07 Jul

Speed up your cash with SPS

In difficult economic times, tour operators must ensure they use a payment service with the least restrictions on their cashflow.  ABTA’s Single Payment Scheme (SPS) delivers agent payments directly into the operator’s bank account the next business day. Unlike some direct debiting systems that can take weeks to credit funds, SPS payments leave agents accounts on Friday and arrive in the tour operator’s account on Monday.

SPS is used by 2,100 travel agents and processes payments in excess of £400 million per year. The web-based payment service can also provide comprehensive payment consolidation, query identification and cashflow forecasting amongst a range of other benefits.

Richard Francis, Cosmos Finance Director said “We have been using SPS now for several years and have no hesitation in recommending it. The feedback we receive from agents is that it’s easy, efficient and very straightforward making the collection of money a very simple process”

Lynne Flooks, Financial Operations Manager, Carnival commented “Carnival first implemented SPS in 2005 and consider it to have been a huge success. 90% of our ABTA cash agents are signed up and it has been incorporated as a requirement in our terms of trade. “

If ABTA tour operators are not yet using SPS, they can find how they can save time and money by logging into the Member’s Area of ABTA.com and clicking on the “Services” option from the left-hand menu or contact Michael Threlfall (mthrelfall@abta.co.uk) on 020 3117 0569