For airlines, payments reconciliation is an intense, complicated process. You must make sense of numerous sales channels, payment methods, countries, currencies, banks and acquirers. It’s easy to lose revenue through missed payments or violations from a service-level agreement.
Luckily, our automated VIVALDI Reconciliation solution keeps detailed track of all transaction-level reconciliations for every card and alternative form of payment processed. With minimal manual intervention, it prevents revenue leakage and increases productivity.
With airlines setting tolerance levels of upto 4 or 5% to allow for the complexities of reconciling individual transactions, the cost of acceptance, variances in foreign exchange calculations and the loss of revenue through fraud or disputes, the importance of controlling all revenue and associated costs or leakage has never been greater. Whenever there’s a missing payment or an incorrect payment acceptance cost, our platform will detect it. Transaction-level reconciliation identifies missing payments and incorrect fees applied by the acquirers, thus enabling you to reduce revenue leakage.
Once you have better control over your reconciliation at the transaction level, you’ll have more control when negotiating contracts with acquirers by covering missed SLAs, discount rates and foreign exchange rates.