AML and Fraud Policy

Prohibited industries and countries

Prohibited industries / activities should include but are not limited to:

  • Pharmaceutical industries selling controlled drugs and substances; unlicensed pharma.
  • Tech industries (service-related and subscriptions)
  • Blacklisted URL by Visa / MasterCard – includes TMF and MATCH (applicable in credit card solution).
  • Included in the UBank Connect internal block list and negative database.
  • Anything illegal, suspected ponzi, pornography, dating and adult sites, gambling including online casino and lottery
  • Any product or service that infringes upon the copyright, trademark, or trade secrets of any third party
  • Any product, service or activity that is deceptive, unfair, predatory, or prohibited by one or more Card Networks
  • Invalid license or no license submitted for regulated companies
  • Any activities which could lead to abuse of human rights or be utilised for torture, genocide, etc. such as arms, weapons or munitions, security and riot control equipment such as stun guns, electronic restraining devices, other similar materials and devices
  • Hazardous biological, chemical or nuclear materials including equipment or machinery to manufacture, handle, dispose and dump of such materials
  • Any activities that may damage the reputation of UBank Connect

UBank Connect List of Prohibited Countries:

  • Iran
  • Democratic People’s Republic of Korea (DPRK)
  • Algeria
  • Ecuador
  • Myanmar
  • Afghanistan
  • Bosnia and Herzegovina
  • Guyana
  • Iraq
  • Lao People’s Democratic Republic
  • Papua New Guinea
  • Syria
  • Uganda
  • Vanuatu
  • Yemen

Note: The list above is based on restricted, non-cooperative countries and sanctioned countries by the Financial Action Task Force (FATF) and being updated quarterly.

UBank Connect AML Policy

1. General Policies

  • The appointment of Corporate Compliance Officers for UBank Connect and its subsidiaries and affiliates (hereafter, the “UBank Connect”) to supervise the anti-money laundering regulations and internal policies, which shall be fulfilled by the heads of the Risk Department, Finance Department, and Legal Department of the UBank Connect, is hereby established as a policy.
  • The Senior Management, Risk Department, Finance Department, and Legal Department of the UBank Connect shall be responsible for making sure that these regulations are fulfilled.
  • The current Anti-Money Laundering Law in each country where UBank Connect carries out its activities shall be strictly fulfilled.
  • Mandatorily, the Risk Department and Finance Department of the UBank Connect shall prepare a quarterly report about the carried-out activities of the prevention system, that will be presented to the Legal Department that will prepare the quarterly reports to be presented to the UBank Connect Senior Management.
  • With the purpose of exchanging experiences and defining improvements policies to the Anti-Money Laundering and Terrorist Financing System, the Corporate Compliance Officers of the UBank Connect shall procure to meet once a year and maintain constant communication. Regardless of the foregoing, the Legal Department must hold meetings with the Risk Department and the Finance Department of the UBank Connect.
  • In order to avoid disclosure of information to jeopardize the proper functioning of the Anti-Money Laundering and Terrorist Financing System, the Corporate Compliance Officers shall not publish or disseminate the criteria and parameters established for alerting the systems monitoring (selecting automatic alerts and scheduled samples). These parameters are contained in the internal procedures for staff use only designated by the Compliance Officers for this work.

