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
