Paymetric

About Paymetric

Paymetric, established in 1998, specializes in secure, integrated payment solutions tailored for complex enterprise environments. The company operates as a subsidiary within the broader financial technology landscape, having undergone a series of significant ownership changes that highlight its strategic value in the payments sector.

Initially founded in Texas, Paymetric relocated its headquarters to Roswell, Georgia, in 2009 to leverage the region's prominence as a fintech hub. This move coincided with the appointment of Asif Ramji as President and CEO, a seasoned entrepreneur with prior experience at RBS WorldPay. Ramji's leadership, which began in 2009 and transitioned to CEO in 2011, marked a period of substantial growth, including raising venture capital and executing a private equity transaction with Francisco Partners in 2013. His entrepreneurial background includes founding loyalty and prepaid card businesses, experience that informed his strategic direction at Paymetric. Larry Wine also served as CEO of Paymetric at one point, bringing his own extensive experience from leadership roles at WorldPay and Moneris US.

Paymetric's core business revolves around its cloud-based, multi-tenant platform, XiPay, which automates and secures B2B payment workflows. This platform is designed to integrate directly into enterprise resource planning (ERP) and customer relationship management (CRM) systems such as SAP, Oracle, and Salesforce. A key feature is its patented tokenization technology, which replaces sensitive payment card data with a secure token. This process ensures that raw card information does not enter the client's enterprise systems, significantly minimizing the risk of fraud and reducing the scope of PCI compliance. The company's solutions facilitate credit and debit card acceptance, electronic checks/ACH payments, and streamline the entire order-to-cash process for large global brands in sectors like manufacturing, life sciences, and consumer products.

The company's trajectory has been shaped by major acquisitions. In April 2017, Vantiv, Inc. announced its agreement to acquire Paymetric, aiming to expand into the high-growth B2B payments vertical and enhance its e-commerce technology capabilities. Shortly thereafter, in January 2018, Vantiv completed its own transformative acquisition of Worldpay Group, with the combined entity rebranding as Worldpay, Inc. This series of consolidations continued when, in July 2019, financial services technology giant FIS (Fidelity National Information Services) acquired Worldpay for approximately $43 billion, incorporating Paymetric's capabilities into its vast portfolio of merchant and financial institution solutions. More recently, in July 2023, private equity firm GTCR acquired a majority 55% stake in Worldpay from FIS.