2. Anti-Money Laundering General Policy – UBank Connect

  • Basis of the need for a general policy
    • It is acknowledged that every day more financial and non-financial companies processing payments via credit and debit card transactions worldwide are increasingly being used for money laundering and terrorist financing. In this regard, aware of the unfortunate consequences of these illegal acts, the international community has been adopting severe penalties for money laundering and terrorist financing.
    • The main objective of this policy is to achieve that all the areas of business operations of UBank Connect assume the commitment to comply adequately with the directives and regulations regarding money laundering and terrorist financing prevention systems.
  • Scope of the policy
    This policy shall involve all the entities of the UBank Connect that are established or may be established in different countries.
  • Policies
    • The trade activities of the UBank Connect should be protected to prevent them from being used in money laundering and terrorist financing.
    • All the areas of the UBank Connect must adopt the policy of “Know Your Business”, “Know Your Client”, “Know your Market”, “Know Your Employee”, and “Know Your Bank”, whichever is applicable.
    • Corporate Compliance Officers must verify that the appropriate actions are adopted for each transaction qualified as suspicious and the reports are submitted to the respective Governmental Authorities within the required terms.
    • Corporate Compliance Officers shall ensure the strict application of the laws against money laundering and terrorist financing.
  • Definition of Money Laundering
    In general terms, it is the process of hiding or disguising the origin, receipt, existence, movement, destination, use, and acquisition of capital or movable or immovable property, as a result of illegal activity, to make them appear legitimate.
    • Stages defining the activity:
      • Collection of money: Physical reception of the money in cash, coming from illicit activities.
      • Placement: Introduction to financial or non-financial institutions of cash coming from criminal activities.
      • Mix with funds of legal money origin: Making successive financial transactions with illegal money by mixing it with legal money, to eliminate or hinder monitoring of its track.
      • Investment: Conversion of illicit money into various kinds of assets: movable and immovable properties, securities, and other financial assets or business façade, through the transfer of the laundered funds to legal organizations without apparent links with the organized crime. The business of UBank Connect shall be protected from being used to legalize funds resulting from illegal activities.
  • Definition of Terrorist Financing
    Terrorist financing is a crime that is committed in any way, directly or indirectly, illegally and by choice by providing and collecting funds with the purpose of being used or knowing that they will be used, wholly or partly, to cause death or serious injuries to civilians or any other person who is not participating actively in hostilities in a war situation, with the purpose of intimidating a population or compel a good government or an international organization to perform an act or abstain from doing an act.
  • Importance of these policies for the UBank Connect of Companies
    UBank Connect shall procure that all the employees of its member entities have a high level of integrity and apply the regulations established in the Money Laundering and Terrorist Financing Prevention System of each of their home countries in exercising their duties. The Officers of UBank Connect shall not give advice or provide assistance to individuals who attempt to violate or avoid fulfilling the laws against money laundering and terrorist financing, or any related policies.

    The laws against money laundering and terrorist financing apply not only to individuals who attempt to legitimize funds resulting from illegal activities but also to the business operations of UBank Connect and its employees who participate in such transactions. The employees of UBank Connect that suspect certain operations and deliberately avoid inquiring further on the matter with the intention to keep out may be considered accomplices due to voluntary blindness within the scope of the criminal law against money laundering. The employees of UBank Connect that identify suspicious operations related to money laundering should report them to the Corporate Compliance Officers.

    Failure to comply with this policy may cause severe disciplinary actions against the employees of UBank Connect including the removal thereof. Any violation of the laws against money laundering and terrorist financing may also result in the imprisonment of the infringer, as well as the imposition of significant fines to the company and even the cancellation of the operating license.
  • Standards
    This policy establishes the minimum standards that should be applied to the commercial activities of UBank Connect regardless of the law of each home country, which they are obliged to fulfill.
    • Manual for the Prevention of Money Laundering and the Financing of Terrorism

      Each member of the UBank Connect must have a Manual for the Prevention of money laundering and terrorist financing, either individually or as a part of a common manual, which should be updated whenever changes in the legislation or internal rules are produced.

