Sabre-Amadeus proposed JV eyes payment efficiencies and increased automation
Two of major global distribution system companies Sabre Holdings and Amadeus have filed with the European Commission for antitrust approval to create a joint venture that will provide secure, automated payment processing, clearing and reconciliation solutions to the global travel industry. (8/9/2007)
According to an official release, the intent of the JV is to establish an industry standard solution to improve and better meet the requirements of the travel industry with payment efficiencies, increased automation, and improved interoperability.
The JV plans to focus on the non-air segments of the industry such as hotels, cruise, tour, car and rail. It “will integrate the existing financial instruments already used by the travel industry into a best-in-class multi-channel, multi-GDS platform, which will allow travel industry players to effectively manage all aspects of their payment needs in a flexible, easy-to-use solution.”
As per the information available, the European Commission said the deadline for its inquiry into Amadeus IT Group’s proposed JV with Sabre Holdings is set for September 12.