UAE’s largest airline Emirates has launched Emirates Pay, a new account-based payment method for purchasing air tickets.
It is the world’s first airline to launch this payment alternative powered by a white-label solution jointly developed by the International Air Transport Association (IATA) in partnership with Deutsche Bank, according to the statement.
The solution, which is based on real-time payments and open banking or request-to-pay schemes, allows customers to pay for plane tickets purchased online by immediately debiting their bank account.
“We’re pleased to be the first airline to roll out this new account-based solution for our customers. Our aim is to provide our customers with choice, convenience, and the best possible experiences at every touchpoint. Customers who don’t have a credit card, and those already using direct payments for other purchases, will welcome the simplicity and security of this method when making travel purchases. When it comes to payments solutions, we’ve always kept close to the latest innovations so that we can offer our customers in different markets the most secure and convenient options.”
As per the statement, the new payments solution also provides a cost-competitive payment alternative with faster settlement times, supporting enhanced airline liquidity as well as reduced payment fraud.
Mr. Ole Matthiessen, global head of cash management at Deutsche Bank said, “We are very proud that Emirates, which is widely recognized as one of the world’s best airlines, is the first airline to implement the new payment solution.”
“The launch of Emirates Pay not only sends a very positive message to all of us that the airline industry is putting COVID behind but more importantly that Emirates is clearly focused on improving client experience at the transactional level when moving into a brighter, post COVID world,” added Mr. Matthiessen.