    • Determination of risk profiles by activity
      The following factors shall be taken into account to assign the risk profiles:

      • The different categories of customers (i.e. type of business)
      • The nature of the products and services provided.
      • The expected use by the Customer of the products and services rendered.
      • The location of the customers’ businesses
      • The transaction amount.
    • Know your business/customer/client
      UBank Connect shall have internal policies and procedures regarding “Know your business/customer/client” to:
      • Verify and document the true identity of the clients/customers that establish a relationship, open accounts, or conduct significant transactions.
      • Obtain and document any additional information on the client/customer based on the risk per activity.
      • Ensure that no business transactions are carried out with companies or persons whose identities cannot be confirmed, failing to provide the required information or that provide false information, or containing significant inconsistencies that cannot be satisfied after a further investigation.
    • Customer identification
      • In the case of natural persons, the respective official identification document or any other reliable document should be requested to verify the identity thereto.
      • In the case of legal persons, the company’s incorporation document and any information related to its main activity, address, and chief executives, among others, must be obtained.
      • No account under a special name shall be opened (i.e. account using a pseudonym or number instead of the real name of the customer, unless otherwise allowed by the law of the home country of the institution.
      • Reasonable actions shall be taken to obtain information on the true identity of the person in whose name the relation is established or an account is opened or an operation is carried out.
      • UBank Connect will not accept the following clients:
        • Persons of questionable honesty, especially if they are related to drug traffic, money laundering, terrorism, identity theft, or any organized crime.
        • Persons with businesses where it is difficult to ascertain the real source of their money.
        • Accounts with false names, anonymous or pseudonyms instead of the real name of the client.
        • Gamble games, bets, and related. Exceptions will have to be approved by the Corporate Compliance Officers.
        • Foreign exchange office or related, if Corporate Compliance Officers are not sure of the real nature of the money.
        • Identified as restricted, non-cooperative, and sanctioned countries by Financial Action Task Force (FATF).
        • Accounts with fraudulent websites and whose names are included in the internal blacklist database.
    • Customer additional information
      • UBank Connect shall have policies and procedures specifying the requirement of additional information to high-risk clients/customers upon establishing a relationship or opening an account, such as:
        • Establish the source of the client/customer’s funds.
        • Establish the source of the client/customer’s income and assets.
        • Establish the nature and extension of the expected use by the client/customer of the products and services (i.e. a transactional profile).
        • Verify the information provided by the client/customer.
      • Any information received from the client/customer upon establishing the relation or opening the account shall constitute the “client/customer’s profile,” which should be updated.
    • Corporate Compliance Officers
      UBank Connect shall have Corporate Compliance Officers constituted by the heads of the Risk Department, Finance Department, and Legal Department. They shall be responsible for monitoring the fulfillment of the Money Laundering and Terrorist Financing Prevention system.
    • Maintenance of required records and reports
      All entities of the UBank Connect shall establish policies and procedures to ensure the fulfillment of the law and internal policies referring to the maintenance of the required records and reports.
    • Record of transaction
      • UBank Connect shall establish policies and procedures to keep records of and report, if relevant, any cash transactions, as required by the applicable laws in each country and according to this Policy, developing and implementing control actions.
      • UBank Connect shall develop and implement suitable control actions to detect cash transactions and electronic money (non-cash) transactions, which may be subject to a report, such as structured transactions.
    • Transfer of funds
      UBank Connect shall establish policies and procedures to ensure fulfillment of the internal rules and regulations applicable to the transfer of funds, taking into consideration that such transactions are considered high risk.
    • Record and documentation maintenance
      • UBank Connect shall keep the documentation and record of the transactions carried out by their customers for the term established by the law of each entity’s home country. In addition, UBank Connect shall keep all the customers’ profiles.
      • Reports submitted to governmental authorities in relation to suspicious transactions of Customers for possible money laundering and terrorist financing.
      • Report on the training provided for the staff.
      • Any other document required by law. All the retained information must be kept in strict confidence and may not be disclosed to third persons.
  • Control of Suspicious Transactions
    All the employees of UBank Connect are obliged to promptly report to their Corporate Compliance Officers any unusual or suspicious transaction, for the corresponding evaluation and subsequent reporting by the latter to the competent authorities, if appropriate.
  • Report of suspicious transactions for possible money laundering
    Once a transaction has been detected and qualified as suspicious by the Corporate Compliance Officers, it should be reported to the authorities by law. At this stage, the interruption of the commercial relationship with the customer should be evaluated.
  • Training Programs
    • UBank Connect shall give priority attention to the periodic training programs for their employees on the Money Laundering and Financing of Terrorism Prevention System.
    • The training programs must consider the money laundering prevention law from each country and the current trends on the subject, as well as the established anti-money laundering internal policies and procedures.
    • The Corporate Compliance Officers should keep a record of all the training courses carried out, including the date, names of each of the participants, hierarchical level, and agency to which they belong.

