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Onyx Payments debuts new name: Onyx CenterSource

In a blog post on its website, Onyx Payments revealed the company's new name: Onyx CenterSource. Onyx CenterSource is meant to better reflect the company's ongoing development as a company that serves both hotels and travel agents.

The new name was necessary for two reasons. First, 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 its suite of offerings. It now serves both agents and hotels, 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.

Additionally, the company said it is developing new services that complement its core commission payments capabilities but are broader in scope. For example, it recently introduced InvoicePro for travel agencies, which provides a comprehensive invoicing solution including the application of VAT. It also offers PayRoute, which can facilitate the distribution of merchant pre-payments from OTAs and websites as a cost-effective alternative to virtual credit cards. For these reasons, the company aspired to a brand descriptor that spoke to its expanded product offerings as well.

The name Onyx CenterSource is also meant to reflect the feedback the company received from customers. According to the company, customers said it facilitates and eases complex financial transactions and key relationships between hotels and travel agencies in the hospitality industry. And customers said the company is a source of data that helps them “close the loop” on their commission transactions, providing insight into their business through the data it provides.
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