UATP says total charge volume up 23% in 2011

Payment network UATP has achieved record transactions for calendar year 2011 and recorded a 23% year-over-year increase in total charge volume. The company—which counts among its airline customers Air New Zealand, American Airlines, Austrian Airlines, China Eastern Airlines, Delta Air Lines, Japan Airlines, Qantas Airways, United Airlines and US Airways—said it processed approximately $13 billion in 2011. It signed new contract with five airlines: Aeromexico, Malaysia Airlines, Qatar Airways, Shandong Airlines and Turkish Airlines.

"UATP bounced back from challenging times in 2009 and prospered in 2010,” UATP CEO Ralph Kaiser said. “During 2011, through the resurgence of corporate travel and UATP's product diversity, including its new DataStream product suite, we have grown in every aspect of our business.  In fact, we are so optimistic about 2012 that we expect to break these 2011 records."

UATP also saw a 43% increase in its payment processing business, attributing a “significant portion” of the jump to its new DataStream product line. It expects to sign more issuers in the coming year. UATP accounts are accepted as payment for corporate business travel worldwide.