Product: Retention Intelligence
San Francisco-based Womply, a software-as-a-service company established in 2011, launched Retention Intelligence, an analytics solution designed to monitor processing volumes, online activities and competitive market trends. The solution issues real-time alerts via email, customer relationship management or ticketing systems to help credit card processors and merchant acquirers reduce attrition and identify opportunities in their merchant portfolios, the company stated.
"Merchant attrition is one of the biggest problems in the merchant acquiring industry," said Cory Capoccia, President at Womply. "New entrants, online rate shopping and aggressive competition have made the environment increasingly challenging for acquirers. Retention Intelligence is the first product of its kind, and we are excited to see how this improves merchant experience within the payments ecosystem."
Retention Intelligence can be used a standalone service or as part of Womply's extended family of value-added service offerings, Capoccia added.
As a provider of merchant-focused software to the credit card processing and acquiring industry, Womply said it has consistently aimed at delivering a big brand experience to small and midsize merchants, offering business management solutions formerly only accessible to top-tier retailers. Womply's competitively priced software platform offers a diversified collection of business resources to merchants in more than 400 vertical industries, including hospitality, retail, auto, beauty, healthcare and medical. Merchant subscribers can use Womply's self-service portal to identify their most loyal customers and measure business performance over time and within their respective industries.
Womply noted that Insights, its brandable suite of products, includes the following:
Womply's sales channel partners, which include credit card processors, acquirers and ISOs, have reduced account attrition by an average of 17 percent, the company stated. Womply affirmed its commitment to elevating its partners' discussions with merchants by shifting the focus from saving money to adding value. The company noted its brandable services enable processors and acquirers to help merchant customers while improving their own retention rates and net promoter scores.
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