Advantage aims to tackle payment ‘complexity’ with new guide

Advantage Travel Partnership has launched an industry guide to help travel agents and TMCs navigate the complexities of the global payments ecosystem.

Developed in collaboration with companies including Mastercard, AirPlus and ConnexPay, the “comprehensive” guide was unveiled at the consortium’s annual conference in Madrid.

It aims to add transparency to the travel payment lifecycle, which the group described as one of the “most complex and least visible” components of a travel transaction.

The resource provides a practical overview of payment flows, distribution models and various settlement solutions, such as virtual cards, lodge accounts and alternative payment methods.

Advantage said the initiative was designed to help members identify ways to streamline reconciliation, manage costs more effectively and mitigate risk when moving money across multiple systems and currencies.

Stephen Baxendale, technology partnerships manager at Advantage Travel Partnership, said: “Payments are a critical but often under-optimised part of the travel value chain.

“This guide is designed to simplify a complex area and provide our members with clear, practical insight into where the challenges lie and where the opportunities exist to drive efficiency.”

The launch builds on the payments proposition Advantage has been developing over the past year, as the consortium looks to strengthen its focus on business enablement and technology for its global membership.