Flutterwave, has achieved a major milestone in the airline industry. Today, the Pan-African fintech company announced, it is now on the International Air Transport Association’s (IATA) payment orchestration platform. This initiative allows airlines worldwide to process payments from customers, providing a seamless and secure payment experience. The partnership offers numerous benefits for global airlines, passengers, and the growth of the airline industry in Africa.
With Flutterwave’s inclusion in IATA’s payment orchestration platform, airlines and travel agencies can now accept various forms of payment when customers book their airline tickets. The platform supports payment methods such as cards, bank transfers, mobile money, and other indigenous payment options available through Flutterwave.
By eliminating the need for multiple complex connections to payment service providers in Africa, Flutterwave hopes to simplify payment processing for airlines, allowing them to focus on delivering exceptional travel experiences.
A major advantage of this integration is the ability for airlines to accept payments in local currencies, facilitating transactions through familiar and preferred payment methods. Passengers can conveniently pay for their flights using their preferred cards or mobile money solutions, reducing the barriers associated with cross-border payments. By offering a diverse range of payment options, Flutterwave empowers passengers with flexibility and ensures a hassle-free travel experience.
Flutterwave’s presence on IATA’s payment orchestration platform also addresses the challenges faced by global airlines entering the African market. By providing a seamless payment infrastructure, Flutterwave would encourage more global airlines to consider expanding their operations in Africa. The ability to process payments in local currencies and through indigenous payment methods simplifies financial operations, making Africa an attractive market for airlines seeking growth opportunities.
The partnership between Flutterwave and IATA brings secure and innovative payment methods to the airline industry in Africa. The integration ensures end-to-end control over payment and settlement processes, enabling secure transactions while seamlessly integrating with ticketing systems and distribution channels. Passengers can have peace of mind knowing that their payment details are protected, and airlines can trust in a robust payment infrastructure that adheres to international standards.
According to the International Air Transport Association (IATA), Africa is set to become one of the fastest-growing aviation regions in the next 20 years with an annual expansion of nearly 5%. Therefore, a way to expand this growth is by making sure airlines can easily set up operations across the continent and seamlessly receive payments from their customers.
Speaking on the partnership, Muhammad Albakri, IATA’s Senior VP, Financial Settlement and Distribution Services, said, “We welcome Flutterwave’s participation to bring secure and innovative payment methods to airlines, travel resellers and the traveling public in Africa.” The IATA Financial Gateway supports the availability of new payment options in many markets.
Flutterwave continues to make it easy to receive money from anyone, anywhere in the world. This week it announced Tuition, a new payment method that makes it easy for students studying in Africa to pay their international fees online using their local cards or any preferred payment option. This used to be a struggle for parents and guardians who faced difficulties in accessing foreign currency from banks. With Tuition, you can easily pay school fees to over 40 institutions in the UK.
