October 20, 2014
Onyx Payments is a leading processor of payment disbursement and reconciliation solutions. It is also a leading travel distributor and hotel
Net Trans Services serves travel agencies with commission reconciliation services. This ensures accurate tracking of commissions so that the proper amount is paid in a valid transaction. Worldwide Payment Systems offers data and payment processing services. The company also offers commission payments services, outsourcing of billing processes and reconciliation tools. What these companies provide clearly shows that they give a boost to Onyx’s portfolio as a prominent hospitality data and payment processor.
These acquisitions drive towards a complete end-to-end e-commerce suite that can address all travel payments needs. Onyx is of the view that the acquisitions would enable it to eliminate payment processing and reconciliation barriers and improve efficiencies. This would further help in increasing commerce transparency between hotels and travel distributors.
Onyx Payments currently facilitates over $500 million in payments annually. It serves more than 40,000 properties as well as 60,000 travel distributors across 200 countries. Onyx was itself acquired by H.I.G Capital back in April 2013. Onyx Payments’ service portfolio consists of:
At an official press release, Pedro Fernandez Salvador, founder & CEO of WPS, commented:
We have always looked to create increasing value and uncover new possibilities through the services, technologies and efficiencies we provide travel agencies and hotels
Mark S. Dubrow, CEO of Onyx Payments, commented:
The new Onyx Payments now has the innovation, size and financial