Standard Chartered, IATA launch airline payment platform in India

IATA Pay offers instant payment options such as UPI Scan & Pay and UPI Collect.

Standard Chartered has partnered with the International Air Transport Association (IATA) to launch IATA Pay in India.

IATA Pay is an airline industry payment platform leveraging the Unified Payment Interface (UPI), a domestic real-time payments scheme in India, enabling consumers to instantly pay for airline tickets from their bank accounts.

It enables participating airlines to offer instant payment options such as UPI Scan & Pay and UPI Collect (Request to Pay).

This new service will not only help participating airlines avoid bilateral integrations with multiple service providers, but it also eliminates the need to pay an acquiring fee to card acquirers, according to Standard Chartered.

IATA Pay in India is powered by Standard Chartered’s Straight2Bank Pay, a payment platform that helps online merchants digitalise collections via multiple payment options through single global connectivity.

Following the launch in India, Standard Chartered said that it will support the rollout of IATA Pay in other markets.

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