Sabre Holdings and Amadeus, leading providers in global travel distribution and technology, have filed with the European Commission for antitrust approval to create a joint venture that will provide secure, automated payment processing, clearing and reconciliation solutions to the global travel industry.

The intent of the joint venture is to establish an industry standard solution to improve and better meet the requirements of the travel industry with payment efficiencies, increased automation, and improved interoperability. The joint venture plans to focus on the non-air segments of the industry such as hotels, cruise, tour, car and rail. The joint venture will integrate the existing financial instruments already used by the travel industry into a best-in-class multi-channel, multi-GDS platform, which will allow travel industry players to effectively manage all aspects of their payment needs in a flexible, easy-to-use solution.

More information on the joint venture solution will be available upon approval of the venture.