Through NewGen ISS, IATA is modernizing the BSP to better meet the evolving needs of the airline industry.
The New Generation of IATA’s Settlement Systems (NewGen ISS) is modernizing distribution and payments in the Billing Settlement Plan (BSP), creating a system capable of handling the challenges of today, tomorrow and beyond. NewGen ISS brings stronger customer focus and relevance to the BSP through flexible, safer, and cost-effective solutions.
NewGen ISS delivers an enhanced risk management to better protects airline funds and mitigate the risk associated to agent defaults. The key feature of the new risk management framework is the introduction of a Remittance Holding Capacity (RHC).
NewGen ISS offers travel agents three accreditation options: GoLite, GoStandard and GoGlobal. Each accreditation model comes with different participation terms, financial requirements and payment options. This more flexible approach to accreditation provides an opportunity for airlines to widen their distribution networks by enabling them to do business with a wider array of travel agents in the BSP.
As part of NewGen ISS, IATA is introducing IATA EasyPay, a flexible, new pay-as-you-go payment method enabling airlines to transact with agents securely while benefiting from faster clearing times and a low cost per transaction.
Since March 2018, NewGen ISS has been progressively rolling out across BSPs. As of December 2019, NewGen ISS is live in approximately 100 BSPs, with all markets expected to be migrated during 2020.
NewGen ISS modernizes the BSP through four key features. Click on the links to explore.
IATA is implementing a new agent accreditation framework with three accreditation models that will enable airlines to do business with a greater number of travel agents while simultaneously mitigating risk.
These accreditation options are: GoLite, GoStandard and GoGlobal.
IATA EasyPay is a new voluntary e-wallet option for agents to pay for tickets through the BSP.
IATA EasyPay reduces financial risk for airlines as funds are secured at the time of ticket issuing and there is no risk of chargebacks.
IATA EasyPay comes with a low cost per transaction. Funds are also settled to airlines via the BSP within 48-96 hours, which accelerates airlines’ cashflow.
NewGen ISS is introducing a Remittance Holding Capacity (RHC) – a monetary threshold for outstanding Cash sales pending remittance to the BSP – which will apply to all agents with access to BSP Cash as a form of payment. The RHC reduces airlines’ exposure to agent defaults and promotes safer selling. In cases where agents reach their RHC, agents will be able to continue transacting with airlines through the BSP using IATA EasyPay or customer cards.
Global Default Insurance (GDI) is a new, optional type of financial security for agents. In the event of an agent default, GDI provides airlines with reliable coverage and certainty of claims.