Set Up Travel Funds That Pay Dividends
Airlines are always looking to reduce costs and boost revenue. However, credit card fees cut into the bottom line and don’t offer the optimal solution for handling, processing and retaining travel funds.
Carriers are in need of a flexible way to manage payments for tickets and ancillary products while creating bonds with customers.
Increase Revenue and Build Customer Loyalty
Travel Bank enables airlines to set up secure electronic fund accounts for travelers and corporations alike which generate credits and debits. Not only does this curb costs for bookings and refunds, but it also enables alternative payment options such as barter and incentive-based marketing.
Along the way, Travel Bank can increase revenue by enticing future bookings and increasing sales conversions via promotional campaigns. Most importantly, it can turn one-time customers into long-term customers.
Accept deposits or refunds as “hard” credits – typically unearned revenue as it represents actual funds. Issue compensation or “soft” credits as a goodwill for disruptions, customer disservice, promotional or loyalty credit.
Redeem for tickets, ancillaries or combinations of both. Fulfill using same format and downline processes as a credit card. Issue service credits as a form of payment to be applied for purchases orchestrated using a Sabre Payment Web Service call to Travel Bank.
Reporting & Tracking
Generate online and offline reports for airline with customer statements for transparency. Offer the granularity of a bank account without being dependent on tickets or EMD documents.
Use Rules Management Controls to categorize customers based on applicable currency, Travel Bank funds, customer groups, service credits and language. Leverage secondary market user groups such as barter agreements.
Store Travel Bank account information within the Customer Insight profiles. Create Travel Bank accounts automatically via a web app. Merge accounts using the administration GUI.
Redeem credits for airline total cost or base fare products. Define expiration dates by airline or credit type. Issue credits by airline agents through Interact or manually via the Travel Bank administration tool.