Airlines operating locally now have the opportunity to clear payments made by credit or debit cards directly through IATA’s electronic credit card billing scheme thanks to the cooperative efforts of the airline industry’s pre-eminent trade association and Bank of Valletta.

IATA’s credit card service provides a fast and cost-effective way for airlines operating in Malta to receive settlement for ticket sales made by credit and debit cards. Prior to the introduction of the new service, payments were primarily processed manually. The new system will also provide more streamlined procedures for travel agents. Bank of Valletta will process the daily electronic files generated by IATA’s data processing centre.

A number of airlines have already started using the service.

John Pace, business manager at Bank of Valletta’s Card Processing Centre stated, “We are delighted to witness the launch of this new service for IATA which offers airlines operating locally a more efficient and cost-effective system to clear their transactions. At Bank of Valletta, we seek to offer added value to our business partners and we are proud to have worked closely with IATA on this project.”

The new system also provides an ideal platform for airlines to promote 100% electronic ticketing, which is to be implemented globally by the end of 2007.