Universal Air Travel Plan, Inc. (UATP)
15th February 2024, 09:19 ET
Washington, 15th of February, 2024 /PRNewswire/ — Universal Air Travel Plan, Inc. (UATP), a global payment network, has recently received approval from the US Patent and Trademark Office for its Enhanced Intermediate Server technology. This cutting-edge technology is designed to revolutionise the speed, efficiency, and control of processing transactions for merchants utilising the UATP One platform.
This marks the second patent granted to UATP since 2021, demonstrating the company’s ongoing commitment to fostering innovation to enhance the value offered to its clients. The Enhanced Intermediate Server technology has been developed to streamline and expedite transactions between acquirers and the UATP One platform, ultimately reducing processing lags and increasing cost savings for merchants.
UATP’s newly patented technology is poised to redefine the way travel agency transactions are handled. It empowers transactions that are traditionally submitted in batch form to be submitted to acquirers individually, eliminating the constraints and inefficiencies associated with batch processing. This critical improvement will lead to a significant increase in transaction processing speed and efficiency, offering a substantial advantage to UATP One merchants.
Ralph Kaiser, UATP’s President and CEO, remarked, “This patent represents a significant step forward in how payments are processed. The entire industry has been seeking an efficient solution to the inefficiencies of batching payments, but no one has actually built one – until UATP. Innovation is integral to our mission and growth strategy, and by adding this key capability to our newest business line, UATP One, we are expanding the horizons of merchant payment services.”
Furthermore, UATP’s patented parsing engine technology provides the company with a unique advantage, requiring other parties seeking to process BSP transactions in a similar manner to either license the technology from UATP or devise an entirely new solution. This further solidifies UATP’s position as a leader in sorting, reconciling, and channeling BSP sales to acquirers, presenting another crucial benefit for UATP One merchants.
The addition of the Enhanced Intermediate Server technology patent follows UATP’s 2021 patent approval for its Alternative Forms of Payment (AFP) processing solution, Ceptor, further emphasising the company’s commitment to driving innovation and pioneering new payment solutions for its merchants.
For further details about UATP and its patented technologies, interested parties are encouraged to contact Wendy Ward at [email protected].
ABOUT UATP
UATP is a global payment network that simplifies payments in complex industries. By enabling businesses to make or accept any type of payment, UATP assists in opening new markets, driving growth, and reducing costs for Issuers, Merchants, vendors, agents, aggregators, and more. The company is renowned for its continuous innovation in connecting companies to new forms of payment (AFPs) and providing comprehensive account details to Issuers and Corporate Account Holders through its easy-to-use data tools, DataStream® and DataMine®. With decades of experience in the ever-changing payments landscape, UATP’s reliable and proven technology ensures that global customers get more from every payments experience. Learn more at uatp.com.
The UATP account is accepted as a form of payment for corporate business travel worldwide by a myriad of airlines, travel agencies, and Amtrak®.
-SOURCE Universal Air Travel Plan, Inc. (UATP)
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