UATP Receives Second Patent Approval for Innovative Alternative Form of Payment Processing Solution

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 [email protected].

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.

SOURCE Universal Air Travel Plan, Inc. (UATP)