UATP Keeps Its Eye on Alternative Payments—and Hotels
(February 17, 2009)
Universal Air Travel Plan Inc. is still in growth mode despite some weakness in its core corporate travel business, thanks in part to an ongoing alternative online-payments initiative that started in 2005. Now the specialty payment processor is looking to sign hotels as merchants.
Processing volumes rose about 20% last year for Washington, D.C.-based UATP. “In 2007 we broke the $10 billion mark; in 2008 we were at $12 billion,” president and chief executive officer Ralph Kaiser tells Digital Transactions News by e-mail. “Our profitability is not public, but suffice it to say 2007 was a good year and 2008 was even better.”
UATP has 19 airline shareholder-owners worldwide. Thirteen issue its card, and its brand is accepted by nearly 250. Online payment systems are an increasingly important part of the mix as UATP seeks to offer airlines new product offerings beyond its core corporate travel card, especially ones that cost the carriers less to accept than general-purpose credit cards (Digital Transactions News, Aug. 20, 2008). Already accepted or planned payment brands usable through UATP include PayPal Inc., Bill Me Later Inc. (recently acquired by PayPal parent company eBay Inc.), Moneta Corp., the PIN-based specialists HomeATM and Acculynk Inc., and prepaid cards through Ceridian Corp.’s Stored Value Solutions....
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homeatm, pin debit, alternative payments, UATP
