NewGen ISS is introducing IATA EasyPay, a new “pay as you go” e-wallet solution for agents to issue tickets via the BSP. IATA EasyPay is a closed-loop and proprietary payment system with the following characteristics:
- Voluntary – This new payment method will become available to all agents, but it will be up to each agent to decide whether or not to use it. It is not intended to replace existing payment methods.
- Secure – To use IATA EasyPay, agents must fund their IATA EasyPay account. At the time of ticket issuance, the IATA EasyPay system will first verify that funds are available in the account. If yes, the system will generate an authorization and the related funds will be blocked. For airlines there is no risk of chargebacks. Agents will nonetheless be able to void and refund their IATA Easypay transactions as per usual through the BSP.
- Fast – IATA settles IATA EasyPay amounts to the airlines on a daily basis, using the existing BSP processes, with monies reaching the airlines 48 to 96 hours following ticket issuance.
- Economical - With a low cost per transaction, IATA EasyPay is more cost effective for airlines than credit card transactions.
- Flexible - As a secure form of payment, IATA EasyPay transactions are not part of an Agent’s cash sales at risk. This allows Agents a means to lower their financial security amounts with IATA, and to issue transactions which are not included in their cash issuance capacity.
IATA EasyPay is a key component of NewGen ISS, as it will enable the introduction of new accreditation models and the new risk management framework.
Currently live in Norway, IATA EasyPay is launching in a set of pilot countries during the fourth quarter of 2017 prior to a phased roll-out from March 2018.