Ipagoo payments flying high with IATA
Ipagoo, the digital bank part of the Orwell Group, has partnered with The International Air Transport Association (IATA) to bring a new payment solution for airline customers called IATA Pay.
IATA Pay is an initiative to develop a new option for consumers purchasing a ticket directly from an airline website.
The solution provides a transaction method for both airline and customer. It can host applications and create new solutions for customers using open banking APIs, within the UK regulations.
Juan Iván Martín, IATA’s head of innovation, financial and distribution services, says: “IATA is creating an open innovation ecosystem to accelerate change in the industry. Doing this requires engaging with partners who can deliver significant value to our industry with speed. Together, we put together a proof-of-concept in a month to enable our industry to benefit from new payment capabilities.”
Ipagoo’s technology provides a multi-country payment service for clients. The live test conducted with ipagoo was completed in collaboration with IATA Pay pilot airlines Cathay Pacific Airways, Scandinavian Airlines and Emirates.
IATA Pay aims to reduce card fraud, the cost of managing it, reduce card fees, improve conversions to sale on airline website and speed up the cashflow to the merchant.