 "Airlines stock photo")
The International Air Transport Association (IATA) has rolled out a new payment model for travel agents which aims to ease cash flows for airlines.
Currently, travel agents in India receive seven-day credit to pay airlines for ticket bookings under the IATA's billing and settlement plan. Agents are required to furnish a bank guarantee to avail credit.
Under the EasyPay scheme announced today, agents will be able to make payments using a debit card. IATA has tied up with Yes Bank to implement the scheme.
The EasyPay is a component of the new generation settlement system (NewGen ISS) launched by IATA
