What We Do
Modo takes care of managing the data you need to exchange with your partners. We provide the security. We build and manage the connections to your providers and counterparties. We maintain the integrations as they change. We provide the settlement and reconciliation services. We automate exceptions, disputes, and error handling, so you don’t have to. And we abide by your data management policies, to keep things fair.
What are payment events?
Payment events include everything that surrounds a payment before, during, or after a transaction.
What is payment event data?
We separate payment event data into four categories:
- Transaction states
- Accounting entries
- Credentials & Identification
- Associated commercial documents
How is payment event data special?
- Security and compliance requirements
- Use within financial systems as the basis for accounting
- Role within critical business processes
- Responsibility to define the state of the relationship
- Ownership by multiple parties
What is an exchange of payment event data?
The process of storing and sharing all of the payment event data, so that all participants and their providers can use the data to improve the payment experience.
A simple way to keep all of the data about a payment
Provide the data to anyone in the form that they can use it
Why do you need a payment event data conductor?
Creating better payment experiences hinges on interoperability between different systems. You need them to do more, and that requires the exchange of more data. Payment innovation depends on getting systems to work together that haven’t before. You need to have data moving in new and different ways. A conductor facilitates the exchange of data so you can get back to innovating and interoperating.
Why secure and fair?
These are the most important attributes of an exchange of payment event data. Security, because this data is special. Self-evident, really. Fair, because the growing importance of data means that all of the participants and providers should have a say in what happens with the data…
- Secure control over the access and use of your payment event data, even when exchanging it with partners
- Single point of integration for payment event data exchange which accelerates time to market, scalability, and partner flexibility
- Insulation from change in partner requirements as Modo handles it all
- Increased partner choice as Modo integrates with more end points and becomes the broadest “utility conductor” for the exchange of payment event data