Standard Chartered tie-up with IATA to roll out IATA Pay for airline industry in India

Standard Chartered tie-up with IATA to roll out IATA Pay for airline industry in India

• UK-based Standard Chartered has partnered with the International Air Transport Association (IATA) to launch a payment platform ‘ IATA Pay’ for airline industry in India.
• The rollout of IATA Pay will enable participating airlines to offer instant payment options such as UPI Scan and Pay and UPI Collect (Request to Pay).
• The service leverages the Unified Payment Interface (UPI), enabling consumers to instantly pay for airline tickets from their bank accounts.
• IATA Pay in India is powered by Standard Chartered’s payment platform ‘Straight2Bank Pay’.

Points to Remember:

1. Which bank has collaborated with IATA to launch IATA Pay in India?
2. Straight2Bank Pay is a payment platform of which bank?
3. Headquarter of IATA – Montreal, Canada
4. Headquarter of Standard Chartered – London, United Kingdom

Source: Business Standard