The IATA Billing and Settlement Plan (BSP): A Comprehensive Overview
The IATA Billing and Settlement Plan (BSP): A Comprehensive Overview Introduction The IATA Billing and Settlement Plan (BSP) is a global financial framework designed to streamline and standardize transactions between airlines and travel agents. Operating across more than 180 countries and territories, BSP eliminates the need for multiple bilateral agreements by providing a unified, efficient settlement mechanism. It serves as a critical financial infrastructure for the global air transport ecosystem. Core Components and Structure BSP Architecture Geographical Coverage: Implemented through local BSP operations in 180+ countries. Participants: IATA-accredited Passenger Sales Agents and participating BSP Airlines. Currency Handling: Supports settlement in a wide range of local currencies, including USD, EUR, GBP, JPY, CAD, AUD, CNY, CHF, SGD, BRL, INR, AED, and others. BSPlink – The Digital Platform BSPlink is the centralized web-based system that enables standardized global processing...