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UATP Continues Payment Innovation, Receives Approval For Patent For Its Alternative Payment Processing Technology
Thursday, April 1, 2021
Ceptor® Processing Solution Developed by UATP In-house for Alternative Form of Payment Processing
WASHINGTON, March 24, 2021 /PRNewswire/ -- Today UATP announced that the US Patent and Trademark Office indicated it will grant a patent for UATP's technology underlying Ceptor, UATP's in-house built Alternative Forms of Payment (AFP) processing solution. Ceptor was built to allow UATP Merchants to connect easily to AFPs offered by UATP without incurring significant integration costs.
"We wanted to build technology both to advance and to simplify the process for our Merchants seeking to accept AFPs and we created Ceptor as the easy integration option," stated UATP President and CEO, Ralph Kaiser. "Ceptor enables Merchants to obtain speed-to-market and connectivity to multiple AFPs without a heavy technology lift while creating efficient reconciliation with no further manual processes necessary." Kaiser continued, "UATP is in a unique position to help the airline industry and we will continue to innovate and offer the needed payment options and related technology products to optimize airline payment strategy."
Ceptor enables AFPs to run on the UATP Network and automatically adapts to each AFP's unique integration, reconciliation and support models and connects them to Airline Merchants. This allows an Airline Merchant to work with as many AFP partners as it chooses, using the same reconciliation process they are used to without investing significant resources to manually reconcile and settle each new set of AFP transactions. As an added benefit, Ceptor generates tokenized single-use UATP account numbers with each transaction to provide a more secure environment keeping the consumer's AFP account details anonymous.
Kaiser added, "The patent approval validates UATP's internal innovation strategy. We are adding new fintech products and services and will continue to work with all our partners to solve the airline industry's payment problems and address future needs."
For more information, visit UATP.com
ABOUT UATP
UATP is a global payment network owned and operated by the world's airlines and accepted by thousands of merchants for air, rail and travel agency payments. UATP connects airlines to Alternative Forms of Payment which can expand reach and generate incremental sales globally. UATP offers easy-to-use data tools, DataStream(®) and DataMine(®), which provide comprehensive account details to Issuers and corporate travel buyers for accurate travel management.
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; Air Serbia; American Airlines (NASDAQ: AAL); APG Airlines; Austrian 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; Japan Airlines (9201:JP); JetBlue Airways; Qantas Airways (QUBSF.PK); Shandong Airlines; Sichuan Airlines; Southwest Airlines (NYSE: LUV); Sun Country Airlines; TUIfly GmbH; Turkish Airlines (ISE:THYAO); United Airlines (NYSE: UAL) and WestJet.
AirPlus International issues the UATP-based Company Account for Lufthansa German Airlines.
Contact:
UATP Corporate Communications
Wndy Ward, wward@uatp.com
+1 202 250 4665
View original content to download multimedia:http://www.prnewswire.com/news-releases/uatp-continues-payment-innovation-receives-approval-for-patent-for-its-alternative-payment-processing-technology-301254527.html
SOURCE UATP
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