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UATP puts contactless card payments on the runway

29 November 2016  |  2326 views  |  0 Source: UATP

UATP announced today that it is partnering with contactless payment specialist, Paymagnet, to supply Member airlines with the capability to accept contactless card payments directly within an airline's mobile app on any NFC-enabled smartphone.

UATP is a global travel payment network. UATP accounts are actively issued by 15 member airlines and accepted as a form of payment for corporate business travel by more than 200 airlines worldwide. Airlines currently issuing UATP accounts include Aer Lingus, Air New Zealand, Alitalia, American Airlines, Austrian Airlines, British Airways, Continental Airlines, Delta Air Lines, Japan Airlines, KLM Royal Dutch Airlines, Lufthansa German Airlines, Qantas Airways, Ltd., Scandinavian Airlines System, ...

UATP is a global travel payment network. UATP accounts are actively issued by 15 member airlines and accepted as a form of payment for corporate business travel by more than 200 airlines worldwide. Airlines currently issuing UATP accounts include Aer Lingus, Air New Zealand, Alitalia, American Airlines, Austrian Airlines, British Airways, Continental Airlines, Delta Air Lines, Japan Airlines, KLM Royal Dutch Airlines, Lufthansa German Airlines, Qantas Airways, Ltd., Scandinavian Airlines System, ...

"This strategic alliance provides UATP Merchants with Paymagnet's anti-fraud approach to accept mobile In-App card payments tailored to the airline industry," Paymagnet´s executive director, Martin Glettler M.Sc., stated. "The initial focus of the partnership will be to work with Low Cost Carriers in Europe, where in some areas contactless payment penetration is up to 40-50%."

Any transaction that can be processed on a POS system can now be completed on a smartphone with Paymagnet. The client simply taps a credit card towards the smartphone's NFC sensor, and then Paymagnet scans the card, validates it and processes it instantly. Since a physical card must be present at payment, travelers are protected from stolen card number fraud.

"UATP connects airlines to alternative forms of payment brands across the globe; by adding Paymagnet, we enhance our portfolio and are able to offer contactless payments, which is only expected to continue to increase with the recent European mandate that all POS systems must have contactless payment acceptance capability by 2020," noted Ralph Kaiser, UATP's President and CEO.

Paymagnet takes pride in offering the most intuitive, personal and secure mobile NFC interface that allows merchants to accept payments from anywhere with a smartphone. Earlier this year, Paymagnet was listed as a BBVA Open Talent 2016 finalist, an award dedicated to recognizing innovative technological projects that influence the financial industry.

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