--Technology leverages existing SAP applications and consolidates multiple financial systems--
Houston - May 20, 2002 - Paymetric, Inc., the leading provider of payment processing software that integrates fully with SAP and other ERP systems, today announced that Moen Incorporated, one of the largest producers of residential and commercial plumbing products, has successfully streamlined its SAP business processing systems with Paymetric’s XiPay Server 2.0 software.
“The XiPay technology has proven to be the principal solution for significantly reducing wait time and associated telephone costs in the credit card approval process. Since implementing XiPay, Customer wait time for credit card approval has dropped from a costly two minute average to a consistent, instantaneous response,” said Denece Shields, Director of Consumer Services, at Moen Incorporated. “Additionally, the integrated systems have improved our internal productivity and allowed us to save valuable resources-time and money-by standardizing our systems into this one unified solution.”
Moen, which sells replacement parts, accessories, and various freight options to consumers through its online Web Store and Consumer Services Center, integrated Paymetric’s XiPay into its SAP applications to decrease payment acceptance and reconciliation wait times. Through this process, Moen consolidated independent computer systems, decreased the time needed to process online payments and improved data collection capabilities by integrating information from multiple locations.
“XiPay is the single payment solution for the enterprise,” said Brett Walker, president of Paymetric. “Not only does it decrease the time needed for authorizations, it also provides a flexible, scalable solution that will adapt to current and future requirements for financial processing.”
In addition to application integration, XiPay offers real-time payment card and electronic check processing, fraud detection, browser-based graphical reporting tools, and support for a full range of payment origination points and certified interfaces.
Moen Incorporated is one of the world`s largest producers of residential and commercial plumbing products. Moen is the number one brand of faucets in North America. The company manufactures a complete line of single and two-handle faucets in a wide assortment of styles and finishes. It is also a leading producer of residential and commercial sinks and a variety of shower accessories, and manufactures a complete line of plumbing parts and accessories (sold under the trade names Moen, Chicago Specialty, Dearborn Brass, Hoov-R-Line and Wrightway Manufacturing).
Moen Incorporated is part of Fortune Brands Home and Office Products, an operating company of Fortune Brands, Inc. (NYSE: FO), an international consumer products company with headquarters in Lincolnshire, IL.
Paymetric, Inc. provides enterprise payment solutions and services that deliver a framework for control, management and leverage of transaction processing and integration to other enterprise applications. Founded in 1998, Paymetric has emerged as the market leader through its domain expertise, commitment to customer service and superior product functionality. Based in Houston, Texas, the company has more than 30 enterprise customers including Johnson & Johnson, Colgate-Palmolive, Louisville Slugger and Roche Diagnostics. The company’s flagship product, XiPay, provides real-time payment card and electronic check processing, fraud detection, browser-based graphical reporting tools, support for a full range of payment origination points and certified interfaces and APIs to many existing business systems, including leading ERP systems such as SAP R/3. For more information, visit www.paymetric.com