Nium Airline Payments has been designed to eliminate surcharges and business that limit non-acceptance policies. Credit: Artturi Jalli from Unsplash.

Singapore-based payments platform Nium has introduced a new closed-loop payments solution for airlines, travel agents, and online travel agencies (OTAs).

Dubbed Nium Airline Payments (NAP), the tool has been empowered by universal air travel plan (UATP).

The closed-loop payments model has been designed to eliminate surcharges and business that limit non-acceptance policies that have increased the cost of B2B travel payments.

Nium has developed NAP using technology from Ixaris, a travel payments optimisation provider that it bought last year.

NAP removes intermediaries, which levy charges, from the payment flow.

This helps airlines to create transparent incentives for OTA partners, taking into account routes, seasonality, business volumes and others.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Tick here to opt out of curated industry news, reports, and event updates from Electronic Payments International.

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Nium offers confirmed payment acceptance for airlines since they already have the capability to accept payments via the UATP network, noted the company.

The company’s payments process complies with International Air Transport Association (IATA) Resolution 890 and has been registered under the IATA TIP (Transparency in Payments) scheme.

Air Europa has already contracted Nium to address issues related with conventional card payment methods through NAP.

Nium head of travel Spencer Hanlon said: “Without payments, there can be no sale and we are very honoured to help Air Europa resolve what has been one of the biggest airline distribution conundrums of the internet era: do I increase my distribution at the price of accepting high payment fees, or limit distribution to partners who offer better payment terms but reduce overall sales opportunities?”

In May this year, Nium announced the expansion of its real-time payments offerings worldwide by launching real-time payments in Malaysia.