Debunking the Myth of the Open ‘Payment Facilitation’ Payment System

 

What’s the difference between a “payment facilitation in a box” solution versus an open platform that seamlessly adapts to their requirements and needs within the PF payments ecosystem? On today’s episode of the Software & Technology Podcast, host Tyler Kern sat down with Mark Bishopp, CEO of Amaryllis Payment Solutions, to discuss an API-driven solution that’s making payment systems customizable for a variety of industries.

Before joining Amaryllis, Bishopp’s resume included working with the world’s top financial, fintech, and consulting powerhouses, which taught him something simple yet powerful. “Systems are key,” Bishopp said. “There’s hundreds of payment facilitators — marketplaces, aggregators, we all do similar things — but we all bring buyers and sellers together.”

So, how do facilitators build an environment that allows buyers and sellers to conduct business?

Before cloud computing came into play, the landscape looked different — essentially closed— where everyone built their own, according to Bishopp. But cloud computing has opened up immense possibilities in open source technology solutions that make something like Amaryllis’ intelligent payment facilitation platform possible.

Amaryllis’ PF platform is a customizable, scalable, API-driven payment engine built specifically for the omni-channel platform economy servicing third-party payment models.

Bishopp said this scale of customization gives facilitators a solution that’s good for them specifically, and not a solution out of a book. “You’ll hear me say this a lot, but we’re providing ‘What does good look like?’ for them,” he said.

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