Universal Air Travel Plan (UATP), a U.S.-based global payment network for travel, announced on Wednesday it has joined forces with Nuvei, a global payment technology provider based in Canada, to begin offering full payment service provider (PSP) services. UATP reported that the collaboration enables it to provide such products as payment gateway services, acquiring connectivity, local and alternative payment methods, transaction optimization, reconciliation, and other flexible and effective services to protect cash flow for UATP’s network of global airlines.
UATP is a global payment network owned and operated by the world’s airlines and accepted by thousands of merchants for air, rail, and travel agency payments. UATP connects airlines to Alternative Forms of Payment which can expand the reach and generate incremental sales globally. The company offers data tools, DataStream, and DataMine, which provide comprehensive account details to Issuers and corporate travel buyers for accurate travel management. Ralph Kaiser, president and CEO of UATP, further explained:
“UATP’s primary goal has always been to increase acceptance rates while reducing the costs for our network, and to solve the airline industry’s diverse payment needs. Offering a comprehensive fintech stack will help meet the airlines’ requirements, all within the UATP framework.”
Speaking about the partnership, Philip Fayer, Nuvei’s Chairman and CEO, further commented:
“We’re confident for the future of the travel industry and are looking forward to our partnership with such an influential organization to help lead the rebound.”
Founded in 2003, Nuvei provides fully-supported payment solutions designed to promote and advance its partners’ success.
“We work with ISOs, ISVs, payment facilitators, developers, and eCommerce platforms, supporting them with the technology, expertise, and customer service they need to stand out. Backed by our full-service, globally connected platform, our vision is to build a network in which our partners can truly thrive. Our goal is to create bigger and better payment opportunities for all, paving the way to great partnerships.”