IATA Names Standard Chartered Bank as Easypay Partner

IATA (International Air Transport Association) has mandated the Standard Chartered bank to manage the payment flow within the aviation ecosystem under EasyPay.

International Air Transport Association has named Standard Chartered Bank as one of its IATA EasyPay service providers in India. This initiative is expected to enable greater payment flexibility to travel agents, says the lender.

IATA EasyPay is a new payment method that assists in streamlining the payment flows within the aviation ecosystem.

EasyPay is based on 'pay-as-you-go' and is a secure alternative to traditional billing and settlement plan payment methods (cash or credit card) that are available to all the IATA accredited agents in India.

The lender has stated that it has been investing heavily in innovating and enhancing the applications digital capacities.

The Application Programme Interface (API) based EasyPay would identify the travel 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.

Additionally, this option would be a voluntary program, as some agents could eliminate or cut down the need for issuing bank guarantee to secure the tickets and offer a seamless settlement of funds, said the lender.

Apurva Jain, Head, Cash Products and Transaction Banking, India and South Asia, Standard Chartered Bank says, “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 welcomed Standard Chartered Bank's participation in IATA EasyPay. Furthermore he says that the platform would support India's travel agents with a new payment option, providing greater flexibility to the community.