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Nium partners with Air France and KLM

Tuesday 18 June 2024 10:00 CET | News

Nium has announced its partnership with Air France and KLM in order to power closed-loop electronic transactions between airlines and selected travel agents. 

Following this announcement, the Nium Airline Payments Solution (NAP) will continue to provide an alternative to travel agent card transactions. This process will take place using a private network of trusted UATP authorisation rails and bank transfers to deliver lower costs, simplified reconciliation, and faster settlement. 

In addition, both companies will focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. 

 

Nium has announced its partnership with Air France and KLM in order to power closed-loop electronic transactions between airlines and selected travel agents.

More information on the announcement

Nium represents a global real-time, cross-border payments provider that was developed in order to deliver an optimised and secure payment infrastructure to its clients and partners. 

Throughout this strategic deal, NAP will eliminate intermediaries from the payment flow, providing Air France and KLM the needed flexibility in order to deliver a new payment method for selected travel agent partners. By leveraging the Nium Airline Payments Solution, the company aims to guarantee payment acceptance and reduce the overall settlement time from hours down to minutes and seconds. 

For travel agents, payment speed, efficiency, and acceptance rates are very important, and NAP was developed as an optimised electronic payment method that will combine these three critical elements on one platform. In addition, the service will provide a payment acceptance procedure to the benefit of airlines and travel agents alike in order to boost conversion rates, increase margins, and optimise operational efficiencies. The airline and travel agent entered a bilateral agreement that is facilitated by Nium, on the use of the platform, developing a one-to-one closed-loop transparent commercial relationship between the travel agent and airline. 

Furthermore, the collaboration is expected to see NAP rolled out to Air France and KLM’s travel agent network across the region of Europe, starting with Italy and with more markets to be added in the future. In addition, the company will focus on optimising the way Air France and KLM resolve some of the inequities, for both the airlines and for the travel-seeling intermediaries that are associated with outdated traditional payment models. 


For more information about Nium, please check out the company profile in The Paypers Company Database.

 


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Keywords: partnership, green finance, sustainability , payments , online payments, mobile payments, digital payments, ecommerce
Categories: Payments & Commerce
Companies: Air France, KLM, Nium
Countries: World
This article is part of category

Payments & Commerce

Air France

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KLM

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Nium

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