Our Paymetric partnership
This is one of those matches made in heaven. It just makes so much sense!
eCommerce websites and credit cards are like bread and butter. Each is good by itself, but they are so much better together.
Truth be known, most of the hundreds of thousands of dollars worth of transactions that flow daily through our b2b2dot0 B2B service into SAP are purchase order based. They don’t require online payment processing during the checkout process. However, we have repeatedly heard of three business scenarios in the past two years where credit cards (and electronic payments in general) could be of value to our manufacturing clients. They have:
- Corporate customers and smaller dealers who would prefer to pay by credit card
- Smaller dealers with credit risks thay they would prefer not extending credit to, nor incurring the associated invoicing and collection costs and risks.
- Consumers that would like to buy direct, precipitating their move into the B2C business model where credit cards are de rigeur.
We’ve been wrestling with how we were going to provide credit card support via our service for quite awhile. Frankly, we’ve been humbled (and somewhat intimidated) by the complexities of the security issues surrounding credit card processing and the details of how SAP supports these payment methods.
That’s why our partnership with Paymetric makes so much sense.
Their SaaS based Xi Pay On-Demand solution is THE solution to the challenge. Their architecture enables a simple integration with our service and our client’s SAP system. Their “black box” takes on all of the responsibilities for integrating with all of the payment services and for making sure that all of us adhere to the latest Payment Card Industry (PCI) Standards.
During my conversations with the folks at Paymetric, I was also exposed to a new scenario that b2b2dot0 will surely support in the future; the online payment of receivables…or receivables management in their parlance. According to a recent survey by the Association of Financial Professionals, B2B payments by check have fallen 23% in the past three years. In addition, 50% of the surveyed merchants will be shifting to electronic payments in the next three years. b2b2dot0 and Paymetric are going to be right there with them!
The collaboration between SAP, Paymetric and b2b2dot0 is the fulfillment of the promise of Software-as-a-Service (SaaS) applications extending the value of enterprise systems. Each of us has our own core competency and acting together we unleash real value for our mutual clients.
I can’t wait to share our first case study!