IATA: NewGen ISS Goes Live in Norway
Four pillars; it will be implemented in other Countries
The International Air Transport Association (IATA) announced that Norway became the first market to implement the New Generation of IATA Settlement Systems (NewGen ISS).
NewGen ISS was adopted by the Passenger Agency Conference (PAConf) in November 2017. It represents the most extensive and ambitious modernization of the IATA Billing and Settlement Plan (BSP) since it was created in 1971 to facilitate the global distribution and settlement of passenger funds between travel agents and airlines. In 2017, the BSP processed $236.3 billion in airline funds with virtually 100% on-time settlement.
NewGen ISS consists of four pillars: IATA EasyPay; Remittance Holding Capacity (RHC); Three levels of travel agent accreditation (GoGlobal Accreditation, GoStandard Accreditation, GoLite Accreditation) and Global Default Insurance.
Norway will also be the first market to roll out another vital innovation when the Transparency in Payments (TIP) initiative is launched there in April. TIP is an industry initiative focused on providing airlines with increased transparency and control in the collection of their sales through the travel agency channel. At the same time, it will enable travel agents to take advantage of new forms of payment for the remittance of customer funds. No form of remittance is barred by TIP, but travel agents can only use those forms to which an airline has previously given consent. Importantly, if an airline consents, TIP allows travel agents to use their own credit cards - previously not supported in the BSP.
Over the coming weeks, NewGen ISS will be implemented in Finland (16 March), Sweden and Canada (26 March), Denmark (1 April), Bermuda (9 April), Iceland and Singapore (16 April), with rollout expected to be completed in all BSP markets by Q1 2020.
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