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Standard Chartered appointed as EasyPay service provider by IATA

By Leandra Monteiro

March 17, 2021

  • India
  • Standard Chartered
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Standard Chartered, IATA, EasyPay, India, digital paymentsStandard Chartered Bank has been appointed by International Air Transport Association (IATA) as one of its IATA EasyPay service providers in India enabling greater payment flexibility to travel agents. IATA EasyPay is a new payment method which aids streamline payment flows within the aviation ecosystem.

Based on the ‘pay-as-you-go’ concept, the new payment method provides a secure alternative to traditional billing and settlement plan payment methods (cash or credit card) and is available to all the IATA accredited agents in India. With the aim to simplify the banking approach for customers, Standard Chartered has been investing heavily in enhancing its digital capacities and this solution is a testament of the Bank’s commitment.

Based on Application Program Interface (API), IATA’s EasyPay will identify the travels agents who make the payments in a dedicated IATA EasyPay account with Standard Chartered Bank, India and release the tickets to the agents in real time. This option is a voluntary programme which for some agents may eliminate or reduce the need for issuing bank guarantee to secure the tickets and facilitate seamless settlement of funds.

Apurva Jain, Head, Cash Products and Transaction Banking, India and South Asia, Standard Chartered Bank said, “The Bank has been driving innovation and co-creating digital solutions to improve client experience. This partnership with IATA will allow greater payment flexibility to travel agents by allowing them to continue with their existing banking relationship while making payments through Standard Chartered Bank to airlines with ease and convenience.”

Amitabh Khosla, IATA’s Country Director for India, Nepal and Bhutan said, “We welcome Standard Chartered Bank’s participation in IATA EasyPay, which is supporting India’s travel agents with a new payment option, providing greater flexibility to the community.”

 

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