openPR Logo
Press release

United Thinkers releases Reconciliation Dashboards

02-27-2018 09:29 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: United Thinkers

United Thinkers

United Thinkers

United Thinkers added reconciliation dashboards to its flagship gateway product, UniPay Gateway

New York, NY – (February 26, 2018): United Thinkers, a New-York based commercial open-source Payment Management Software provider, added the initial version of reconciliation dashboards logic to UniPay Gateway, its core gateway software product. The new logic represents a set of tools for reconciliation of financial transactions between the processing platform of a payment facilitator and the underlying acquirer/processor.

One of the most common problems, faced by payment facilitators, is the process of reconciliation of processed transactions between merchants and processors, or reconciliation of the volumes processed by merchants and the deposits made to them. In the process of reconciliation, not only payments, but also chargebacks and returns need to be taken into account. This requirement is one of the factors that significantly complicates the process of becoming a payment facilitator. Many businesses are struggling to implement a reasonable reconciliation procedure. The situation becomes even more complex if more than one payment processor is involved.

Another matter that further complicates reconciliation process and analytics (such as card types, interchanges for which transactions qualify as well as overall cost charged for transaction processing etc) around payment processing is that all the necessary information is rarely available in some unified report that can be compiled by the processor. The data often has to be extracted from different sources and then combined and restructured as necessary.

In view of these problems, which have been very relevant for enterprise-level UniPay Gateway users, United Thinkers expanded the existing logic of UniPay Gateway platform. A new overall architecture was developed, allowing clients to receive data from different sources in different formats and aggregate it in order to facilitate reconciliation process and visualize the results in the form of dashboards. Reconciliation dashboards provide an opportunity to clearly see the balance between processed transactions on gateway’s and acquirer’s ends and easily identify discrepancies, as well as their reasons. Beside that, the dashboards allow users to analyze data according to selected criteria, such as transaction types, processing costs etc.

“Addition of reconciliation dashboards to the existing UniPay logic is an important step, because it allowed us to, finally, standardize the reconciliation process within our platform. Now when we implement integrations with acquirers, we can ask for the reconciliation reports that enable our system to provide an aggregated view of reconciliation data in a simple and clear format” says United Thinkers president, Eugene Kipnis. “Currently, we keep working on remittance reconciliation dashboards that will allow us and our customers to gain a better insight into the merchant funding process”

The newly-added reconciliation dashboards are, in a way an extension of gateway functionality, implemented for the convenience of payment facilitators, and making UniPay platform one of the most robust and flexible modern tools, available to PayFacs.

About UniPay

The appeal of the UniPay Platform is the open-source nature, affordable cost, robust omni-channel feature set, as well as the advanced API’s and wide variety of Code Samples for easy integrations.

The components of UniPay are UniCharge, UniBill, and UniRead Modules (www.UniPayGateway.com):

UniPay Gateway platform has numerous APIs, its own EMV terminal solution, and mobile solution. It is integrated with all major processors and payment facilitation platforms in North America.

To receive more information, please contact Info@UnitedThinkers.com

About United Thinkers ( www.UnitedThinkers.com )

United Thinkers is an enterprise software development company that specializes in payment gateway technology development. The UniPay Gateway is the company’s flagship product. For more information about payment processing vision of UniPay, please visit our blog at www.Paylosophy.com

United Thinkers
unitedthinkers.com/
244 5th Ave, Suite E204
New York, NY 10001
(888) 491-9289 (toll-free)
sales@unitedthinkers.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release United Thinkers releases Reconciliation Dashboards here

