ABTA is set to replace its Single Payment Scheme (SPS) in the coming weeks.
The original system has been in place for over 20 years but is being relaunched by British company Travel Ledger.
SPS is a direct debit scheme that connects travel agents and tour operators. Currently, payments are consolidated weekly so that a single transaction is made in or out of each member’s bank account.
The new scheme means ABTA members have more control over their transactions and can facilitate deposit and balance payments between operators and agents.
Members will be able to review their own information and identify potential issues with transactions in advance. Payments can also be processed more frequently.
In 2020, there was limited access to the system as it struggled to cope with excess refund payments due to the pandemic. Over 600,000 bookings were made using SPS in 2019.
The Travel Ledger scheme will use the same method as the previous platform to avoid confusion for existing users.
John de Vial, Special Adviser at ABTA, said: “The new scheme will use the latest technology to allow fast, accurate and secure consolidated payments and refunds. We’re confident that it will greatly support users’ businesses and make payments easier.”
Travel Ledger founder, Roberto De Ra, said: “Having tested the system successfully with a focus group of ABTA members, we’re delighted to offer the system across the entire ABTA membership in the coming weeks and look forward to a fruitful collaboration with them.’’