The International Air Transport Association (IATA) utilizes a specialized global financial system known as the BSP (Billing and Settlement Plan) for payments between travel agents and airlines. For passenger travel, the primary forms of payment accepted through the IATA framework include major credit cards (Visa, Mastercard, American Express) and UATP (Universal Air Travel Plan), which is the airline industry's own corporate payment system. In 2026, IATA has significantly expanded "IATA Pay," an account-to-account payment solution that allows consumers to pay for tickets directly from their bank accounts using instant transfer technology, bypassing traditional card networks to reduce transaction fees for airlines. For cargo and corporate transactions, IATA also uses CASS (Cargo Accounts Settlement System). Agents and airlines must meet strict financial criteria to participate in these clearinghouses, which settle billions of dollars in ticket sales daily in over 180 countries, ensuring that money flows securely from the traveler to the carrier.