Universal Air Travel Plan (UATP), the global travel payment network, is continuing its four-year growth trend with record charge volumes, including USD one billion in business travel sales for October 2007. “UATP’s October 2007 results indicate the continuous growth in business travel and that companies are focusing on enhanced data and the other benefits offered by UATP in order to lower their travel costs as part of a smart business strategy,” said Ralph Kaiser president and CEO, UATP. “Each area of UATP’s worldwide network has had significant growth: Asia/Pacific; Europe, Middle East and Africa; and, the Americas.”
“UATP’s growth rate continues to increase with an 11 percent year over year increase worldwide through October. And, as credit card costs continue to rise, and other brands continue to raise their fees, airlines that issue UATP are helping retain more revenue by moving key corporate accounts onto UATP, thus lowering distribution costs through lower merchant service fees.” Kaiser added.
Since third quarter 2003, UATP has experienced continuous growth that has increased sales from USD 6.9 billion in 2003; the pattern is expected to continue as UATP is on target to reach another milestone of over USD 10 billion in total charge volume for 2007.
UATP continues to broaden its customer base worldwide by enlisting airlines and travel agencies as Merchants and the recruitment of new airline Issuers. Throughout 2007, UATP has also seen the growth of its partnerships with PayPal and Moneta, which enable consumer payments on airline web sites by utilizing existing UATP connections.
The UATP Network, its partnerships and total volume, are expected to grow throughout 2008, adding another billion in charge volume—watch for upcoming announcements and join the network today.