Payments technology company Flutterwave has partnered with the International Air Transport Association (IATA) to simplify payments for airlines serving the African continent. This collaboration will enable airlines from around the world to process payments from customers in sub-Saharan Africa using a wide range of payment methods available on Flutterwave’s platform.
The integration of Flutterwave with IATA’s payment orchestration platform, known as the IATA Financial Gateway (IFG) will enable airlines operating in Africa to accept local payments from various markets through all their distribution channels. With the partnership, IATA’s network of about 290 international airlines can seamlessly expand their operations in Africa while receiving bookings and payments from customers using both local and international payment methods.
Traditionally, airlines and travel agencies had to navigate complex connections to multiple payment service providers in Africa to accept payments from customers. This process was not only time-consuming but also challenging to manage. However, with the IFG integration, these entities can now leverage Flutterwave’s services to accept payments in different forms when customers book airline tickets. The IFG offers a single global connection that grants full control over the payment and settlement processes, streamlining integration with ticketing systems and distribution channels.
The partnership between Flutterwave and IATA is particularly beneficial for global airlines seeking to collect payments in local currencies through cards and indigenous payment methods.
Flutterwave CEO Olugbenga “GB” Agboola, CEO, and Founder of Flutterwave noted that according to IATA, Africa is projected to be one of the fastest-growing aviation regions in the next two decades, with an annual expansion rate of nearly 5%. To further accelerate this growth, he emphasized the importance of enabling airlines to easily establish operations across the continent and seamlessly receive payments from their customers. Agboola believes that the partnership with IATA addresses the payment challenges faced by global airlines venturing into Africa and hopes that it will encourage more airlines to expand their presence on the continent.
Muhammad Albakri, Senior Vice President of Financial Settlement and Distribution Services at IATA, welcomed Flutterwave’s participation in the IATA Financial Gateway. Albakri emphasized that the IFG supports the availability of new payment options in various markets, and the partnership with Flutterwave will bring secure and innovative payment methods to airlines, travel resellers, and the traveling public in Africa.
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