Sabre Holdings Corporation, the leading provider of technology and marketing services for the travel industry, and QSI Payments, a world leader in providing secure Internet-based payment services, today announced at the Air Transport World Information Technology Conference an exclusive agreement to provide Sabre Connected travel consultants, consolidators and suppliers with an integrated payment processing and settlement solution.
Under the terms of the agreement, Sabre will introduce the Sabre Payment Processing Solution as part of Sabre Financial Settlement. This capability will allow Sabre Connected travel consultants, consolidators and suppliers, who have attained their own merchant status, to conduct safe and secure online, real-time payment processing utilizing the most up-to-date authentication and authorization tools available.
``The Sabre Payment Processing Solution is another step in Sabre`s strategy to identify and incubate businesses by capitalizing on our technology strengths and in-depth knowledge of the travel industry and expanding on that strength and knowledge into adjacent markets,`` said Tom Klein, president of Emerging Businesses, Sabre. ``With more than $75 billion in travel sales that flow through the Sabre system, we will be able to harness the power of that information and combine it with QSI`s expertise in order to empower our customers by improving the efficiency of the sales process and providing them with tools that will help improve their bottom-line performance.``
In the second quarter of this year Sabre customers will have the opportunity to subscribe to this service. At that time, Sabre customers will be able to take advantage of the ability to process transactions in the appropriate currency and country code for each transaction on a global basis, deliver their transactions to their specified merchant bank for settlement, administer all merchant transaction activity online and process refunds and credits online.
``QSI is delighted to be working with Sabre in providing payment solutions. We have taken an approach to payments in which creative solutions to industry- specific problems are based on Internet technology across all environments, devices, payment types and currencies,`` said John Richards, QSI Payments` CEO and Chairman. ``Our partnership with Sabre demonstrates QSI`s commitment to provide payments solutions specifically for the travel industry.``
QSI Payments e-payment infrastructure dramatically streamlines the transaction authorization and settlement process, assisting airlines and other travel organizations to lower their operating costs without sacrificing service. QSI Payments` offering for travel and global transport is a comprehensive and scalable e-payments solution designed to process electronic transactions using multiple payment methods including loyalty points, such as frequent flier miles, credit card, debit card and smart card, in any sales channel including call center, retail, mail order/telephone order (MOTO), and Internet payments in the B2C and B2B environments.
The Emerging Businesses unit at Sabre includes Web Hosting, Sabre Marketplace and Sabre Financial Settlement. Sabre hosts approximately 700 sites, including Travelocity.com, the third largest e-commerce site on the Web. These sites generate one billion hits and 190 million back-end transactions on a monthly basis. Sabre Marketplace is the first Internet- enabled business to business (B2B) marketplace designed exclusively for the travel and transportation industry.