ARLINGTON, Va., April 25, 2013 /PRNewswire/ -- ARCannounced today that it has launched enhancements to the company's sales reporting and settlement system to allow for accelerated ticket refund processing for travel agencies and their customers. The system's upgrade, made in consultation with ARC's Carrier and Agency Working Groups, expedites cash and credit card refunds to be processed on the same schedule as sales transactions, as opposed to a former weekly batch process schedule.
"ARC continually works with our stakeholders and customers to discover ways to improve our service," said ARC's Lauri Reishus, vice president and chief operating officer. "This significant change to our settlement system is a perfect example of this, with benefits to our airline and travel agency members, whose customers will realize faster refund transactions on their credit cards. As part of ARC's continuous process improvement efforts, ticket exchange processing is also being examined for possible enhancements in the future."
About ARC: ARC powers the U.S.-based travel network with premier business solutions, travel agency accreditation services, process and financial management tools, and powerful data analytics. Nearly 14,000 travel agencies and 190 airlines use ARC's settlement services, which in 2012 totaled more than $84 billion. As the industry's gold standard of accreditation, ARC allows participating agencies and carriers to focus on what's important – increasing their revenue. Established in 1984, ARC is headquartered in Arlington, Va. For more information, visit www.arccorp.com.