Simplify complex payments with 5 new Payment features
Less customer support. More financial transparency. More ways to monetize payments.
Our mission is to solve complex payment challenges so your business can rapidly scale, quickly launch, and monetize payments.
Today, we are announcing 5 new features, to provide Financial Institutions, Enterprises, ISVs and SaaS Companies with the power to define their unique payment process and the flexibility to support evolving commerce models.
We are helping payment professionals focus on monetizing payments within their organization as we uniquely connect Merchant Onboarding, Transaction Processing, Billing, Risk & Compliance, Finance, Reconciliations, and IT operations, with automation that spans our products and third-party tools. With Amaryllis as the backbone and ultimate payment enablement platform, we unify all of payment operations, reduce business overload, and increase profitability.
Read on to learn more about how we’re helping software and payment companies get ahead of the payments game.
Go straight to the feature that interests you:
On Demand Payouts is a new feature that lets you easily execute one-off disbursements to merchants or any other entity that participates in the program.
The idea behind On Demand Payouts is to offer a modern payout solution that complements typical, automated scheduled payouts.
The On Demand Payouts feature lets you pay merchants anytime, and once approved, funds are delivered to their account.
On Demand Payouts can also be used to debit the merchant bank account.
If your security settings require Payouts to be manually approved, initiating an On Demand Payout sends a request for review and approval by a higher role in your organization. Once the request is made, a notification is sent to approve/reject. Once approved, the On Demand Payout is executed and the requested amount will be credited (or debited) from the payment method associated with the transaction – It’s that simple.
On Demand Payout is useful in various scenarios:
Adjustments – Where billing exceptions occurs, an On Demand Payouts can be used to offset the positive or negative balance on the account.
One-Time Residual Payment – On Demand Payouts can be used to disburse an agent entity for a one-time referral fee
Emergency Payout – No need to wait for end of day. On Demand Payouts can have earnings available paid out sooner than next day.
Risk Management – An On Demand Payout can be used to collect funds owed to you by a merchant when their balance is negative due to chargebacks, refunds, or when sales volume goes down.
As with all of our features, On Demand Payout can be automated and triggered via an API call.
For more information, see our Developer Portal.
Cost and Profitability Analysis
The aim of Cost and Profitability Analysis is to inform business decision making with a view to systematically optimizing Payments profitability.
Our new Cost and Profitability Analysis features support Enterprise performance management frameworks, where organizations can efficiently and effectively analyze transaction costs, income and profitability at multiple levels to make informed business decisions.
Most of our Enterprise customers sell and service a broad range of products and services to a diverse mix of customers via multiple channels managed and facilitated by several internal departments and external partners. Understanding the real cost and profitability of payments over these multiple dimensions is essential to make informed decisions.
Without Profitability and Cost Analysis, payment experts and management are in the dark. A client we worked with recently completed such analysis which showed 20% of its locations were delivering 50% of its profit and 10% of transactions did not even generate a profit.
Many companies are too simplistic in the level of their approach and analysis, impacting the decision support that Finance is able to provide to the business.
Finally, with Amaryllis new Cost and Profitability Analysis features, our customers have the tools that they need to overcome this business challenge and implement an enhanced level of Cost and Profitability Analysis aligned to the key entities involved in their transactions and payments.
This provides the foundation for the organization payment experts to support Finance in bearing the weight of responsibility to deliver more payment-focused insight to drive decision-making.
With the release of the Cost and Profitability Analysis features, any fee or billing agreement can be simply marked as ‘Cost’ by ticking the appropriate checkbox.
Amaryllis new Profitability Analysis Report shows a detailed analysis for all of the transactions in the chosen accounts. Simply filter and select the accounts that participate in the analysis.
The Profitability Analysis Report displays a summary of the transaction activity, broken by dates, with specific values for: Transaction Amount, Incoming Fees, Outgoing Fees, and Profit Amount.
Further drill-down is possible at the transaction level, so you can analyze the profitability level of each type of transaction in your program (authorizations, captures, refunds, etc), as well as better understand specific transactions and exception use cases.
Within Amaryllis ecosystem, Agents are any individuals or companies that may receive residuals for certain accounts in the program.
You may have referral agents earning residuals for merchant services, or delivery companies receiving delivering fees, or any other gig economy service that takes place as part of the payment.
Agents can earn or receive funds through any type of fee. They can receive a fee based on transaction activity, as well as a scheduled fee.
Agents could also be debited for certain activities. For example, a property management company can subsidize the ACH fees of property rental payments for the property owners. The new Agent set-up wizard lets you setup a new Agent in three quick steps:
First, you setup the user and contact information, as well as the relationship between this new agent and existing accounts in the program.
Second, you configure the fees that this Agent will pay or receive
Lastly, you configure their payout method, account details, and the payout schedule.
Once an Agent is set-up, they will begin participating in the payment activity for the accounts they are assigned to.
The Agent is also provided with access to the back-office dashboards and reports so they can track and reconcile their earnings.
Some of your rates may vary with the seasons. Some of your merchants may only operate in certain during the year. Some of your fees are only charged at the beginning of the engagement term or up until a certain threshold is met. By being smart with your pricing, you can automate fee enablement to reduce the operational burden, and at the same time, optimize your revenue.
In simple terms, seasonal fees are those that deviate from your standard basic price during certain times of the year or during certain schedules. For example, you might charge a minimum set up fee for the first three months after a merchant go-live. Or you may drop a certain fee after a minimum volume is processed. Alternatively, you may have certain merchants that only operate in the winter and want to maintain their processing account open with low fees or no fees during the rest of the year. For example, Ski rentals.
Our new Seasonal Fees feature, allows you to configure additional timing properties for any type of fee. You can mark the exact Start Date and End Date for a fee, and even define the off-seasons months in which this fee will not be collected.
Seasonal Fees can also be embedded in merchant set-up templates. So you can instantiate any new merchant from a template that already include the type of seasonal fees that pertain to their business.
Settlement Cut-Off Times
With this new release, you can control the Settlement Cut-Off Time for your merchants and configure a different end-of-business-day for each of them.
Many Payment Facilitators are managing merchants across different geographies and time-zones, and are struggling with centrally managing the sub-merchants daily financial activities.
At the same time, sub-merchants require the flexibility to reconcile payments based on their own opening hours and end of day.
For example, in the movie theatre industry, shows may run late past midnight. Some shows may begin after midnight, yet they are attributed to the previous business day. Each theatre is also located in a different state on operating in a different time-zone. Allowing theatres to control their end-of-day on a per location basis, let them accurately reconcile ticket sales to the appropriate business day.
The new Settlement Cut-Off feature allows you to choose the settlement cut-off time for each merchant or location, so that transactions processed up until the cut-off time will be clustered into the same business day.
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.