IATA CardAXS is a full member of both Visa Inc and MasterCard Worldwide. All processing is conducted in strict compliance with the regulations of the two international card schemes.
IATA CardAXS captures transmissions of
- All BSP card sales from the IATA CardClear service, including any manual sales captured by IATA CardClear
- Airlines direct and e-commerce sales
IATA CardAXS fully supports 3-D Secure.
The multi-currency service enables airlines to accept card payments in a wide range of currencies and to choose their settlement currencies and bank accounts. It also improves airlines' cash flow, reduces currency exposure and eliminates the need for signing separate merchant agreements in each country.
Settlement & reporting
IATA CardAXS is able to process in all Visa and MasterCard supported currencies and settle in all major currencies.
The IATA CardAXS Management Information Systems (MIS) reports are delivered electronically and allow reconciliation of settlement value with payments received for all card sales (by country and currency).
Central acquiring through IATA CardAXS
It transforms a complex, country-by-country settlement structure into a streamlined global process and enables airlines to achieve superior cost efficiency, such as:
- Reduced merchant fees
- Reduced foreign exchange exposure
- Simplified international expansion
- Standardized and automated card acceptance procedures
- Improved customer service
- Reduced local administrative costs
IATA CardAXS is a service provided by Bambora, former Euroline as of May 2015, the credit card acquiring unit of Nordic Capital, a leading financial group based in Sweden with subsidiaries internationally.