IATA Settlement Systems (ISS) are the backbone of the global air transport industry. They enable the swift, reliable, and efficient movement of funds between airlines and their travel partners. In 2017, the ISS settled $433.3 billion.
In 2017, the unrecovered debt target was 0.023%, while the actual performance exceeded that target to reach 0.015%. IATA will still continue to strengthen systems with its transition to New Gen ISS.
Settlement
- IATA Clearing House (ICH): Fast debt collection - Protection against bad debt and bankruptcy
- Billing and Settlement Plan (BSP): Settlement of passenger sales from Travel Agents to Airlines
- NewGen ISS: Transforming IATA's Settlement Systems with industry solutions for Airlines and Travel Agents
- IRIS Consolidated Report: A regional view of an airline's settlements from the BSP
- IATA Financial Gateway (IFG): An omni-channel payment solution that also help airlines create the necessary files for reporting of their travel agent direct sales into the BSP Systems for processing and settlement
- Cargo Account Settlement Systems (CASS): Settlement of cargo sales from agents and freight forwarders
- The Ticket Tax Box Services (TTBS): Global reference for taxes levied on passenger air tickets
- Prorate Agency: Efficient management of interlining revenue settlement between airlines, for both passenger and cargo
- Revenue Accounting Tax Database (RATD): Passenger ticket taxes & charges - Revenue accounting to process interline billing
- Sampling: Reduces workload and interline accounting costs - Early finalization of interline settlement
- Exchange Rates: Standard industry rates for sales and interline billings
e-invoicing
- Simplified Invoicing and Settlement (SIS e-invoicing): Electronic Invoicing platform with a direct link to hundreds of airlines and industry core suppliers with optional connection to settlement services.
Payment
- IATA Currency Clearance Service (ICCS): Cash management - Centralized control of funds - Quick repatriation of funds
- IATA Treasury Dashboard: Supports airline treasuries with their liquidity planning and cashflow forecasting activities
- Currency Repatriation: Reduce costs related to the repatriation of sales funds and improve repatriation processes
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IATA Financial Gateway (IFG): An omni-channel payment solution that also help airlines create the necessary files for reporting of their travel agent direct sales into the BSP Systems for processing and settlement
Card Services
- IATA Perseuss: Card fraud prevention - Early detection - Data exchange within user community
- IATA CardClear: Card sales centralization - Multi-currency submission - All card brands and transaction types
- IATA CardStats: Consolidates airline’s worldwide BSP credit-card transactions into a single report giving quick, clear information on card sales
Other Solutions
- iiNET is presently the most comprehensive, flexible and reliable worldwide electronic data exchange and data distribution service available to the industry