IATA modernising IATA Settlement Systems with NewGen ISS

IATA director general and CEO Alexandre de Juniac stated (05-May-2017) IATA is modernising the IATA Settlement Systems (ISS) and the the Billing and Settlement Plan (BSP). Mr de Juniac described the NewGen ISS, which he says represents a significant revisualising of the ISS, which was launched in 1971. While noting the ISS served the industry well over the past 46 years, Mr de Juniac noted that the "rules for the ISS were established in an era of paper ticket stock, brick-and-mortar travel agencies, limited payment methods and a highly regulated airline industry". IATA is continuing to work in partnership with forums such as the Passenger Agency Program Global Joint Council and Agency Program Joint Councils to arrive at solutions to begin rolling out in 2018. IATA stated:

• For airlines, NewGen ISS means faster settlement, safer funds and a lower cost of distribution;
• For travel agents, NewGen ISS offers more products and services with greater flexibility. It includes IATA EasyPay, a secure and efficient pay-as-you-go solution that is expected to be popular in parts of the world where cash dominates ticket sales. [more - original PR]