Billing and Settlement Plan (BSP)
Billing and Settlement Plan (BSP) is a global electronic billing system designed by IATA (International Air Transport Association) to perform and facilitate transactions and data exchange between travel agencies and airlines. Basically, BSP is a payment mediator that simplifies selling, reporting, and remitting procedures of IATA accredited agents, in addition to improving financial control and cash flow for BSP airlines.
Its function is similar to that of ARC (Airline Reporting Corporation) except that ARC focuses on entities registered in the US, Puerto Rico, the US Virgin Islands, and American Samoa. Meanwhile, BSP operates in 180 countries and serves over 370 participating airlines.
BSPlink is the BSP access interface that
- enables online transactions,
- generates reports and statistics,
- helps manage debit/credit memos and refunds, and
- offers communication tools.
Participation in BSP is open to all airlines (IATA members and nonmembers). IATA accredited agents in the BSP country of operation are also automatically eligible for participation.