Client Money Policy

1. Purpose

  • This policy applies to UBank Connect, as well as to its branches, subsidiaries, and affiliates (collectively referred to as “UBank Connect” or “UBank Connect”). UBank Connect must receive or hold clients’ money only in accordance with this policy.
  • Where any member of the UBank Connect is authorized by particular rules or regulations in such jurisdiction, any monies received or held which are business clients’ money must be dealt with in accordance with such rules and regulations, which takes precedence over the requirements of this policy.
  • This policy primarily describes the duties of UBank Connect and the UBank Connect Group.

2. Policy Statement
UBank Connect requires all the members of UBank Connect holding any Clients’ Money on behalf of a client to comply with this policy in its entirety.

3. Definition of Terms

  • Banks shall generally refer to financial institutions that accept deposits from the public and create credit.
  • Client Bank Account shall refer to an account at a bank in the name of the client designated by the name of a specific client or by a number or letters allocated to that account which, in all cases, includes the word client in its title.
  • Clients’ money means money of any currency (whether in the form of cash, checks, draft, or electronic transfer) that UBank Connect holds or receives for or from a client. This includes money held by a member as a stakeholder, which is not immediately due and payable on demand to UBank Connect for its own account. Clients’ money must be held in the currency in which it was received unless the client instructs otherwise in writing.

    UBank Connect sometimes has power or control over a client’s own account. Even though this does not strictly meet the definition of Clients’ money, UBank ensures that it has the specific written authority of the client acknowledged by the Connect must bank before exercising the authority, and it must maintain adequate records of the transactions it undertakes.

    For the purpose of this policy, clients’ money does not include:

    • Fees identifiable as an advance payment for agreed professional work; and
    • A check or draft received by UBank Connect, which is drawn in favor of a client or third party.
  • Mixed Monies means monies received (whether in the form of cash, check, draft, or electronic transfer) or held by UBank Connect which comprise or include Clients’ money and money due to UBank Connect.

4. Client Identification

Before holding any Clients’ money on behalf of a client, UBank Connect must first verify the identity of the client.

Guidance
Converting or concealing criminal property or terrorist funds, for example by allowing them to be passed through a client’s money account, is a criminal offense. However, no offence is committed if a prompt report is made, when this is suspected, to the law enforcement authorities and their permission obtained to continue the transaction. More guidance on the recognition of when this might be the case, and advice on reporting money laundering suspicions, is contained in UBank Connect’s Anti-Money Laundering and Counter-terrorist Financing Policies.

Where Clients’ money is held for the first time after the implementation date of this policy, on behalf of someone who was already a client at that date, UBank Connect should consider carefully if it has sufficient evidence of the client’s identity from previous dealings.

Under UBank Connect’s Anti-Money Laundering and Counter-terrorist Financing Policies and the UBank Connect’s respective manuals implementing the same in particular jurisdictions, UBank Connect must verify the identity of all new clients. This would meet the identification requirements outlined above.

5. Opening a Settlement Bank Account

All money, including clients’ money, received in relation to the transaction must be held in UBank Connect’s settlement bank account. Where UBank Connect receives or holds clients’ money or mixed monies or monies which it is required to pay into a client account, it must take note of the clients’ bank accounts. UBank Connect must take note that a client may maintain one or more client bank accounts as appropriate and should, therefore, consider the necessary bank details.

