Jeffrey Preston Bezos Executive Chairman of Amazon | Amazon
Payarc has enhanced its payment processing operations through a collaboration with Amazon Web Services (AWS), integrating advanced AI and analytics for greater efficiency. This collaboration focuses on providing real-time insights, predictive churn analytics, and automated workflows aimed at strengthening fraud detection and customer retention, while uncovering new revenue opportunities for businesses.
Central to this integration is Payarc's launch of Pie, the Payments Intelligence Expert. This tool, designed with AWS's analytics and AI capabilities, offers real-time insights and automation to improve the security and speed of payments. Notably, Pie can predict potential merchant churn with up to 85% accuracy, allowing Payarc's support teams to maintain and strengthen client relationships.
Pie is also equipped to enhance risk management and operational efficiency by predicting ACH payment failures and reducing disruptions. Furthermore, it automates document verification and real-time risk assessment, significantly reducing onboarding times and manual processing efforts. Pie's ability to manage reserves using AI also minimizes financial risk with a high degree of accuracy.
Zachary Martinez, CEO of Payarc, emphasizes the impact of this collaboration: “Integrating AWS’s advanced AI and data infrastructure enables us to scale intelligent decision-making across our entire ecosystem, especially within our Pie artificial intelligence tools. From predictive churn analytics to real-time risk assessment, Pie is designed to help businesses operate with greater precision, efficiency, and confidence at every stage of the payment process.”
Rich Geraffo, vice president and managing director, AWS North America, commented on the partnership, stating that AWS is committed to supporting innovative companies like Payarc to transform industries through AI and analytics. He added, "By leveraging our comprehensive suite of analytics and AI services, Payarc is not only streamlining payment operations but also demonstrating how AI can deliver tangible business outcomes—from predictive churn analytics to automated fraud detection—while maintaining the security and compliance that payment processing demands."
The integration further unveils an Agent Pricing Advisor tool that simplifies payment data into actionable insights, enabling businesses to optimize costs through precise, AI-driven quotes.
Payarc's AI ecosystem uses AWS services such as Amazon SageMaker, Amazon Redshift, and AWS Glue to ensure efficient data processing and machine learning. These technologies facilitate real-time analytics and insights, enhancing the decision-making of merchants, ISOs, and agents.
Through this collaboration, Payarc prioritizes transparency and fairness in AI decision-making, using tools like Amazon SageMaker Clarify to reduce bias in fraud detection and pricing models. This joint effort aims to build the future of intelligent payments infrastructure, helping businesses to operate more smoothly, securely, and profitably.
Overall, Payarc and AWS are transforming the payment processing landscape, providing businesses with tools that enhance operations, trust, and opportunities.