notifications so you can send notifications to your merchants directly within our system which means you spend a lot less money on tools over time
- Alert Management Interface so you can manage, review, and assign alerts with a simple user interface which means you will never be left high and dry without knowing who is responsible to resolve each alert
Amaryllis Payment Solutions – the leading provider of complex payment solutions
To date, Amaryllis Payment Solutions has served about any industry you can think of, from healthcare to real estate and ride sharing, and about a dozen industries in between.
We are serving independent software vendors (ISVs), value added retailers (VARs), independent sales organizations (ISOs), SaaS companies, and marketplaces. All of our customers are benefiting from our ability to customize our robust payment platform to their specific needs.
Don’t just take our word for it – our numbers speak for themselves
Go straight to the feature that interests you:
Set up your entire risk monitoring operation in as little as 30 minutes even if you have never done this before!
Here is the way things probably are right now for many payment facilitators. Their merchant portfolio is managed through a set of disconnected manual intensive processes. They struggle to manage risk in real time. Sales have a hard time tracking accounts that are not meeting their expected volume. They even lose money by not having timely access to transaction approval rate and processor performance.
Now, imagine what it would be if you got alerted if and only if certain merchant activity required your immediate attention. No more endless hours staring and at a screen and refreshing the page to see if there was any update. You have time to finally investigate the incidents that are of most concern the most when they matter the most.
Well, that doesn’t have to be a fantasy. It can be your reality. With Amaryllis new Alert Center, you are able to:
- Set Up all of your monitoring and alerts using out-of-the-box templates In as Little As 30 minutes.
- See what merchant accounts are triggering alerts, displayed and broken down by client, hierarchy and category.
- Assign rules based on initiatives, and monitor the Objective Key Results (OKRs), Key Performance Indicators (KPIs), and Service Level Agreements (SLAs).
Create your own custom rules so you can monitor and get alerted 24/7 on what’s really important in your business which means you can sleep well at night!
Alert Center comes with dozens of out-of-the-box rules and templates, but what if you are still missing something that is unique to your business? Not to worry. That’s why you can now create your own Rules. Literally.
You can create rules that trigger off your business or merchant activity. The structure of a rule allows you to apply a certain level of data science into your business daily operations.
Rules are easily assigned to the top level organization, partner channels, sales regions, client groups and more, if our clients have defined it, it can be implemented.
And not only that – why use only simple selection statements when you can implement complex decisioning criteria? You can define conditions, establish thresholds, setup intervals and measure on statuses of specific events.
Simply tell the system what you want to measure, define the element of measurement and Alert Center will guarantee you get notified on time.
Get meaningful notifications so you can immediately understand what happened, what you need to do about it, and who to contact (with their phone number!) which means you can resolve incidents faster!
If you want to be on top of everything that is happening in your business, if you want to know when there is a problem before your customers tells you about it, and if you want to know exactly what to do when something bad happens, then you need and Alert Center.
Alert Center can work for you in the background and notify you on the 2 things you always need to know about:
- When something that shouldn’t have happened – happened
- When something that should have happened – didn’t happen
And here is the beauty of it – you can control and customize the notifications that you get so they contain all the necessary information to allow you to quickly resolve the incident.
If there is an incident pertaining a specific merchant – you can have all the information, including their account name, account number, and even the contact person to reach out to.
If there is a technical issue with your back-end payment processor – you can immediately know what kind of issue it is, when did it start, and what phone number to contact to speak with their NOC.
Here is a little secret: At Amaryllis, when something like that happens – we let Alert Center notify the Processor Directly. It sends them a message that tells their technical team exactly what errors we are witnessing, for how long, and our own contact info so they can call us right back!
And here is something else, because we use Alert Center – we are almost always the first ones to notify the processor of any incident even if it impacts thousands of their merchants – and they are very thankful for that because they can resolve their technical issue faster. As a result, we are the first they call back to update us on the issue at hand and expected resolution time, and in turn – we can relay that information to our own customers and give them superior customer service.
So How do you need to use the data? Do you need to notify your internal technical operations team? External partners? Customers of your Partners? Cater to any audience with the ability to configure any message format, complete with dynamic placeholders with the ability to link the notification wherever you need to.
Manage alerts within one platform so you can assign tickets to the relevant people, and resolve them once they are handled, which means you don’t need to switch tools and will spend a lot less money on tools overtime!
There is no need to switch between different software tools to manage your operations.
Alert Center lets you:
- See all open alerts so you can prioritize incident management without losing track of what is happening in your business
- Assign alerts to subject matters experts so you can see who is doing what which means you don’t need to ask for status updates
- See a complete audit trail of resolved alerts so you can easily prepare Root Cause Analysis (RCA) without digging the information out of emails and 3rd party software tools.
You can achieve all of the above through a familiar easy to use reporting structure. Everything has been designed with the appropriate filtering ensuring that when you need the data, it is easily identified and available.
All in all, The Alert Center gives you the confidence that your teams are monitoring, and actioning the Service Level Agreements (SLAs) that you are committed to.
Here are more examples of Alerts that our customers are already using today:
- Track accounts who are exceeding their expected volume, or not achieving it
- Track your accounts that have not started processing yet
- Track volume by sales channel
- Track Revenue by Service Provider
- Get notifications on specific error codes which are indicative of anomalies
- Set up thresholds to provide information on new releases that may be causing a drop in approvals, increased EFT/ACH failures and more
- Get notified when your processing relationships SLAs are not met
- Get notified when Transaction Approval Rate is below average
- Get notified when Processor latency is above the norm
- Get notified when Chargeback rates go above an allowable threshold for a specific merchant
- When too many transactions are declined for fraud reasons
- Get notified when the ratio between credit and debit is approaching a threshold
- Identify fluctuations in Transactions Average Ticket
Get Started with Amaryllis
Need to solve for Complex Payments in your organization? Have a unique payment related feature that stops you from going to market? Learn more about how we think about Payments at Amaryllis, discover best practices to improve how your team is managing payments, or just get started on your journey by speaking with us today.