- They have partnered to launch a payment platform for the airline industry.
- The name of the new platform is ‘IATA Pay’.
- The ‘IATA Pay’ will enable an instant airline payment facility.
- It is based on Standard Chartered’s Straight2Bank Pay.
- The IATA Pay in addition to a credit card will work as a new payment option that will allow the participating airlines to offer instant payment options like UPI Scan and Pay and UPI Collect (Request to Pay).
- The IATA Pay will give simplicity to the transaction process by focusing on open banking and real-time payment solutions.
- It will also be made available in European markets which will give promotion to the UPI.
- Static Part:
- HQ of Standard Chartered Bank: Mumbai
Question:
Q.1 In partnership with which bank has International Air Transport Association (IATA) launched a new platform named ‘IATA Pay’?
a. ICICI Bank
b. Standard Chartered Bank
c. Federal Bank
d. Deutsche Bank
a. ICICI Bank
b. Standard Chartered Bank
c. Federal Bank
d. Deutsche Bank
