Paymetric Releases Next Generation Payment Engine Software

HOUSTON - Paymetric, a provider of innovative payment card software solutions, has announced the latest release of its industry leading payment processing engine XiPay™ 3. The new version of XiPay offers increased cardholder data security, faster performance and greater operational efficiency to provide an organization maximum control over payment card transactions. Paymetric’s flagship product manages and protects credit card transactions across a variety of enterprise applications including enterprise resource planning (ERP) systems, web stores, call centers and custom applications.

“Recent high-profile data security breaches have brought the protection of credit card information to the forefront of discussions,” said Ty Miller, Paymetric chairman and CEO. “Organizations are seeking to secure sensitive transaction information from unauthorized access to meet compliance regulations and maintain customer loyalty. Our latest solution helps companies achieve this goal and is aligned with industry-driven payment card security standards.”

XiPay 3 uses updated encryption techniques based on the latest Advanced Encryption Standard (AES) algorithms to make card information unreadable as it is processed and stored in XiPay. Key management and rotation capabilities provide the functionality required by Visa and Payment Card Industry (PCI) standards for protection of cardholder data. Additionally, XiPay 3 provides the capabilities around user management, access control and logging, thus allowing companies to further protect their customer’s data. Equally important, XiPay 3 can extend its encryption capabilities into SAP, enabling SAP customers to rapidly and efficiently comply with PCI data security standards.

“We have been providing encryption technology to protect cardholder data since 2002,” said Gary Epple senior vice president of product development and services at Paymetric. “In our latest version we sought to add key management and key rotation functionality that would help our clients safeguard sensitive information and quickly meet PCI DSS standards.”

XiPay 3 also brings enhanced performance to users by providing increased system capacity, higher throughput rates for payment transactions and new batch monitoring features. The number of transactions processed per second has increased by more than three times and the average transaction response time has decreased significantly – resulting in a more cost effective and responsive customer credit card processing system.

“Our new graphical user interface (GUI) is more intuitive and we’ve added reporting and monitoring capabilities to notify users of the batch settlement status and enable batch settlement resubmission,” stated Epple. “We’ve worked very hard to make this version easier-to use while still delivering on the robust features our customers need to process critical payment transactions efficiently.”

Operational enhancements have decreased the overall cost of ownership through additional system features like providing new facilities for more effectively managing batch submissions of credit card transactions to processors. This release also includes improved system deployment and maintenance tools.

By using XiPay, organizations are able to streamline payment processes, meet PCI compliance requirements and leverage investments in ERP systems like SAP. XiPay 3 has been validated against Visa’s Cardholder Information Security Program (CISP) Payment Application Best Practices.