WASHINGTON, March 17, 2021 /PRNewswire/ -- UATP is proud to announce its new partnership with Nuvei (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands, to begin offering full payment service provider (PSP) services. As part of its ongoing effort to expand its offerings to airlines, UATP partnered with Nuvei to help airlines optimize payment processing, enrich the client experience and help lower transaction costs.
"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," said Ralph Kaiser, president and CEO, UATP. "The industry has changed tremendously in the past year and UATP will continue to seek out the best solutions for airlines. This new partnership makes it easier for airlines to fulfill their payment strategies, with UATP as their trusted provider."
The partnership enables UATP 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.
"We are excited to join forces with UATP in order to fuel its growth ambitions and to provide its network of airlines with a powerful technology stack, enabling them to meet customer demands while maximizing every payment opportunity," said Philip Fayer, Nuvei's chairman and CEO. "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."
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 reach and generate incremental sales globally. UATP offers easy-to-use data tools, DataStream® and DataMine®, which provide comprehensive account details to Issuers and corporate travel buyers for accurate travel management.
Accepted as a form of payment for corporate business travel worldwide by airlines, travel agencies and Amtrak®; UATP accounts are issued by: Aeromexico; Air Canada (TSE:AC); Air China; Air New Zealand (ANZFF.PK); Air Niugini; Air Serbia; American Airlines (NASDAQ: AAL); APG Airlines; Austrian Airlines; BCD Travel; China Eastern Airlines (NYSE: CEA); Delta Air Lines (NYSE: DAL); EL AL Israel Airlines; Etihad Airways; Fareportal; Frontier Airlines; GOL Linhas aereas inteligentes S.A. (NYSE: GOL and Bovespa: GOLL4); Hahn Air; High Point; Japan Airlines (9201:JP); JetBlue Airways; Qantas Airways (QUBSF.PK); Shandong Airlines; Sichuan Airlines; Southwest Airlines; Sun Country Airlines; TUIfly GmbH; Turkish Airlines (ISE:THYAO); United Airlines (NASDAQ: UAL) and WestJet.
AirPlus International issues the UATP-based Company Account for Lufthansa German Airlines.
We are Nuvei (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform offers direct connections to all major payment card schemes in over 200 markets worldwide, supports 455 local and alternative payment methods and nearly 150 currencies. Our purpose is to make our world a local marketplace.
For more information, visit www.nuvei.com.
Wendy L. Ward
Nuvei Investor Relations
Nuvei Public Relations
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SOURCE Universal Air Travel Plan, Inc.