The Nium Airline Payments (NAP) solution offers lower payment
costs, more optionality, and guaranteed payment acceptance for
airlines and travel agencies
LONDON, June 18, 2024 /PRNewswire/ -- Nium, the
global leader in real-time cross-border payments, today announced a
collaboration with Air France and KLM to power "closed loop"
electronic payments between the airlines and selected travel
agents. The Nium Airline Payments Solution (NAP) provides an
alternative to travel agent card transactions, using a private
network of trusted UATP authorization rails and bank transfers to
offer lower costs, simplified reconciliation, and faster
settlement.
NAP eliminates intermediaries from the payment flow, giving Air
France and KLM the flexibility to provide a new payment method for
selected travel agent partners. Using NAP, Nium guarantees payment
acceptance and reduces settlement time from hours down to minutes
and seconds.
"For decades, the travel industry has been grappling with
complex, slow, and expensive payment methods. Nium is helping
travel agents and their airline and hotel partners unlock the
potential of global real-time payments, transforming the way money
moves through the travel ecosystem for the better. We look forward
to helping Air France and KLM resolve some of the inequities – for
both the airlines and for the travel-selling intermediaries –
associated with outdated traditional payment models," said
Spencer Hanlon, Global Head of
Travel Payments at Nium.
For travel agents, payment speed, efficiency, and acceptance
rates are very important. NAP is an innovative electronic payment
method that combines these three critical elements on one platform.
It offers a seamless payment acceptance process to the benefit of
airlines and travel agents alike, boosting conversion rates,
improving operational efficiencies, and increasing margins. The
airline and travel agent enter into a bilateral agreement,
facilitated by Nium, on the use of the platform. This creates a
one-to-one "closed loop" transparent commercial relationship
between the travel agent and airline.
"We built NAP with the goal of creating a more equitable and
sustainable model between airlines and their agent partners around
the world. Payments are no longer the necessary cost of doing
business for airlines, but a determining factor in distribution
discussions, increasing control and collaboration within the
indirect sales channel. It's great to welcome Air France and KLM to
the NAP family and we look forward to bringing the solution to its
travel agent network together," added John Taylor, Head of Airline Payments at
Nium.
The collaboration will see NAP rolled out to Air France and
KLM's travel agent network across Europe, starting in Italy with more markets to be added in future.
To find out more, download Nium's latest e-book exploring the role
of payments in improving profitability and efficiency in the air
travel ecosystem here.
About Nium
Nium, the global leader in real-time, cross-border payments, was
founded on the mission to deliver the global payments
infrastructure of tomorrow, today. With the onset of the global
economy, its payments infrastructure is shaping how banks,
fintechs, and businesses everywhere collect, convert, and disburse
funds instantly across borders. Its payout network supports 100
currencies and spans 220+ markets, 100 of which in real-time. Funds
can be disbursed to accounts, wallets, and cards and collected
locally in 35 markets. Nium's growing card issuance business is
already available in 34 countries. Nium holds regulatory licences
and authorizations in more than 40 countries, enabling seamless
onboarding, rapid integration, and compliance – independent of
geography. The company is co-headquartered in San Francisco and Singapore.
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