Standard Chartered, IATA tie up forh payment platform for airline industry
Global banking group Standard Chartered on Thursday said it has partnered with the International Air Transport Association (IATA) to launch a payment platform for airline industry in India.
In addition to existing payment options such as credit cards, IATA Pay will be a new payment option that enables participating airlines to offer instant payment options such as UPI Scan and Pay and UPI Collect (Request to Pay), Standard Chartered said in a statement.
The service, which is already available in several European markets, leverages the Unified Payment Interface (UPI), a domestic real-time payments scheme, thereby enabling consumers to instantly pay for airline tickets from their bank accounts, it said.