On opening a settlement bank account, UBank Connect must notify the bank that:

  • All money standing to the credit of that account is held by UBank Connect as clients’ money and the bank is not entitled to combine the account with any other account or exercise any right to set off or counterclaim against money in that account in respect of any money owed to it on any other of UBank Connect’s accounts;
  • Interest payable on the money in that account, if any, must be credited to that account;
  • The bank must describe the account in its records to make it clear that the money in the account does not belong to UBank Connect; and
  • The bank must acknowledge in writing that it accepts these terms.

For a settlement account located in any jurisdiction, if the bank does not allow the settlement to be made within twenty (20) days from notice thereof, UBank Connect must:

  • Withdraw all money from the account;
  • Close the account;
  • Deposit the money with another bank; or
  • As a last resort, return the money to the client.

UBank Connect may hold money in a bank outside its territory provided that:

  • The client is informed in writing of the country or territory where the account will be held.
  • The client is informed in writing either that the bank has given the acknowledgment required or, where the bank’s acknowledgment has not been received, UBank Connect has advised the client that the Clients’ money held in that account shall be protected as effectively as it would if held in its territory.
  • The client has agreed in writing to the money being paid into or remaining in, that bank.

6. Payment into a client bank account

Clients’ money or mixed monies received by UBank Connect must be paid immediately into a client bank account or to the client, if necessary.

UBank Connect must pay money into a client’s bank account, different from that previously declared in
an appropriate contract, only if:

  • UBank Connect is required to make such payment under this policy;
  • The client has changed its previously declared bank account (caused by the closing of the previously declared bank account or for other inevitable circumstances) and has required UBank Connect of such payment;
  • The money is the clients’ money net of the payments due to UBank Connect; or
  • It is so paid in order to restore in whole or in part any money paid out of the account in contravention of this policy.

UBank Connect shall not be regarded as having breached this policy simply because it transpires that money it paid into a client bank account in the reasonable belief that it was required so to do under this policy, as well as under an agreement with the client, should not have been paid into such an account, provided, that immediately upon discovering the error, UBank Connect takes the necessary steps to withdraw the money that has been paid in error.

Where money of any one client in excess of USD 10,000 is held or is expected to be held by UBank Connect for more than thirty (30) days the money must be paid into a client bank account designated by the name of the client or by a number or letters allocated to that account. (Note: The client bank account in this paragraph must be in a separate bank account, rather than a memorandum account in UBank Connect’s book. In other words, the account will be for that client, or clients acting jointly, only).

7. Withdrawal from client’s bank account

UBank Connect may withdraw from a client bank account:

  • Money, not being a client’s money paid into a client’s bank account for the purpose of opening or maintaining the account, if necessary;
  • The part of mixed monies which are not clients’ money;
  • Money paid into a client’s bank account contrary to this policy;
  • Money that may be required to be withdrawn with the client’s consent;
  • Interest that the client has agreed in writing should not be paid to them;
  • Money required for a personal payment to a client;
  • Money properly required for or towards payment of a debt due to UBank Connect from a client otherwise than in respect of fees earned by UBank Connect;
  • Money is withdrawn for or towards payment of fees paid to UBank Connect by the client;
  • Money drawn on a client’s written authority or in conformity with any written
    contract between UBank Connect and the client; or
  • Money that may be properly transferred into another client’s bank account or into a bank account in the name of an individual client or clients acting jointly.

Guidance

This paragraph sets out the various circumstances in which money may be withdrawn from clients’ bank account. It requires such withdrawals to be permitted by an authorized officer of UBank Connect. The written delegation should specify any restrictions on its use. In deciding who can have this authority, UBank Connect must consider the trust that is being placed in the individual and their ability to carry out this function with due care and integrity. UBank Connect remains responsible for the entire UBank Connect’s compliance with the client’s money policy, regardless of any delegation they have made. UBank Connect should also review the entire UBank Connect’s compliance with related regulations, which review should include the operation of any delegated powers.

