Mumbai: The International Air Transport Association (IATA) has rolled out a new payment model for travel agents which aims to ease cash flows for airlines.
Currently, travel agents in India receive seven-day credit to pay airlines for ticket bookings under the IATA's billing and settlement plan. Agents are required to furnish a bank guarantee to avail credit.
Under the EasyPay scheme announced today, agents will be able to make payments using a debit card. IATA has tied up with Yes Bank to implement the scheme.
The EasyPay is a component of the new generation settlement system (NewGen ISS) launched by IATA which represents over 250 airlines around the world.
17/09/18 Aneesh Phadnis/Business Standard
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Currently, travel agents in India receive seven-day credit to pay airlines for ticket bookings under the IATA's billing and settlement plan. Agents are required to furnish a bank guarantee to avail credit.
Under the EasyPay scheme announced today, agents will be able to make payments using a debit card. IATA has tied up with Yes Bank to implement the scheme.
The EasyPay is a component of the new generation settlement system (NewGen ISS) launched by IATA which represents over 250 airlines around the world.
17/09/18 Aneesh Phadnis/Business Standard
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