ICCS and Credit Card Settlements
Simplifying the Business of Airline Treasury
It is the underlying vision of IATA to offer a comprehensive cash management solution that
facilitates the collection and repatriation of airlines’ total cash flows. Through the main IATA
Currency Clearance Service (ICCS), IATA offers airlines the facility to manage the
repatriation of their BSP, CASS and GSA sales proceeds.
In this regard, the logical next step is to further enhance the ICCS to incorporate the
settlement of airlines’ credit card cash flows.
The ICCS processed its very first credit card settlement in 2004, through BSP Chile, as part
of a pilot project held in conjunction with Air Canada. The solution allows airlines operating
in Chile to collect their local credit card sales settlements through the ICCS, applying the
same terms and conditions used for the BSP cash sales.
During 2005, the ICCS established links with 2 main centralised credit card acquiring
institutions, American Express and SEB Bank (Euroline Division), which allows airlines to
recive all their incoming AMEX and Euroline settlements via the ICCS.
The following ICCS credit card receivables services are envisaged as being potentially
offered to our Members through ICCS, with their assistance:
¾ Receiving local currency card settlements from local banks/card schemes
¾ Receiving local currency card settlements from central acquiring banks/card schemes
¾ Converting local currency card settlements
¾ Facilitating central settlement of card sales through IATA CardClear & IATA CardAXS
If you have any interest in pursuing any of the ICCS credit card
receivables solutions mentioned above, please contact:
Assistant Director, Industry Cash Management Services
Tel: +1 514 390 6802
Fax: +1 514 874 1589