IATA BSP (Billing and Settlement Plan)
The IATA Billing and Settlement Plan (BSP) is a global payment mechanism that simplifies financial transactions between travel agencies and airlines. It provides a centralised platform for processing, reporting, and settling airline ticket sales.
Applications
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
Advantages
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
Challenges
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
