Paymetric: Secure, Compliant and Cost-Effective Payment Management Solutions

CIO VendorAsif Ramji, President and CEO
Established in 1998, Paymetric is driven by a consistent and costly problem–the inability of ERP systems to handle electronic payments as part of normal business processes. “The need for a payment management solution that could operate as a fully integrated and native component of SAP ERP lead to the development of Paymetric’s products,” says Asif Ramji, President and CEO, Paymetric.

"We constantly challenge ourselves to evolve and keep up with the dynamically changing payment acceptance landscape and offer secure payment management solutions that serve at the epicenter of our clients’ businesses"

Headquartered in Roswell, GA, Paymetric is in the forefront of innovation in the payments management landscape. The company’s flagship product, XiPay® On-demand, operates as a fully integrated and native component of SAP®, enabling customers to securely manage, accept and integrate virtually every type of electronic payment in any enterprise system. The company also claims to be the first SAP partner in the industry to offer a tokenization solution—XiSecure® On-demand—for securing payment card numbers in SAP systems. The proprietary embedded tokenization solution replaces credit card numbers in SAP enterprise systems with a token, or a surrogate value, rendering the data meaningless to hackers and thieves. XiPay On-demand coupled with the XiSecure On-demand solution reduces the cost and financial burden of meeting the Payment Card Industry Data Security Standard (PCI DSS).

In a time where merchants are losing between $200 billion to $250 billion in fraud annually, Paymetric’s XiVerify™, a securely integrated fraud management solution, offers the customers PCI compliance protection without exposure of sensitive card data. It minimizes risk and maximizes revenue, while improving detection rates and providing customers with fewer charge backs and false positives.
The company’s SAP integrated suite of solutions also include the XiTransfer™ solution, which safely handles the transmission of sensitive data; XiOptimize™, a solution that provides line-item or invoice-detail required to qualify merchants for a reduction of their interchanges; Receivables Management, a solution that enable organizations running SAP to accept electronic payments against accounting documents and automatically clear open items; and XiRecon™, a solution that seamlessly consolidates credit card settlement reporting within SAP, streamlining the reconciliation process across the enterprise.

All of Paymetric’s solutions are omni-channel, which can securely integrate, manage and accept payments from ERP systems, CRM systems, web stores, call centers, order entry and other legacy systems. Paymetric offers its suite of solutions as a Software-as-a-Service (SaaS) solution, eliminating the need for additional software and hardware.

Paymetric’s suite of solutions has been assisting Fortune 500 companies in the chemicals and life sciences; industrial, energy and technology; wholesale distribution; consumer products and retail services and public sectors for the past 15 years. For instance, Vera Bradley, a luggage design company, implemented Paymetric’s XiPay with value-added solutions including Auto AR and Web AR to enhance its B2B payment environment. The company also implemented XiSecure, Paymetric’s proprietary tokenization solution, in order to increase security and to ensure PCI compliance. With more than 40 percent of Vera Bradley’s clients adopting the system within the first year, the move was an instant success, well exceeding the goals.

Going forward, with a world-class client services team and its in-house expertise; Paymetric will continue to evolve its suite of solutions to ensure it stays at the forefront. “At Paymetric, we constantly challenge ourselves to evolve and keep up with the dynamically changing payment acceptance landscape and offer secure payment management solutions that serve at the epicenter of our clients’ businesses,” concludes Ramji.

Company
Paymetric

Management
Asif Ramji, President and CEO

Description
Provider of a secure, integrated payment acceptance solution that enables companies to optimize the OTC process, improving returns on electronic payment