WASHINGTON, May 7, 2024
/PRNewswire/ -- UATP, the global payment network that enables
organizations to simplify payment processes to expand their payment
capabilities, has received approval from the US Patent and
Trademark Office (USPTO) for its second patent application related
to Batch Processing Composition and Conversion.
The technology, which will be protected by a US Patent, supports
Ceptor, UATP's in-house developed Alternative Form of Payment (AFP)
processing solution. Ceptor allows UATP Merchants to connect easily
to the hundreds of AFPs offered by UATP without incurring
significant integration costs or adopting new reconciliation
processes.
This is the third patent UATP has received for its payment
technology since 2021, reflecting a commitment to financial
technology innovation by continually adding new value for clients.
In February 2024, UATP's patent
application for an Enhanced Intermediate Server was approved by the
US Patent and Trademark Office, supporting our UATP One processing
business.
"This patent represents our dedication to helping businesses
unlock more value from payment technologies. Ceptor provides UATP
Merchants with easy connectivity to and efficient reconciliation
with multiple AFPs without a heavy technology lift," said UATP
President and CEO Ralph Kaiser.
"Connecting easily to AFPs means a more optimized payment strategy
that brings more completed transactions, happier customers, and
incremental revenue."
Ceptor enables AFPs to quickly connect to Airline Merchants. The
technology automatically adapts to each AFP's unique integration,
reconciliation and support models. This allows an Airline Merchant
to work with as many AFP partners as it chooses, using the same
reconciliation process they are accustomed to without investing
significant resources to manually reconcile and settle each new set
of AFP transactions.
Growing to more than $19
trillion globally, the AFP market helps companies align
their payment strategies with how their customers are paying. UATP
helps businesses connect to 300+ alternative forms of payment
(AFPs) around the world, helping them broaden their customer base
and bolster their payments strategy.
For more information about the UATP and its patented
technologies, please visit UATP.com or contact Wendy Ward at wendy.ward@uatp.com.
ABOUT UATP
UATP is the global payment network simplifying payments in complex
industries. We make it easy for businesses to make or accept any
type of payment; open new markets, drive growth and reduce costs
for Issuers, Merchants, vendors, agents, aggregators and more. UATP
is continually innovating to connect companies to new forms of
payment (AFPs), and our easy-to-use data tools,
DataStream® and DataMine®,
provide comprehensive account details to Issuers and Corporate
Account Holders. Our team has decades of experience with the
ever-changing payments landscape, and our reliable and proven
technology ensures our global customers get more from every payment
experience. Learn more at uatp.com.
Accepted as a form of payment for corporate business travel
worldwide by airlines, travel agencies and Amtrak®; UATP
accounts are issued by: Aeromexico; Air Canada (TSE: AC); Air
China; Air New Zealand (ANZFF.PK); Air Niugini; American Airlines
(NASDAQ: AAL); APG Airlines; Austrian Airlines; Avianca
Airlines; BCD Travel; China Eastern Airlines (NYSE: CEA);
Delta Air Lines (NYSE: DAL); EL AL Israel Airlines; Etihad
Airways; Fareportal; Frontier Airlines; GOL Linhas Aereas
inteligentes S.A. (NYSE: GOL and Bovespa: GOLL4); Hahn
Air; High Point Travel; Japan Airlines (9201:JP); JetBlue Airways;
LATAM Airlines; Link Airways; Qantas Airways (QUBSF.PK); Shandong
Airlines; Sichuan Airlines; Southwest Airlines; Sun Country
Airlines; TUIfly GmbH; Turkish Airlines (ISE: THYAO); United
Airlines (NASDQAQ: UAL) and WestJet. AirPlus International issues
the UATP-based Company Account for Lufthansa German Airlines.
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SOURCE Universal Air Travel Plan, Inc. (UATP)