Does BSP still have you baffled? ASATA has compiled a short document with everything you need to know, from what BSP is exactly, to how it works and BSPLink.
What is BSP?
- Global system
- Facilitates and simplifies the selling, reporting and remitting procedures of IATA Accredited Passenger Sales Agents
- Improves financial control and cash flow for BSP Airlines
- In 2015, IATA’s BSP processed $230.3 billion.
How it works?
The central point through which data and funds flow between travel agents and airlines.
Agents make one single payment to the BSP (remittance), covering sales on all BSP Airlines. The BSP makes one consolidated payment to each airline, covering sales made by all agents in the country/region.
- Preparation to sell on behalf of airlines
Before an agent can begin selling on behalf of airlines, the following must take place:
- A range of electronic ticket numbers are assigned to the Agent.
- The Airline assigns ticketing authority to the Agent to allow issue of ETs.
- Agents need to have access to an IATA-approved ticketing system such as a Global Distribution System (GDS).
- Reporting by Agents
The agent reports all sales and refunds at the end of the reporting period. This is done electronically, through BSPlink. All transactions are forwarded to a central BSP Data Processing Centre (DPC).
- Processing by BSP
The Data Processing Centre:
- Captures the tickets and refunds information from data files that have been transmitted by the GDS/ticketing system or other automated system such as BSPlink.
- Processes all relevant data and produce an “Agents Billing Analysis” for each agent. This analysis is compiled from the information of one or more reporting periods.
- Forwards a statement of sales made by Agents to each BSP Airline. This statement is compiled from the information of one or more reporting periods.
- Monitors ET ranges and provide replenishment as necessary.
The Agent makes just one net remittance covering all its BSP transactions for that period for all BSP Airlines. The BSP preferred method of payment is by direct debit.
- Follow up by Airlines
The accounting department of each airline audits incoming data and addresses debit/credit accounting memoranda (ADM/ACM) to agents as necessary.
IATA provides services for the settlement of financial transactions between travel agents and the airlines. This service consolidates the amounts owed by each agent and the amounts due to each airline and enables the settlement to be made through one single financial transfer for each participant.
BSP link is an innovative, internet-based system, which facilitates these interactions and exchanges of information between all participants in the Billing and Settlement Plan (BSP).
- Easier and faster access to ticketing information, no longer do you have to wait for the distribution of paper outputs. All the information you need is available 24 hours a day in your office
- Less filing, all the information you need is electronically stored
- Reduced printing and mailing costs, transactions are conducted over the internet
- Less opportunity for errors, automated processes reduce manual errors
- Easy access to reference data, through electronic document search.