Onyx CenterSource on Tuesday launched OnyxPay, the next generation of its platform connecting hotels and travel agencies.
Onyx said the platform facilitates commission payment with tracking and better visibility while offering an improved user experience.
The new platform, Onyx said, marks "the most significant strategic investment in Onyx's history."
"OnyxPay represents a fundamental shift in how the industry manages commission payments and reflects our commitment to building infrastructure our customers can depend on for the long term," Onyx CEO Scott Gutz said.
According to Onyx's Q2 data, hotel commission payments averaged 41 days, representative of ongoing reconciliation challenges. To combat that, OnyxPay offers transaction-level visibility, grouped-payment tracking and data exports for easier reconciliation. Hotels and agencies can receive payments at frequencies that work for them. The platform also employs AI-assisted entity matching to streamline workflows.
"Our focus with OnyxPay is to make commission payments easier to manage for the people who work with them every day," Onyx chief technology officer Steve Reynolds said. "That means bringing information together, making payment status easier to understand and reducing the manual effort required to resolve questions."
OnyxPay is being introduced with a phased rollout. Existing customers will be transitioned over time. Advisors will access the platform online through a secure portal; agencies will be notified when and how to access the new platform.
Onyx processes more than $2 billion in payments each year. Its network includes more than 150,000 hotel properties and 200,000 travel booking providers in more than 160 countries.