Many of our customers know us as Onyx Payments. Some became our clients through the acquisition of Net Trans Services and Worldwide Payment Systems in 2014. We appreciate your loyalty to those brands, which is a tribute to their innovative platforms and exceptional service.
Today we are officially unveiling our new name: Onyx CenterSource, which better reflects our ongoing development as a company that serves both hotels and travel agents. While it is time to retire the NTS and WPS brands and move forward under Onyx CenterSource, you will continue to benefit from the people, products and services associated with these legacy platforms.
• As the Onyx business evolved from primarily issuing commission payments on behalf of hotels to also serving the commission recovery needs of travel agencies, the descriptor “payments” was no longer fully representative of our suite of offerings. We now serve both agents and hotels to create what we think of as a “virtuous circle,” improving the relationship between hotels and agents and helping to make hotels more commission-friendly, which in turn encourages agents to book those properties more often – a true win-win for the hospitality ecosystem.
• Additionally, we are developing new services that complement our core commission payments capabilities but are broader in scope. For example, we recently introduced InvoicePro for travel agencies, which provides a comprehensive invoicing solution including the application of VAT. We also offer PayRoute, which can facilitate the distribution of merchant pre-payments from OTAs and brand.com websites as a cost-effective alternative to virtual credit cards. For these reasons, we aspired to a brand descriptor that spoke to our expanded product offerings as well.
The name Onyx CenterSource reflects the feedback we received from customers. You told us that ours is a unique position, facilitating and easing complex financial transactions and key relationships between hotels and travel agencies in the hospitality industry. And you told us that we are a source of data that helps you “close the loop” on your commission transactions, providing insight into your business through the data we provide.
We believe that we are just scratching the surface of the value we can bring to you, and so we are working diligently to provide you with more visibility and transparent access to data, more actionable insights, and best practices to improve your business performance.
Thank you for your continued trust in us. We are committed to bringing you even more valuable product offerings and services in the months and years to come.
Mark Dubrow (CEO)