United Thinkers completes a new Payment Orchestration Engine, allowing payment facilitators to smoothly handle split payments and other advanced payment distribution scenarios.
New York, NY – (November 30, 2017): United Thinkers, a New-York based commercial open-source Payment Management Software provider, introduces a new advanced sub-merchant funding technology for payment facilitators. The technology incorporates sophisticated split payment logic, targeted at marketplace platforms, and custom third-party fee deduction logic, particularly useful for franchising fees collection.
The new logic allows United Thinkers and their customers to solve two common problems, faced by payment facilitators and online marketplaces.
Many modern payment platforms, that, following the examples of such companies as Airbnb and Uber, use online marketplace as their operations model, need logic, allowing them to split their proceeds between multiple parties. The new logic, released by United Thinkers, includes highly advanced payment orchestration mechanism, allowing a payment platform to split transactions among different affiliates as well as easily reverse affiliate payments in case of subsequent chargebacks and returns. The new logic can be implemented to handle purchases of both individual products and grropus of products, where each product requires specific split rules. As of now, other similar platforms lack group purchase functionality.
Another problem, witnessed at the market, is especially relevant for franchising companies. Present-day franchisors, usually, have to go through a challenge when trying to collect the fees from their franchisees, as there is always a chance that funds are not available on the bank accounts. As more and more franchise companies adopt payment facilitation model, they get the opportunity to deduct franchising fees directly from the proceeds of the franchisees. UniPay payment management platform allows to solve this problem in a simple and elegant way, where a franchisor can (on monthly bases) define deductions that are automatically withheld from sub-merchant funding.
By introducing the new payment orchestration technology, United Thinkers follows the general trend of the payment facilitation services market. The newly introduced features make UniPay Gateway platform even more appealing to payment service providers and payment facilitators worldwide.
“As of now, UniPay is one of the most wanted platforms for payment facilitators, especially, among new companies that attempt to define their own payment facilitation process. So, it is our task to provide a cutting edge technology to our PayFac clients.” says United Thinkers president, Eugene Kipnis. “We have been receiving many inquiries lately from payment facilitators, trying to optimize their residual commission payments. We feel that with addition of new logic, we provide payment facilitators with one of the most sophisticated sub-merchant funding tools available.”
The appeal of the UniPay Platform is the open-source nature, affordable cost, robust omnichannel 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 (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 [email protected]
About United Thinkers
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 Paylosophy.com.