NewGen ISS – What does it mean for your business? · With NewGen ISS, IATA is implementing an...

Agents are assigneda Risk Status:

The Risk Status is determined as follows:

With NewGen ISS, IATA is implementing an enhanced risk management framework. One key component of this framework is the Risk Status.

All Agents under the GoStandard or GoGlobal accreditationsare assigned one of three Risk Statuses (A, B or C) based on their latest financial evaluation and historical behaviour (Risk History) in the BSP.

Each Risk Status carries different conditions related to Financial Security requirements, applicable remittance frequency and the Remittance Holding Capacity (RHC).

NewGen ISS introduces a range of accreditation models – GoLite, GoStandard and GoGlobal, allowing Agents to choose the accreditation most fit for their business.

Once NewGen ISS comes into effect in a market, accredited Agents are transitioned by default to the GoStandard accreditation but may opt to change their accreditation type.

NewGen ISS – What doesit mean for your business?NewGen ISS is transforming the BSP to provide moreflexibility for Travel Agents and ensure safer selling for all participants in the system. Here are five ways in which NewGen ISS is changing the BSP:

NewGen ISSaccreditation models

NewGen ISS introducesa Remittance HoldingCapacity (RHC):

The Remittance Holding Capacity establishes the maximum amount of BSP Cash sales an Agent may have outstanding, pending remittance, to the BSP at any time. All Agents with access to BSP Cash as a form of payment are assigned their individual RHC amount.

A

B

B

C

Risk HistoryAssessment

Risk StatusAssigned

FinancialReview Result

Key: Daily Average BSPCash Turnover (3 Highest Reporting periods) = Agent’s Average daily BSP Cash turnover forthe 3 highest Reporting periods of the previous 12 months.

x2 = represents the year-over-year growth threshold.

x2Total Days = Number of days in Reporting period plus number of days in Remittance period.

An Agent’s RHC is calculated based ontheir overall Risk Status:

A

B

C Remittance Holding Capacity =Financial Security Amount Provided

TotalDays

Daily AverageBSP Cash Turnover x2x

(3 Highest Reporting periods)

RiskStatus Remittance Holding Capacity Calculation

Reduce their financial security amounts with IATA

Continue ticketing in the BSP if their RHC is reached

Become accredited as a GoLite Agent

IATA EasyPay is a new, voluntary e-wallet solution, allowing Agents to easily and securely pay for tickets via the BSP.

IATA EasyPay allows Agents to:

Agents benefitfrom IATA EasyPay,an electronic wallet for payment of tickets in the BSP

Agents have a new financial securityoption called Globaldefault insurance (GDI)

For Agents required to provide IATA with a Financial Security, GDI is a voluntary, collateral-free alternative. Offered by a top-rated insurance provider, Agents can apply for cover under GDI for the amount of financial security to be provided to IATA.

For more information on NewGen ISS please go to: https://newgeniss.iata.org/travel-agents/