The International Air Transport Association (IATA) will launch a payment platform for airline industry in India in collaboration with banking group Standard Chartered.
Already available in Europe, it uses the Unified Payment Interface real-time payments scheme allowing customers to instantly pay for tickets through their bank accounts. IATA Pay in India is powered by Standard Chartered’s Straight2Bank Pay.
IATA Pay will be a cost-effective alternative to conventional payment methods and streamline the settlement process, IATA says.
