U.S. Bank Home   Customer Service   Contact Us   Locations   Careers   About U.S. Bancorp   
U.S. Bank



Related Links
Careers at U.S. Bancorp
Community Relations
Corporate Governance
IR Tool Kit
Print PagePrint Page
E-mail PageE-mail Page
RSS FeedsRSS Feeds
IR ContactsIR Contacts

Printer Friendly Version View printer-friendly version
<< Back
U.S. Bank, Paymetric Add Value to Purchasing Card Programs

HOUSTON & MINNEAPOLIS--(BUSINESS WIRE)--April 4, 2007--U.S. Bank Corporate Payment Systems, a division of U.S. Bancorp and one of the world's largest issuers of Visa(R) purchasing cards, and Paymetric, Inc., a provider of innovative payment card software solutions, have entered into a partnership agreement to enable organizations to manage purchasing cards within SAP, industry leading enterprise resource planning software, to take full advantage of SAP's controls, data, management capabilities and underlying business processes.

Paymetric XiBuy allows U.S. Bank customers to seamlessly integrate their U.S. Bank Purchasing Card data into their SAP systems and their procure-to-pay processes, further leveraging these investments and reducing the number of offline systems.

"Together, U.S. Bank and Paymetric can provide better value to our Visa and MasterCard clients. We've developed a joint approach to introduce and deliver the unique benefits of Paymetric's XiBuy, and a U.S. Bank Purchasing Card program," said Robert Abele, president, U.S. Bank Corporate Payment Systems. "Purchasing card transaction data can be loaded directly from U.S. Bank into SAP with no separate system or database to maintain and provides clients with real-time access to transaction data." XiBuy resides within SAP, allowing purchase orders to be paid with a purchasing card and reconciled automatically to streamline operations and improve efficiencies.

Utilizing XiBuy can reduce the cost of transaction processing, improve the visibility and control of purchasing card spend, and extend the use of purchasing cards into new spend categories. Designed exclusively for SAP and for purchasing card programs, this solution delivers a new model for SAP businesses looking to optimize cards as part of a single, complete accounts payable solution. XiBuy has earned "Powered by SAP NetWeaver(R)" certification.

"U.S. Bank clients can now leverage their investment in SAP through XiBuy and gain additional process savings by using the U.S. Bank Purchasing Card as a preferred payment method for purchase order spend," stated Chad Wilkins, senior vice president, U.S. Bank Corporate Payment Systems. "Efficiencies are gained by being able to allocate, approve and reconcile purchasing cards transactions within SAP, thereby synchronizing the processes used to manage U.S. Bank Purchasing Card programs with those used for purchase orders."

"The ability of XiBuy to facilitate higher dollar purchases to be paid via purchasing cards within SAP without losing control, audit or visibility is a huge benefit to both Paymetric and U.S. Bank Purchasing Card clients, and one of the primary reasons for this agreement," said Steve Putney, president of Paymetric. "Using XiBuy, organizations can expand into new spend categories without compromising risk and controls. Our sophisticated transaction allocation and approval strategies enable users to accurately account for purchases and our purchase order capabilities help clients extend their program beyond traditional purchases with a new payment method."

Paymetric participated in the 2007 U.S. Bank Financial Supply Chain Conference, March 20-22 in Dallas. This event provided U.S. Bank clients with hands-on demonstrations of how U.S. Bank and Paymetric can help drive processing efficiencies and cost savings.

About Paymetric, Inc.

Paymetric, Inc. provides software applications that manage and protect payment card transactions in complex payment environments enabling companies to improve return on card acceptance, expand purchasing card programs and comply with data security standards. Paymetric is an Austin Ventures portfolio company, an award-winning SAP Software Partner and an SAP Pinnacle award recipient. Visit www.paymetric.com for additional information.

About U.S. Bank

U.S. Bancorp (NYSE:USB), with $219 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,472 banking offices and 4,841 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.

    CONTACT: U.S. Bank
             Teri Charest, 612-303-0732
             Tim Girgenti, 713-895-2000

    SOURCE: U.S. Bank Corporate Payment Systems
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information. U.S. Bancorp does not undertake an obligation, and disclaims any duty, to update any of the information on or available through this site.

This site is supported through the use of Microsoft Internet Explorer Browser, version 6.x or higher. Use of older or other browsers may cause pages to improperly display. We regret any inconvenience that this may cause.

Privacy Pledge   |   © 2010 U.S. Bancorp Site Map   |   Careers