UniPay Platform Implements New Merchant and Consumer Fraud Mitigation Tools
In its latest release, UniPay Payment Management Platform enhances its existing fraud prevention functionality with a set of new Merchant and Consumer Fraud Mitigation Tools for PayFac’s, PSP’s and Merchants.
New York, NY – (October 1, 2014): United Thinkers, a New-York based commercial open-source Payment Management Software provider announces the addition of Advanced Merchant Fraud Logic as well as increased Consumer Fraud Tools to the UniPay Payment Management Platform for Payment Facilitators.
As a result of growing concerns around Merchant and Consumer Fraud, United Thinkers has added respective functionality to the UniPay Payment Management Platform. The platform is used by a considerable number of Payment Facilitators and Payment Service Providers, who are potential targets of fraud from their Merchants, this release provides them the tools to detect and prevent Merchant Fraud.
To help PayFac’s and PSP’s detect Merchant Fraud, the system is designed so that specific monitoring criteria can be configured on per-merchant basis, and, therefore, adjust filtering to the exact anticipated behavior of a merchant, regardless of the nature of its business. Special monitoring functionality has been implemented based on dozens of various criteria, allowing early detection of suspicious merchant activity, which could be the result of fraud. The monitoring criteria include Monthly and Daily Processing Volumes, Average Transaction Amounts and Volume, Percentages of Card-Present vs Card-Not-Present Transactions, Transaction Processing Business Hours, as well as many others.
To address Consumer Fraud, a new rules engine was added, allowing to reject transactions based on mismatches around address or card verification code response data. As part of the implementation process, all AVS and CSC response codes were unified across all of the existing integrations.
“Our goal, in terms of functionality of our product, has always been to go beyond functionality, offered by traditional gateways. With these new developments we take fraud monitoring to a new level, and provide a new valuable tool to an already impressive arsenal of functionality that is currently available through the UniPay platform” says United Thinkers President Eugene Kipnis.
The particular appeal of The UniPay Platform is the open-source nature, affordable cost, and richness of offered feature set, as well as the advanced API’s and wide variety of Code Samples for easy integrations.
The two main components of UniPay are UniCharge and UniBill Modules ( UniPayGateway.com ):
The UniPay UniCharge Module is an advanced Processing and Remittance Engine supporting advanced functionality needed for transaction processing through a wide network of Processors and Gateway Partners.
The UniPay UniBill Module supports sophisticated Recurring Revenue Management capabilities, including Recurring Billing Support for any Payment Plan, Decline Recycle, Retry, and Recovery, Automated Credit Card Update Services, Automated Reserve Management, as well as Integrated Collections Management.
If you would like more details please contact sales@UnitedThinkers.com
About United Thinkers
United Thinkers is an enterprise software development company that specializes in payment gateway technology development. The UniPay Gateway, the company’s flagship product, is an enterprise-scale cluster-ready commercial open-source payment processing solution, utilized by the industry’s leading third-party payment processors and payment service providers. For more information about payment processing vision of UniPay, please visit our blog at Paylosophy.com