WASHINGTON, Jan. 12, 2012 /PRNewswire/ -- UATP, the low cost payment network, announced today record transactions, charge volume and new Issuer signings for calendar year 2011.
Commenting on the record year, UATP CEO Ralph Kaiser stated, "UATP bounced back from challenging times in 2009 and prospered in 2010. During 2011, through the resurgence of corporate travel and UATP's product diversity, including its new DataStream product suite, we have grown in every aspect of our business. In fact, we are so optimistic about 2012 that we expect to break these 2011 records."
UATP processed approximately US$13 billion in 2011 and signed five new airline Issuers: Aeromexico, Malaysia Airlines, Qatar Airways, Shandong Airlines and Turkish Airlines. Transaction volume from existing Issuer programs was up 17% and total charge volume grew by 23%.
UATP continues to diversify its products. "UATP's payment processing business continued to grow rapidly and saw a 43% increase in 2011. We also attribute a significant portion of our growth to our new DataStream product line which has allowed new Issuers to join the Network with little up-front investment while allowing them to provide their corporate customers with a state-of-the-art, data rich, multi-lingual and multi-currency travel management system. We expect the 2011 significant growth rates throughout all lines of UATP's business to continue in 2012," said Kaiser.
DataStream, UATP's proprietary billing system, along with DataMine, a corporate portal and DataView, an interactive dashboard has been the key to new Issuer growth. UATP's core business, the corporate travel card, has been significantly enhanced with addition of these products and offers UATP's airline owners and corporate clients alike with further options in their travel management programs.
"In 2012, UATP will continue its growth with the expansion of the Network with the launch of new Issuers and Merchants and continued growth of our products and processing services for online payment brands. We expect to sign more Issuers and will continue our quest of lowering distribution costs for airlines and other travel-related Merchants by solving travel payment needs. It's going to be a good year; stay tuned for upcoming announcements," concluded Kaiser.
UATP accounts are accepted as a form of payment for corporate business travel worldwide by airlines, travel agencies and Amtrak®. UATP accounts are issued by: Air New Zealand (ANZFF.PK); American Airlines; Austrian Airlines; China Eastern Airlines Co., Ltd; Delta Air Lines (NYSE: DAL); EL AL Israel Airlines Ltd; GOL Linhas aereas inteligentes S.A. (NYSE: GOL and Bovespa: GOLL4); Hahn Air; Japan Airlines; Qantas Airways, Ltd. (QUBSF. PK); United Airlines (NYSE: UAL); and US Airways (NYSE: LCC).
AirPlus International issues the UATP-based Company Account for: British Airways (LSE: IAG); Continental Airlines (NYSE: UAL); and Lufthansa German Airlines.
Contact: UATP Corporate Communications Wendy Ward, email@example.com +1 202 626 4077