Nium, the Real-Time Global Payments Provider, Announces Partnership with Air France and KLM

Nium, a Fintech providing real-time global payments, announced a collaboration with Air France and KLM to power “closed loop” electronic payments between the airlines and selected travel agents.

The Nium Airline Payments Solution (NAP) provides “an alternative to travel agent card transactions, using a private network of trusted UATP authorization rails and bank transfers to offer lower costs, simplified reconciliation, and faster settlement.”

NAP eliminates intermediaries from “the payment flow, giving Air France and KLM the flexibility to provide a new payment method for selected travel agent partners.”

Using NAP, Nium claims that it guarantees payment acceptance and “reduces settlement time from hours down to minutes and seconds.”

Spencer Hanlon, Global Head of Travel Payments at Nium said:

“For decades, the travel industry has been grappling with complex, slow, and expensive payment methods. Nium is helping travel agents and their airline and hotel partners unlock the potential of global real-time payments, transforming the way money moves through the travel ecosystem for the better. We look forward to helping Air France and KLM resolve some of the inequities – for both the airlines and for the travel-selling intermediaries – associated with outdated traditional payment models,”

For travel agents, payment speed, efficiency, and acceptance rates are very important.

NAP is an innovative electronic payment method “that combines these three critical elements on one platform.”

It offers a payment acceptance process “to the benefit of airlines and travel agents alike, boosting conversion rates, improving operational efficiencies, and increasing margins.”

The airline and travel agent enter into “a bilateral agreement, facilitated by Nium, on the use of the platform.”

This creates a one-to-one “closed loop” transparent commercial relationship “between the travel agent and airline.”

John Taylor, Head of Airline Payments at Nium said:

“We built NAP with the goal of creating a more equitable and sustainable model between airlines and their agent partners around the world. Payments are no longer the necessary cost of doing business for airlines, but a determining factor in distribution discussions, increasing control and collaboration within the indirect sales channel. It’s great to welcome Air France and KLM to the NAP family and we look forward to bringing the solution to its travel agent network together.”

The collaboration will see NAP rolled out “to Air France and KLM’s travel agent network across Europe, starting in Italy with more markets to be added in future.”

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