ARC has revised its method of reporting refund transactions to airlines, which is expected to result in accelerated processing for both cash and credit card refunds.
Previously, refund transactions were reported to carriers in a weekly batch, on the Thursday after agents filed their sales reports.
Under the new system, refund information will be reported to airlines multiple times each week, as is currently the practice with sales data, ARC said.
There is no change to agents’ reporting schedule.
ARC said the change, made in consultation with its airline and agent working groups, will result in quicker settlement of refunds, depending on the day of the transaction.
As ARC explained it, a refund from Monday or Tuesday will now be reported to the carrier on the next Friday, instead of the Thursday following the close of the reporting period.
ARC said it is also looking into possible enhancements for ticket-exchange transactions.