Visa’s global payment and fraud management platform Cybersource is joining the International Air Transport Association (IATA) Financial Gateway (IFG) to help airlines streamline commerce and payment efficiencies, according to a press release emailed to PYMNTS on Thursday (Nov. 4).
Cybersource and IFG will also help airlines manage fraud, maximize revenue and innovate at a faster pace. The move is an effort to assist the airline industry will getting “customers back on board” while also safeguarding passengers, branding and revenue. For the IATA’s more than 290 airline members, Cybersource’s global capabilities are “now available as a pre-integrated, secured digital acceptance tool.”
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Fernando Souza, vice president of Cybersource, a Visa solution, said Cybersource is already a partner to some of the world’s biggest airlines. As a member of IATA, it will make its full suite of payment tools available to IFG.
“As travel rebounds, airlines need to support domestic and cross-border travel, while containing costs and mitigating fraud. Cybersource’s platform provides tools and resources to ensure airlines can provide a smooth and secure experience for customers, while maintaining profitability,” Souza said.
The new partnership gives airlines access to the full suite of Cybersource products on IFG, which eliminates the need for them to work with multiple brands and products. The integration also saves money and reduces operational delays.
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With Cybersource, airlines can also save time when moving into new regions and easily integrate new payment options or sales channels. When partnered with IFG, Cybersource’s products aim to give airlines an “enhanced, unified omnichannel orchestration experience to meet consumer demands,” the company said.
Cybersource partners with over 70 airlines, including 28 of the top 50 global airlines, offering online and in-person payment services.
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