Standard Chartered: Partnered with IATA to launch IATA Pay in India

February 28, 2022

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Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

Standard Chartered: Partnered with IATA to launch IATA Pay in India

Standard Chartered announced it has partnered with the IATA to launch IATA Pay in India
IATA (International Air Transport Association) represents some 290 airlines comprising 83% of global air traffic
IATA Pay, which is already available in several European markets, is an airline industry payment platform
The service leverages the Unified Payment Interface (UPI), a domestic real-time payments scheme in India
IATA Pay will be a new payment option that enables participating airlines to offer instant payment options
This new service will simplify the payment process for the consumers, streamline the collection and settlement process for airlines