22 September 2007

OK so a comment on Money Direct

I have been studiously avoiding this issue but I cannot any longer. We did file in support of BTC (Go to their public website) http://btcweb.biz/.)

There are two issues here that I think people have ignored. Tim Hughes pointed out that Money Direct (the name of the JV) is an operating entity owned by Sabre that is accepting an inbound relationship with Amadeus. Approved by the EU they have wasted no time to implement the spin machine. The other issue is that the enemy here is a failure to develop a decent financial fulfillment process for the industry at a cost effective rate. For this there are two "bad boys". Expedia for paying only on an low frequency basis (quarterly for most players) and of course Pegasus for letting their service language.

Let’s be clear. The whole market needs a better way to handle financial fulfillment, currency conversion commission clearing. The high costs are eating into everyone's profits. While I applaud the initiative of the two behemoths - I believe they are the wrong player and there are a heck of a lot of other solutions in other businesses that do well. All is not lost but you will have to think about it. or contact me...


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