For more than 5 years now IATA has been working on a new generation settlement system to replace the current one that has been in existence for the last 40 years.
During last year’s Passenger Agency Conference all resolutions related to IATA NewGenISS were passed paving way for the full implementation of the system beginning 2018. According to IATA, the New Generation of IATA Settlement Systems (NewGen ISS) aims to transform the current ISS business model which facilitates the distribution and settlement of funds between travel agents and airlines. NEWGEN ISS covers 4 components that include; Agency accreditation model, Credit management, IATA Easypay and Global Default Insurance.
Beginning next week, we shall commence a comprehensive coverage of the IATA Newgen ISS with an aim of educating and informing our members on what exactly these new changes are and how they are set to impact travel businesses. Stay tuned.
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