KARACHI: Standard Chartered Bank (SCB) Pakistan has implemented an improved IATA EASY PAY solution tailor made for the Pakistan market to streamline BSP ticketing and payment processes for IATA Agents in Pakistan.
This closed-loop solution enables IATA Agents to pre-fund their IATA EASY PAY accounts which will be used to issue airline tickets and additional air travel-related services.
Standard Chartered and IATA have planned roadshows in Karachi, Islamabad, and Lahore for the awareness of IATA agents on using this solution effectively.
SCB’s open APIs and virtual account / ledger capabilities drive end-to-end efficiency and transparency from Agent onboarding to Airline settlements. It reduces credit risk and offers an additional payment channel for IATA Agents. This will also significantly boost the airlines’ liquidity due to faster settlement.
Shiraz Hyder, Head of Transaction Banking, Standard Chartered Bank Pakistan has said that this modified IATA EASY PAY solution underscores commitment to delivering innovative and efficient digital financial solutions tailored to the unique needs of our clients.
Standard Chartered is focused on providing seamless support to drive operational efficiency so that the air travel industry can deliver on its core business with ease, he added.
“IATA EASY PAY is an additional payment solution for Pakistan’s travel agent community when issuing tickets via the BSP. Working with Standard Chartered Bank has allowed us to improve on the service offering for the Pakistan market. This will better support the business of travel agents in Pakistan,” said Feroze Jamall, IATA’s Country Manager for Pakistan.
Copyright Business Recorder, 2024
Comments
Comments are closed for this article.