News-ID: 958272 • Views: 162

More Releases from United Thinkers

Enterprise Payment Technology for Venture Capital and Private Equity Companies
United Thinkers has launched a new program for companies with portfolios New York, NY – (March 7, 2019): United Thinkers, a New-York based commercial open-source Payment Management Software provider has launched a new program, targeted at venture capital firms and private equity houses. The new program allows companies with portfolios to come up with efficient portfolio processing optimization strategy. The new program introduced by United Thinkers helps a venture capital or
“Fundamentals of Payment Processing”: Free Guide
United Thinkers releases a guide on fundamentals of payment processing for all categories of merchant services industry players New York, NY – (November 14, 2018): United Thinkers, a New-York based commercial open-source Payment Management Software provider has published a guide on fundamentals of payment processing for different categories of merchant services industry players, such as merchants, payment facilitators, independent sales organizations, and payment service providers. United Thinkers published a free guide providing
White-label Payment Facilitator Program
United Thinkers launches a white-label facilitator program New York, NY – (September 25, 2018): United Thinkers, a New-York based commercial open-source Payment Management Software provider has launched a white-label payment facilitator program as a flexible and easy solution for businesses that consider becoming payment facilitators, but are unready to assume all PayFac-specific responsibilities all at once. Having successfully implemented a white-label payment gateway program in partnership with some of the major
EMV Payment Terminal Solution for You
United Thinkers released an updated version of a free white paper explaining how to choose the right EMV payment terminal solution New York, NY – (September 3, 2018): United Thinkers, a New-York based commercial open-source Payment Management Software provider has updated its popular white paper for EMV payment terminal solution selection in accordance with the realities and latest requirements of merchant services industry. United Thinkers published a free white paper providing tips

All 5 Releases


More Releases for UniPay

E-Commerce Payment Market 2019 Worldwide Analysis By Key Players – AliPay, Uni …
The Worldwide e-Commerce Payment Market was valued at USD 23.70 Billion in 2016 and is projected to reach USD 25.43 Billion by 2025, growing at a CAGR of 13.0% from 2018 to 2025. E-Commerce payment : E-Commerce payment is a method of payment that allows direct payment processing or for online vendors. This form of payment has proven to increase the overall efficiency in the online payment service as well as have
United Thinkers Completes Card-present EMV Integration with TSYS
United Thinkers has recently completed integration of its flagship product UniPay Gateway with TSYS New York, NY – (August 6, 2018): Working on behalf several of its customers, United Thinkers, a New-York based commercial open-source Payment Management Software provider, completes works on TSYS integration. TSYS integration has already been in place as part of the UniPay Gateway product for quite a time now, however recently, several important innovations have been introduced.
United Thinkers Strengthens UniPay Gateway Security with Point-to-point Encrypti …
United Thinkers adds new point-to-point encryption logic to its terminal application, part of UniPay Gateway product New York, NY – (March 19, 2018): United Thinkers, a New-York based commercial open-source Payment Management Software provider extended the existing payment security and fraud prevention logic implemented in its terminal application with built-in point-to-point encryption solution. The already existing payment security logic that supports processor-specific point-to-point encryption is now strengthened with UniPay’s native logic,
Free Acquirer Integration Offer for Payment Facilitators
United Thinkers offers for a limited time a free acquirer integration to payment facilitators New York, NY – (March 14, 2018): United Thinkers, a New-York based commercial open-source Payment Management Software provider announces a special offer that can provide significant savings to existing payment facilitators, looking for a better technology, or companies that are in the process of becoming payment facilitators. UniPay Gateway has earned a reputation of a stable and robust
United Thinkers Introduces Split Payment Logic for Recurring Billing
New York, NY – (March 5, 2018): United Thinkers, a New-York based commercial open-source Payment Management Software provider adds split payment logic for recurring billing to the existing functionality of its core UniPay Gateway product. The new logic is targeted at recurring payments; it provides the opportunity to split recurring payment amounts among multiple recipients. The already existing logic allows UniPay Gateway platform to split online payments processed in real
UniPay Gateway Proof-of-concept is now available from United Thinkers
United Thinkers offers a new Proof-of-concept deal to all businesses that want to improve their payment technologies and customer experience in 2018 New York, NY – (December 24, 2017): United Thinkers, a New-York based commercial open-source Payment Management Software provider, introduces a new Proof-of-concept Offering for Payment Facilitators whose New Year’s resolution for 2018 is improvement of their payment technology and processing experience of their merchants. These companies are invited to