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.
Brandable suite of products
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:
- Customer Pulse: This highlights page is the first page customers see on the portal. Here they can view sales performance over time and see how their businesses perform relative to local markets and businesses in their industry. The service uses transactional data and metadata to help merchants understand customers and buying habits to facilitate impactful, targeted messages.
- Biz Shield: This part of Insights, used with other Womply services or as a standalone product, proactively sends alerts via email and text when action is required. The service pulls data from a range of social media sites, including the merchant's primary website, alerting merchants to threats from a variety of sources, including negative online reviews, incorrect business listings, market developments and competitors.
- Listings Monitor: This webpage in the portal displays online listings to help merchants ensure accuracy and standardization across Google, Yelp, Facebook and other popular sites.
- Launchpad: This service helps merchants boost visibility on frequently visited sites such as Facebook, Google, TripAdvisor and Foursquare. It can also claim online listings created by third parties to enable merchants to control information accuracy and keep listings up to date. Womply's marketing team can also assist merchants in setting up listings and webpages.
- Ads: Womply helps merchants allocate dollars toward advertising. Even merchants who begin with a minimal advertising budget can receive return-on-investment details, click-through rates and advertising responses.
- Reputation Defense: This service helps merchants protect brand image, compare their online reputations to similar businesses and identify rating sites commonly used by their customers. Merchants can read and respond to real-time reviews in a centralized location to efficiently manage their customer relationships.
- Customer Feedback: Merchants can click on a "customer feedback" button to receive private, real-time feedback from customers.
- Vault: This enables business owners to securely store business documents and online passwords. Merchants can safely access tax documents, lease agreements and business licenses from connected devices, ensuring they never lose access to online documents and logins.
Partners, resellers welcome
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.