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Universal
Commerce Engine |
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The
Universal Commerce Engine (UCE) is an internet-based commerce-engine
for B2B and B2C payments primarily meant for use with internet banking
accounts .
UCE is designed to meet the needs of consumers and sellers alike,
to provide an alternative to the existing credit card payment. It
processes and routes payment between the three parties involved in
a payment transaction i.e. the buyer, you (the seller) and the buyer’s
bank. The authentication and authorization takes place within the
buyer’s bank domain and can utilize existing mechanisms.
The UCE architecture comprises of 2 components:
 UCE
Seller plugin
This component provides the interface to the UCE Core System and
is installed and integrated within your website/portal. The seller
plugin ensures that the payment transactions conform to UCE requirements
with respect to transaction format and encryption.
UCE
Core System
The UCE Core System is the interface between the three parties involved
in the transaction i.e. buyer, you (as the seller) and the buyer’s
bank.
Other mission critical modules part of UCE is the administrative
module to maintain critical tables, settlement module for settlement
processing, multi-currency support for transaction and settlement,
cancellation and refund modules.
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| How
can UCE benefit you. |
| Advantages
of UCE. |
| UCE
FAQ. |
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| How
can UCE benefit you. |
It
reduces your exposure to fraud.
No more authentication issues. The buyers credit your account
through their bank. This reduces the occurrences of repudiation
and chargebacks.
It reduces your liability for customers' information.
With UCE, sensitive information such as card or account numbers
is not transmitted in the payment transactions. Hence there
is no need for you to neither handle nor store this sensitive
information and are less susceptible in the event your website/portal
is hacked.
It provides a secure environment for your transactions.
All transactions are encrypted and communications between your
website/portal and UCE utilizes Secure Sockets Layers (SSL)
communication. For direct communications, UCE utilizes digital
certificates that have been issued to your organization/corporation.
It improves the profit margin.
You save on credit card fees and may dispense with payment gateway
charges. It is also installed at low cost.
It widens your reach and simplifies your operations.
UCE links you seamlessly with customers and banks everywhere.
You access a whole world of business through a single channel,
using your existing relationships with banks.
It gives you low-cost entry into a potentially high
revenue market.
Installation is quick, economical and hassle-free. You can be
UCE-enabled in 2 hours.
Non credit card holders can also engage in e commerce
transaction.
UCE is truly a universal payment solution. UCE caters to individuals,
SME’s and SOHO’s. Infact, by anyone who wants to
make online payments. |
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| Advantages
of UCE. |
For
the Buyer:
Convenient
payment at any time and from any location
Cost savings
by reducing cheque payments
Prompt
confirmation and notification of payment status
Able to
make transaction from wider range of seller-base from the
participating banks.
For
the Seller:
Direct
credit of sale proceeds into the Seller’s account
Payment
guarantee by Buyer’s bank thus eliminating cheque returns
or
chargeback in credit cards
Prompt confirmation
and notification of payment status
Able to
reach as much as buyer-base from the participating banks
For Corporate Users:
Operational
Efficiencies:
- Enhanced automation of business processes and
straight-through
processing
- Minimizes manual processes in payment reconciliation
Better management
of working capital through:
- Improved timing and knowledge of cash flows
- Access to innovative e-financing tools
Security
and reliability, regardless of banking relationships and geographic
boundaries
For Financial Institutions:
Offer
distinctive B2B e-Payment products that:
- Meet customers’ e-Commerce needs
- Are globally interoperable and enforceable
- Strengthen customer relationships
- Create new product opportunities
Internet-enable
cash management products:
- Restructure margins based on customer automation/straight-through
processing
- Reduce back-office costs
- Reduce financing costs through improved knowledge
of customer
transactions
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| UCE
FAQ. |
Is
UCE communications protected from undetectable alterations by
third parties in transmission over the Internet?
Yes, the UCE uses Https and internally the data, which flows
through the Internet is encrypted and hashed, providing additional
security apart from Https.
In the event a customer wishes to cancel his purchase
after initially making one, how does the UCE refund back the
charged amount?
UCE does not handle any refunds. It is the seller’s
responsibility and integrity to make sure that customers are
aware of the purchase. If there is any cancellation required,
refunds can only be made at the Seller’s bank by the Seller.
Do customers need to sign up with the UCE to be able
to utilize its services?
No. Customers need to browse/login to Seller’s website
that links to UCE (Cazh/FPX), in which these Sellers are UCE (Cazh/FPX) participating
sellers.
Is the UCE capable resolving a dispute, should one arise,
if a sender claims that he did not make the online
purchase in question?
The UCE process is non-repudiation, as it is a buyer authenticated
payment process.
The buyer
cannot deny the transaction as the plug-in encrypts the data
and sends it to the UCE using the merchant PKI (Public Key Infrastructure).
The
UCE validates the data and encryption, and sends it to the Bank.
The buyer
is then authenticated by the bank, without the bank's authentication,
the transaction will fail.
The
bank approves the transaction and UCE receives the validated
transaction.
What functions contribute to the UCE’s stability and reliability?
At any given point, the UCE knows the status of each and every
transaction, which is processed by the system and brings it
to a logical end.
How can banks be certain that their customers’
account details are not accessible to online eavesdroppers?
The UCE redirects the customer to their banks for authentication,
and there, they enter their details. Thus, the UCE will never see
or transmit any customer's personal
details.
For more enquiries, send us an e-mail to inquiries@camtech.com.my
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Payment
Solutions |
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Suite
D-09-01, 9th Floor Block D, Plaza Mont Kiara. 2 Jalan Kiara, Mont Kiara.
50480, Kuala Lumpur. Tel: +603 6201 8909 |
