WASHINGTON, Jan. 12, 2012
/PRNewswire/ -- UATP, the low cost payment network, announced
today record transactions, charge volume and new Issuer signings
for calendar year 2011.
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Commenting on the record year, UATP CEO Ralph Kaiser stated, "UATP bounced back from
challenging times in 2009 and prospered in 2010. During 2011,
through the resurgence of corporate travel and UATP's product
diversity, including its new DataStream product suite, we have
grown in every aspect of our business. In fact, we are so
optimistic about 2012 that we expect to break these 2011
records."
UATP processed approximately US$13
billion in 2011 and signed five new airline Issuers:
Aeromexico, Malaysia Airlines, Qatar Airways, Shandong
Airlines and Turkish Airlines. Transaction volume from
existing Issuer programs was up 17% and total charge volume grew by
23%.
UATP continues to diversify its products. "UATP's payment
processing business continued to grow rapidly and saw a 43%
increase in 2011. We also attribute a significant portion of
our growth to our new DataStream product line which has allowed new
Issuers to join the Network with little up-front investment while
allowing them to provide their corporate customers with a
state-of-the-art, data rich, multi-lingual and multi-currency
travel management system. We expect the 2011 significant
growth rates throughout all lines of UATP's business to continue in
2012," said Kaiser.
DataStream, UATP's proprietary billing system, along with
DataMine, a corporate portal and DataView, an interactive dashboard
has been the key to new Issuer growth. UATP's core business,
the corporate travel card, has been significantly enhanced with
addition of these products and offers UATP's airline owners and
corporate clients alike with further options in their travel
management programs.
"In 2012, UATP will continue its growth with the expansion of
the Network with the launch of new Issuers and Merchants and
continued growth of our products and processing services for online
payment brands. We expect to sign more Issuers and will
continue our quest of lowering distribution costs for airlines and
other travel-related Merchants by solving travel payment
needs. It's going to be a good year; stay tuned for upcoming
announcements," concluded Kaiser.
About UATP
UATP accounts are accepted as a form of payment for
corporate business travel worldwide by airlines, travel agencies
and Amtrak®. UATP accounts are issued by: Air New Zealand
(ANZFF.PK); American Airlines; Austrian Airlines; China Eastern
Airlines Co., Ltd; Delta Air Lines (NYSE:DAL); EL AL Israel
Airlines Ltd; GOL Linhas aereas inteligentes S.A. (NYSE: GOL and
Bovespa: GOLL4); Hahn Air; Japan Airlines; Qantas Airways, Ltd.
(QUBSF. PK); United Airlines (NYSE: UAL); and US Airways (NYSE:
LCC).
AirPlus International issues the UATP-based Company Account for:
British Airways (LSE: IAG); Continental Airlines (NYSE: UAL); and
Lufthansa German Airlines.
Contact:
UATP Corporate Communications
Wendy Ward, wward@uatp.com
+1 202 626 4077
SOURCE UATP