TravelNewsAsia.com
Fri, 19 July 2019

Worldpay Becomes a Leading Acquirer on IATA Financial Gateway

Worldpay (UK) has joined IATA’s Strategic Partnership Program and become the largest global acquirer to connect into the IATA Financial Gateway (IFG).

By joining the Fintech and Payments Services Strategic Partnership Program, Worldpay will contribute to the creation of IATA policies and regulations on behalf of its member airlines.

The company brings 25 years of airline payments experience to consult on compliance with regulations (e.g., PSD2 and Strong Cardholder Authentication), diverse payment methods, the passenger payment experience and trends within the travel space.

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Through this partnership, Worldpay will become the largest global acquirer to integrate with the IATA Financial Gateway (IFG). The initiative enables payments across web, mobile, MOTO (mail order telephone order), NDC (New Distribution Capability) and PCI-DSS compliant chip and pin terminals. It also supports IATA’s ambitions to create a unified gateway, allowing airlines to increase their payment diversity and acceptance while improving performance across all distribution channels. For passengers, this means a consistent payment experience across all airlines’ touchpoints throughout the entire passenger journey.

Thomas Helldorff, Vice President for Travel & Airlines, Global Enterprise eCommerce at Worldpay said, “We are really excited to enter this Strategic Partnership program with IATA and collaborate on some key initiatives. The better we are aligned, the more we can help the airline industry to harness the power of payments and utilize it as a strategic advantage. We want to bring that innovative edge to the table for our clients, as well as relieving some of the operational burden that the complexities of our industry can pose.”

As well as its strategic partnership, Worldpay will also support the upgrade and rollout of IATA’s new, consistent, global Billing and Settlement Plan (BSP) file format (DISH23). With pre-integration in over 100 BSP countries, Worldpay will be able to help airlines consolidate their local BSP acquiring relationships into one global account. This will give airlines the benefit of simplified contracting, reporting, reconciliation and streamlined service and support processes while allowing regional airline offices to remain in control of the incoming funds.

Aleks Popovich, IATA’s Senior Vice President, Financial and Distribution Services said, ”The IATA Financial Gateway is intended to reduce the complexity of connecting to different payment systems, helping airlines and travel suppliers to optimize their different sales payment processes through a single global connection. By becoming a Strategic Partner, Worldpay is helping to enable this important transformation.”

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