Pegasus Solutions to Provide Payment Processing to New Online Hotel Distributor Travelweb LLC

"The proliferation of the merchant business model has created another huge efficiency problem for the travel industry. Online room wholesalers now must keep track of and pay each hotel for the rooms it sells on their behalf, creating a back-office headache. And the hotels have to worry about making sure they collect the revenues due them for each room sold via the net rate merchant," said Jeff Bzdawka, senior vice president of Pegasus Financial Services. "We have developed a solution for this new industry problem: the industry's first automated net-rate payment processing service. Without our new service, Travelweb would have to fall back on other less efficient methods of processing payments, such as direct invoicing from the hotel or the use of ghost credit cards, both of which create enormous administrative and reconciliation burdens for everyone involved.