With PostgreSQL 9.5, this is now native functionality (like MySQL has had for several years):
INSERT ... ON CONFLICT DO NOTHING/UPDATE ("UPSERT")
9.5 brings support for "UPSERT" operations.
INSERT is extended to accept an ON CONFLICT DO UPDATE/IGNORE clause. This clause specifies an alternative action to take in the event of a would-be duplicate violation.
...
Further example of new syntax:
INSERT INTO user_logins (username, logins)
VALUES ('Naomi',1),('James',1)
ON CONFLICT (username)
DO UPDATE SET logins = user_logins.logins + EXCLUDED.logins;
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