New Generation of IATA Settlement Systems (NewGen ISS) program was launched by IATA to deliver faster, safer and more cost effective and relevant financial settlement services and solutions to airlines and travel agents that rely on the IATA Settlement Systems (ISS). It will do so by putting our customers at the heart of our operation.
For Airlines, NewGen ISS means faster settlement, safer funds and a lower cost of distribution. For Travel agents, NewGen ISS will offer more personalized products and services, enhanced customer support and more-cost effective solutions
As of December, NewGen ISS and IATA Easy Pay have been implemented in 22 BSPs in AME region. With the recent implementation of Saudi Arabia, Oman, Bahrain, Botswana, and South Africa over 90.3% of global BSP Cash Sales are covered by the NewGen ISS risk management framework and Remittance Holding Capacity. Additional markets will be implemented before end of year, taking the BSP Cash sales coverage to approximately 93%.
To ensure Airlines and Agents fully understand the new changes and are technically capable of accepting and processing the new form of payment IATA Easy Pay, AME regional office along with the local office delivered 27 NewGen ISS educational workshops in 16 markets.