Travel technology supplier TRX has partnered with business applications software supplier COA Solutions to provide a tool to assist airlines in payment processing, the companies announced this month.
Together, the companies are providing airlines with an outsourced platform to run their payment and Universal Air Travel Plan programs in order to help cut the amount they pay in card transaction fees. Airlines continually have sought alternative payment mechanisms to traditional corporate and credit cards, which can carry a fee of 2.5 percent or more of the cost of the total ticket
(BTNonline, Sept. 10, 2007).TRX and COA integrated their own technology components to create the joint service. Features include local currency billing, support for direct debits, management of corporate discounts and rebates per client and per route, statements e-mailed directly to corporations, online reporting and storage of two years of data, allowing for year-over-year reporting.
The tool has been in production since October and is processing about $600 million on an annualized basis, the companies said.