An on-line voucher management system which provides a user interface for travel agents, carriers and online customers to create and redeem vouchers is provided. The on-line portal has access to the GDS which stores PNRs. The voucher will be created as a standard PNR containing a fictitious air itinerary and its associated ticket data. Users specify the voucher amount and other required information through the user interface, and a PNR holding that information is created in the GDS. The PNR is then ticketed as for a standard booking process. Then voucher redemption is managed as a typical PNR reissue process.