Partnerships / Acquisitions

UATP Inks Contactless Payments Partnership With Paymagnet

UATP, the global travel payments network, announced Tuesday (Nov. 29) that it has inked a partnership with Paymagnet, the contactless payments company, to supply its member airlines with the ability to accept contactless card payments within an airline’s mobile app or on an NFC-enabled smartphone.

"This strategic alliance provides UATP Merchants with Paymagnet's anti-fraud approach to accept mobile in-app card payments tailored to the airline industry," Paymagnet Executive Director Martin Glettler said in the press release. "The initial focus of the partnership will be to work with low-cost carriers in Europe, where, in some areas, contactless payment penetration is up to 40–50 percent."

According to the companies, any purchase that can be processed via a point-of-sale system can now be completed with a smartphone and Paymagnet. In order for it to work, the client taps a credit card near the smartphone’s NFC sensor, and Paymagnet then scans the card, validates it and processes the payment.

"UATP connects airlines to alternative forms of payment brands across the globe; by adding Paymagnet, we enhance our portfolio and are able to offer contactless payments, which is only expected to continue to increase with the recent European mandate that all POS systems must have contactless payment acceptance capability by 2020," noted Ralph Kaiser, UATP's president and CEO, in the same release.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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