Downtime Insurance for Payments Services

Your customers expect you to accept and process their payments at all times, but you have no control over what happens when your payment service provider goes down. This is where Parametrix comes in with our simple, smart and affordable policies for businesses that rely on external providers for their critical activities and need to quickly get back to business after an outage!

What Happens When Your Payment Service Goes Down?

What you do have control over is the outage-related financial risk which can be quite significant. A single hour of downtime can cost SMEs tens of thousands of dollars, while for larger companies the losses can add up to far more than that.

Do you really want to risk the financial exposure created by your payment provider’s downtime events? While they may compensate you with credits, you still need to cover an array of financial losses such as:

Lost Revenues

Downtime can strain your company’s financial reserves due to unexpected monetary exposures which increase the volatility of your cash flows.

Lost End-user Productivity

When services stop working, productivity grinds to a halt for employees who can’t do their jobs and for customers who can’t complete their purchases.

Customer Compensation

The need to offer compensation to customers in order to mitigate any damage to your brand’s reputation can directly affect your balance sheet.

Lost or Damaged Data

Downtime can prevent data from being captured, recorded and stored, requiring time-consuming work as people have to re-enter or reconfigure it later.

Lost Employee Productivity

Your IT and service teams need to shift from their normal working activities to figuring out how to support customers & bring the business back online.

Reputational Damage

Your customer service, marketing and sales teams need to handle the negative feedback and update clients, some of whom may never come back.

Our Policies Provide Certainty From Day One

What payment you will receive

Specify the coverage amount according to your business needs so you know exactly how much compensation you will receive 

What damages are covered

Our policies cover every type of loss that results from 3rd-party outages including revenues, liabilities, productivity and more

What services/regions are included

Tailor the policy to your payment services so that you quickly receive a payout when your third-party provider is impacted

When the coverage kicks in

By specifying your preferred waiting period you can determine exactly how much downtime risk you want to retain on your side

When you will receive the payment

Once your policy is activated, you will receive your payment within 15 days without the need for a claims adjustment process

When you should make changes

We help you understand your downtime risks by providing actionable insights that help optimize your payment systems

How you can use the funds

The policy can be used to indemnify any financial loss, whether SLA costs, loss of income, overtime costs, or any other losses

How easy it is to expand coverage

Cover as few or as many services as you need at any moment, and easily add more as you scale up your payment usage

How reliable our monitoring system is

Our system continuously tracks the health of your payment services so you are alerted as soon as a downtime event occurs

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Want to learn more?

Learn more about the only affordable coverage for the rapidly growing downtime risks created by third-party cloud-based providers

Learn more about coverage for downtime caused by cloud service providers such as AWS, Azure and GCP

Learn more about coverage for downtime caused by ecommerce service providers such as Shopify and BigCommerce

Learn more about coverage for downtime caused by CRM service providers such as SalesForce and HubSpot

Learn more about coverage for downtime caused by CDN service providers such as Cloudflare and Fastly

Downtime happens.
We make sure you’re
financially protected.

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