A registered traveler program that allowed members to speed through airport security without waiting in the regular line has ceased operations as of 2 a.m. ET on Tuesday.

The Clear Registered Traveler Program, aka “Clear,” which was launched in 2005 by entrepreneur and former journalist Steve Brill, had about 165,000 members who paid $200 annually to speed through TSA airport checkpoints after undergoing extensive government background checks.

Parent company Verified Identity Pass has stated that it was “unable to negotiate an agreement with its senior creditor to continue operations.”

Forget the Clear card–save time when you fly with America’s Best Alternate Airports.

Verified’s announcement acknowledges that it cannot issue refunds to members because of its financial woes. It’s still unclear whether the company will declare bankruptcy, which means clients would become creditors, or whether subscribers will be rolled over to another registered traveler service.

The Clear program launched at Orlando International Airport in 2005 and expanded to about 20 airports around the country. Its competitor, FLO Card, is now the largest registered traveler program in the country.

By Sarika Chawla for PeterGreenberg.com.

Read more on PeterGreenberg.com:

Additional TSA Security Measures: Progressive or Oppressive?

Wondering Should I Become a Registered Traveler?

Learn more about Security of the Future.

Related links: Fly Clear.com, USA Today, Wall Street Journal, Wired