Clients’ money must be returned to the client promptly as soon as there is no longer any
reason to retain it.

Money may not be withdrawn from a client’s bank account for or towards payment of fees payable by the client to UBank Connect unless:

  • The precise amount has been agreed upon by the client or has been finally determined by a court or arbiter;
  • The fees have been accurately calculated in accordance with a formula agreed in writing by the client on the basis of which the correct amount can be determined; or
  • 30 days have elapsed since the date of delivery to the client of a statement of fees and the client has not questioned the amount specified as due.

Monies that are payable to UBank Connect must be withdrawn as soon as reasonably practicable.

This policy governs the treatment and withdrawal of fees from monies held for the clients before settlement to the clients’ bank account. It does not relate to commissions received by any person or company to whom UBank Connect transacted with.

8. Records and Reconciliations

UBank Connect must keep clients’ money records (including any notice and acknowledgments under
this policy) that show the following:

  • Details of all money paid into UBank Connect’s bank account and out to all client bank accounts;
  • Entries of all clients’ money paid directly to the client, or, on the client’s instructions,
    paid to a third party, identifying that person;
  • Entries of all checks received and endorsed over by UBank Connect to the client or, on the
    client’s instruction, endorsed over to a third party, identifying that person;
  • Entries of all electronic money transfers received or made and transferred directly to the client or, on the client’s instructions, transferred to a third party, identifying that person;
  • Details of the transactions on each client’s ledger account that will readily identify the
    balance held for each client and that will reconcile to the total of clients’ money held details of all amounts withdrawn from the client’s bank account, if any, and the names and contact details of the recipient of those monies.

UBank Connect must:

  • At least once every five (5) weeks, reconcile the total balances on all its bank accounts and the amounts due to the clients and where any difference arises, as well as correct and adjust the reconciled items accordingly.
  • Preserve and keep available for inspection, all records kept in accordance with this policy for at least six (6) years from the date on which they were made.

Returns and Reports UBank Connect must:

  • Confirm that UBank Connect meets the requirement of this policy and shall supply such evidence as this policy and/or any governing authorities may require to support such confirmation; and
  • Ensure that UBank Connect conducts a review at least annually, to consider whether its systems have been adequate to enable it:
    • To comply with this policy;
    • To conduct reconciliations of records; and
    • To prepare any return required under this policy to confirm compliance with this policy.

Where possible, the review should be conducted by a UBank Connect authorized officer who is not
involved in the handling of clients’ money.

Employees must report significant breaches of this policy to UBank Connect management.

To enable the client, as well as any proper government office, to ascertain whether or not this policy is being complied with, UBank Connect may:

  • Appoint one or more people to inspect the books and records of the entire UBank Connect; and
  • Require UBank Connect to provide an Independent Accountant’s Report.

It is the responsibility of UBank Connect and the entire UBank Connect to make books and records available for inspection in accordance with such a Notice and/or to provide an Independent Accountant’s Report in accordance with any such requirement.

9. Other Responsibilities

UBank Connect shall be responsible for any breach of this policy on the part of the entire UBank Connect unless it has been proven that the responsibility for the breach is entirely that of another party not within its control.

UBank Connect shall also be responsible for companies that are wholly or partly controlled by it, whether directly or indirectly, and which may receive or hold Clients’ money pursuant to an arrangement with UBank Connect that enables the proper distribution or processing of Clients’ money. Any member of UBank Connect must notify UBank Connect of these arrangements and should apply for a license renewal process, if required, following any change (including cancellation) in the arrangement.

10. Unidentified and untraced clients

Where UBank Connect has been unable, after taking reasonable steps over at least five (5) years, to trace a client, any unclaimed monies need no longer be treated as the client’s money. UBank Connect may then donate the monies to a registered charity, subject to the following conditions:

  • The sum of up to USD 10,000 per client may be paid to any registered charity.
  • For sums over USD 10,000 per client, the charity must provide indemnity against any claim subsequently made by the client for the money.

