Imagine a global network of travel agencies processing millions of airline tickets daily without an efficient, unified settlement system. The International Air Transport Association (IATA) addressed this challenge decades ago by creating the Billing and Settlement Plan (BSP) system. Now, IATA has introduced a new online course designed to help travel professionals master this critical financial infrastructure.
The BSP System: A Financial Backbone for Aviation
IATA's BSP serves as a global platform facilitating ticket settlements between airlines and accredited travel agencies. By standardizing financial processes, the system reduces transaction costs while improving operational efficiency. For travel agencies, BSP membership enables representation of multiple airlines through a single interface, significantly expanding business opportunities.
Course Highlights
The "Introduction to the BSP System and Language" online program provides comprehensive training on:
- Core principles of BSP operations
- Essential terminology and definitions
- Reporting procedures and sales documentation
- Financial remittance processes
Curriculum Structure
The self-paced course comprises five modules:
- BSP Fundamentals: Historical context and operational framework
- Terminology: Standardized language for financial transactions
- Stakeholder Roles: Responsibilities of airlines, agencies, and settlement banks
- Transaction Lifecycle: Ticketing through final settlement
- Reference Materials: Official manuals and regulatory documents
Target Audience
This training benefits various travel industry professionals including:
- Accounting specialists
- Travel consultants
- Agency managers
- Back-office administrators
Certification Process
Participants complete the approximately two-hour course within six months of enrollment. The program concludes with a ten-question multiple-choice examination requiring 70% accuracy for certification. Two examination attempts are permitted.
Key BSP Terminology
- Reporting Period: Monthly cycle for sales documentation
- Remittance: Scheduled payment transfers
- ADM/ACM: Debit/credit memoranda for financial adjustments
Operational Workflow
The standardized BSP process involves:
- Ticket issuance through global distribution systems
- Periodic sales reporting
- Automated billing generation
- Timely fund transfers
- Final settlement to airlines
Industry Impact
As the trade association representing 82% of global air traffic, IATA maintains critical financial infrastructure supporting over 290 member airlines. The BSP system processes billions in transactions annually, enabling efficient capital flows throughout the aviation ecosystem.