Billing and Settlement Plan-BSP
Billing and Settlement Plan-BSP is a system designed to coordinate the data and payments between the travel agencies and airlines, so that all of the information is comprised through the system itself. As per IATA, BSP is a system designed to facilitate and simplify the selling, reporting and remitting procedures of IATA Accredited Passenger Sales Agents (PSA), as well as improve financial control and cash flow for BSP Airlines.
– This has enabled the travel agents to clear their sales accounts from a single place.
– On the other hands, airlines also receive all their funds through a single channel.
– This thus made it professional electronic reporting and control chain.
– Ensured hassles free payment option and sales channel coordination, saving time, efforts and resources for the clearance.
– Also an intermediary system chain is developed to coordinate both the airlines and the travel organizations.