- 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:
a. ICICI Bank
b. Standard Chartered Bank
c. Federal Bank
d. Deutsche Bank