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Standard Chartered Bank partnered with IATA

Published on February 26, 2022
Current Context: The Standard Chartered Bank has partnered with International Air Transport Association (IATA).
Standard Chartered Bank partnered with IATA
  • 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


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

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