Onyx Payments acquires Net Trans Services
In some consolidation news on the travel payments front, US-based Onyx Payments has acquired Norway’s Net Trans Services.
The deal's terms were not disclosed, as Onyx bills the purchase as a "strategic combination" that "removes barriers and strengthens commerce for the travel industry."
Net Trans Services is a leader in commission reconciliation services, which is a service for travel agencies that ensures accurate tracking of commissions so that the proper amount is paid for the correct transaction.
The companies have been working together on joint customer accounts since 2006, providing the base from which the deal was struck.