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Abacus International is working with Visa to launch revenue assurance programme for travel agents. According to a release, through a centrally-billed ‘virtual account’ called Visa Central Travel Account, companies enjoy greater billing flexibility, and spend visibility through Visa reports that feature enhanced data which is provided by Abacus-connected travel agencies.
This product is designed specifically to meet the business needs of both travel agents and corporate travellers. Abacus International VP- marketing, Brett Henry said travel agencies can have improved cash flow through faster revenue turnaround as they may be paid up to 90 percent faster by merchant banks. “In some markets, travel agents can recover their revenues charged to the Visa Central Travel Account within three working days instead of the traditional 30 days credit cycle that is associated with the manual processing of cash and cheques. With Billing and Settlement Plan (BSP) payment terms shortened to between one and seven days, travel agents in this program will be able to better meet their payment obligations,” he said.
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