United Kingdom
United States
Asia Pacific
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 )
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
EU airports bring back 100ml liquid rule
British Airways passengers endure 11-hour 'flight to nowhere'
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Co-pilot faints, easyJet flight issues ‘red alert’
Dozens fall ill in P&O Cruises ship outbreak