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PAYMETRIC ANNOUNCES ANOTHER RECORD QUARTER OF SALES 

With Rising Interest in Tokenization, Company Continues Year Long Growth Surge
 

Atlanta – April 19, 2010 -Paymetric Inc., the leading provider of integrated and secure enterprise payment acceptance solutions, today announced the first quarter of 2010 was another period of record sales for the company. During the first three months of this year, Paymetric secured a 150 percent growth in the number of signed customer agreements and a 200 percent growth in monthly recurring revenue (MRR) over Q1 2009. 

“Our continued momentum the first part of this year points directly to the industry’s eagerness to implement tightly integrated and secure payment solutions.  In the first few months of 2010 we saw 300 percent growth in signed contract value over the same time period the previous year,” said Larry Wine, CEO, Paymetric. “Companies are realizing they have to get a stronger handle on security of customer information. Our tokenization solutions help them do that.”

Paymetric’s XiPay™ On-Demand and XiSecure™ On-Demand solutions enable companies to manage, accept and integrate virtually every type of electronic payment in any enterprise system in an extremely secure, cost-effective way utilizing Software-as-a-Service (SaaS) delivery and tokenization technology, respectively. As recent research from industry analyst firm Aberdeen Group attests, “the use of tokenization is strongly correlated with the achievement of Best-in-Class results.” (Avoiding a Kick to the Head: The Value of Tokenization for Protecting Cardholder Data, February 2010)

“Our continued acquisition success is testimony that we provide real value to our customers,” said Asif Ramji, executive vice president and general manager of Integrated Payment Solutions, Paymetric.  “Our services consistently have proven to reduce IT and customer attrition costs, mitigating the headache executives encounter when trying to integrate and secure electronic payment processing capabilities within their enterprise systems.”

In the first quarter of 2010, the company also added to the executive team, announcing the hire of Mike Rivers as chief operating officer. In addition, Bill Hancock was named as vice president of SaaS operations and Eric Louttit was brought on board as vice president of channel sales.

ABOUT PAYMETRIC
Paymetric, Inc. is the leading provider of integrated and secure electronic payment acceptance solutions that enable companies to streamline the order-to-cash process, reduce the scope and financial burden of achieving PCI compliance and improve return on electronic payment acceptance. Paymetric’s solutions support virtually every type of electronic payment in any enterprise system where payment is accepted. Paymetric is recognized as an industry leader and is a three-time award-winning SAP certified partner. Visit www.paymetric.com for additional information.

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