Where UBank Connect is ceasing to practice, payment of any unclaimed clients’ money to a registered
charity must be on the following terms:

  • That the registered charity provides an indemnity for all sums paid whatever the amount.
  • There is no requirement for the client to remain untraced for five years.

On cessation, UBank Connect must inform the proper government authority in writing of all sums paid to a registered charity in accordance with this policy. The information must include:

  • The client’s name and last known contact details;
  • The sum paid; and
  • The name and contact details of the recipient registered charity.

For the purpose of paragraph 36, ceasing to practice does not include any arrangement whereby UBank Connect succeeds in the business of another.

Any sums not paid to a registered charity in accordance with paragraphs 34 and 35 must be retained on deposit for the benefit of the unidentified or untraced client unless when the parties have made a written arrangement about what would happen should such circumstances arise.

UBank Connect Fraud Detection Policy

UBank Connect has implemented stringent Fraud Detection measures:

  • We establish an initial server-to-server secure connection with the Merchant
  •  SSL certificates, activating HTTPS protocol that allows secure connections from the web server to the browser.
  • Merchant Request Protocol Signing – each request to the UBank Connect system contains a signature (pSign). The signature is a SHA1 hash of the request parameters values concatenated and prefixed with the merchant passcode. The parameter values MUST be concatenated in their exact order.
  • API Response Protocol Signing – The UBank Connect System response signature (pSign) is the SHA1 hash involving the merchant passcode concatenated with several parameters listed in the following examples. This signature will keep the protocol very secure and block any unauthorized calls to the API.
  • The customer making the transaction is directed to a secure payment page website and makes a secure transaction through the bank’s network.
  • We perform a data-matching check of the values posted for the transaction against the values returned on the payment.

A comparison of key values in the transaction message is performed between the data sent by the Merchant and the data returned by the Bank

UBank Connect Payment & Security Additional Services API

The UBank Connect System provides an additional service in the API that is intended to assist merchants in performing security checks, card verification, customer ID verification, features that would help to eliminate fraudulent actions, third-party deposits, and other actions that would generate chargebacks or perturb their processing activity.

Credit Card Verification

This service is used to help the merchant in performing a check on the credit card account and validate the corresponding customer. This helps to reduce or eliminate third-party deposits. The method involves a transaction with a small secret random amount (1.00 – 4.00) in the customer’s card currency. After the transaction is completed and the amount is generated in the customer’s card statement (usually no longer than 24-48 hours) the customer should input the secret amount used in the verification and would validate his card account.

To implement this method:

  1. The merchant software should initiate a HTTPS POST method to the UBank Connect Reporting API URL with all the required information as url-encoded key-value pairs;
  2. The system will respond to the Merchant with the response containing all data required to execute the validation call later upon the customer’s input action with the amount;
  3.  The customer will validate the amount on the merchant’s system. At this point, the merchant should initiate a HTTPS POST method to the UBank Connect card validation URL with all the required information as url-encoded key-value pairs;
  4. The system will respond to the Merchant with the validation response – either successful or failed. The merchant should update his records and inform the customer about the validation result.

Escalation Procedure

Escalation is a critical part of Merchant Support (MS) operations. Each MS team member must fully understand what, when, why, and how to escalate issues. MS team members must make good decisions and show sound judgment depending on the severity of the issue.

Why do we need to escalate?

  • To manage and mitigate risk at an early stage
  • To reduce monetary loss
  • To meet the SLA with the Merchants
  • To resolve the issue immediately

Although escalation is an occurrence that we do not want to happen and should be our last resort, it is an inevitable part of our business process. This escalation procedure aims to help each team member how to identify an issue and take the proper course of action.

This process is applicable to all types of payment solutions that UBank Connect offers.

For more information and inquiries, please contact our AML Officer, Reymart M. at reymart@ubankconnect.com and risk@ubankconnect.com

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