Onyx Payments Acquires Commission Recovery Service

Onyx Payments, a payment processor for hotels and travel distributors, acquired Tønsberg, Norway-based Net Trans Services, a commission reconciliation services company. Dallas-based Onyx claims to be the world’s largest processor of payment disbursement and reconciliation solutions. It said Net Trans is a high growth company with proven technology and a major market share in Europe and the Asia Pacific region. Net Trans also is a preferred commission recovery partner to Amadeus, Sabre and Travelport.

Onyx Payments provides its hotel and travel agency customers with services that include commission receipt and disbursement, foreign currency exchange, invoicing, and reconciliation and tracking. The two companies have served joint customers since 2006. They said the combination will improve data quality, value chain transparency and business intelligence and will serve more than 200,000 hotels and 200,000 travel distributors in nearly 200 countries.