UATP announced today that it is partnering with the Swedish FinTech company Trustly, enabling airlines to easily accept instant online bank payments for ticket purchases across Europe.
The partnership between UATP and Trustly gives travellers the flexibility to purchase airfares using their preferred bank account, directly from an airline's booking platform. This new service lowers the airline's cost of distribution, eliminates fraud risk and limits chargeback risk for airlines, and ultimately simplifies airlines direct selling proposition.
"Trustly is delighted to partner with UATP to offer airlines a leading European bank payments option," said Oscar Berglund, CEO at Trustly. "In response to customer demand, Trustly allows travellers to pay directly from their bank accounts. It is simple and secure which helps drive conversion rates and reduce booking abandonment."
"This partnership will help UATP's member airlines gain a competitive edge by giving travellers access to a widely preferred payment method in Europe," said President and CEO, Ralph Kaiser of UATP. "Trustly currently covers 29 countries and is connected to more than 190 banks. Because of their broad reach with banks across Europe, airlines in this region will be the focus of the UATP/Trustly partnership."