ABTA announces new scheme to streamline industry payments
ABTA is launching a new replacement for the Single Payment Scheme (SPS) in late summer 2021 to ABTA members.
It is being developed by technology company Travel Ledger.
The scheme is ABTA’s direct debit system for allowing fast online payments between travel agents and tour operators.
Transactions are consolidated by the payment scheme, so that each week only a single payment is made in or out of each Member’s bank account.
Under the new scheme ABTA Members have control over their payments, not only who they transact with, but also by facilitating deposit and balance payments from travel agents to tour operators, and refunds from operators to agents.
In time, ABTA members who join the scheme will have the opportunity to process payments more frequently with the potential for more than the one cycle per week that the current scheme allows.
After evaluating various systems, ABTA chose to partner with Travel Ledger because of its understanding of the travel industry.
The new system has been tested by ABTA member focus groups over the last few months, allowing members to review and refine the scheme.
It will use the same process as on the older platform, for a seamless, uninterrupted transition
Travel Ledger is an electronic invoice and remittance system which is connected to UK and European banking for easy and secure payments between travel buyers and suppliers.
Once live, Travel Ledger will provide user and technical support to ABTA mmembers, who will be able to review their own data, as well as identify potential problems with transactions in advance, before payments are authorised or transactions fail.
John de Vial, Special Adviser at ABTA, said: “The new scheme will use the latest technology to allow fast, accurate and secure consolidated payments and refunds.”
In 2019 ABTA members settled more than 600,000 bookings worth more than £900 million.
Learn more about : ABTA ( United Kingdom )
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