Third-Party Payments: Hype vs. Reality

As consumers, we face a constant assault from marketers fighting for our limited attention. In fact, studies show that the average consumer is exposed to up to 10,000 brand messages a day.

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Many of these marketing messages are filled with claims that blur the lines between hype and reality.

Rice Krispies once claimed that the cereal improved a child’s immunity with “25 percent Daily Value of Antioxidants and Nutrients.” Improving immunity proved to be a little more difficult than snap, crackle, pop- Kellogg’s was accused of misleading consumers and forced to pay a settlement.

The complex payment space is no different as most claims (like the sample listed below) are more hype than reality.

  • Total control
  • 100% customizable
  • Instant onboarding
  • Fast, painless integration

As a third-party payment SME, I believe most of what is out there is hype or at best a broad generality left for interpretation. What provider doesn’t have the best solution? Can any provider really make such promises without concessions? The list goes on and on.

We’re publishing a six-part series on ‘what good looks like’ in supporting marketplaces, payment facilitators, and other third-party complex payment models. The series will explore what a complete technology solution for complex payment models looks like and the types of questions that need to be asked when evaluating a solution. Key topics will include:

  • Merchant onboarding
  • Transaction processing
  • Billing
  • Compliance and risk
  • Payouts
  • Reconciliation and reporting

No such thing as a perfect platform
Each of us at Amaryllis has been in the payments space a long time. It’s naive to think that there is a solution out there that is all-encompassing or a perfect fit. Based on our experience, merchants and their businesses are like fingerprints and snowflakes — none are alike — with unique business needs and targets.

What we promise our clients
We are the only software provider that has experience from both sides of the table, uniquely positioned to be a trusted advisor serving this market. We take a different approach than our competition by sitting down with potential clients, mapping out business models and talking about different solutions.

Custom Solutions
We guide you to the features and modules your business needs.

Business Support
We work with your team to help you target and pursue the most profitable opportunities.

Best Practices
We help you to embrace the fundamentals and best practices for omni-channel retail and the platform economy.

The series will guide you through our process as we explore what a complete solution for complex payment models looks like.

About Amaryllis
With a vision to optimize the complex world of payments between buyers and sellers, Amaryllis has developed a payment engine to support marketplaces, payment facilitators, and other third-party complex payment models. Built from the ground up, our modular design offers a complete, end-to-end payments platform or a single functionality to round out capabilities.