|Description||Payment card solutions|
|Series A, 1/2005 |
|Venture Round, 1/2009 |
|Series B, 8/2009 |
|Partial Close, 9/2010 ||$500k|
|Partial Close, 8/2011 ||$4M|
|Venture Round, 8/2013 |
Paymetric, Inc. provides innovative solutions for managing, protecting and integrating payment card transactions in enterprise systems, such as SAP and legacy ERP, CRM and accounting applications. Paymetric customers benefit by improving return on card acceptance, optimizing purchasing card programs and reducing barriers to data security compliance. An Austin Ventures portfolio company, Paymetric is an award-winning SAP partner and a certified SAP developer.
Formed in 1998 in Houston, Texas, Paymetric was founded by two former SAP employees with the vision of delivering advanced payment solutions for large enterprise customers. This vision was driven by a consistent and costly customer problem – enterprise accounting systems are not able to handle electronic payments as part of normal data flows and business processes. Fragmented data and workflows generate slow, costly, and unreliable results from critical business processes. System patches implemented in an attempt to minimize this problem result in added costs, maintenance challenges, and compliance issues. The vision for a solution that operates as a fully integrated and native component of ERP systems led to the development of XiPay, an intelligent transaction processing engine that is the core component of Paymetricâ€™s modular payment processing solutions.