Ipagoo: Partnered with IATA to bring a new payment solution called IATA Pay

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Ipagoo: Partnered with IATA to bring a new payment solution called IATA Pay

  • IATA Pay is an industry-supported initiative to develop a new payment option for consumers when purchasing a ticket directly from an airline website
  • Made possible by the European Commission’s second Payment Services Directive (PSD2), and the UK’s Open Banking regulation
  • Regulations encourage use of so-called direct debit transactions in which payments are made from the customer’s bank account directly into the bank account of the merchant
  • Method offers an extremely high level of security to both user and recipient and can be instantaneous.
  • IATA’s role is to develop an industry solution enabling airlines to make this payment option available on their websites
  • For airlines, the advantages of IATA Pay are:
    • Cheaper payment option compared to other alternatives
    • Highly secure
    • Faster cashflow with instant/near instant payment to the merchant
    • Simpler payment process resulting in fewer lost sales