WASHINGTON, Nov. 29, 2016 /PRNewswire/ -- UATP announced
today that it is partnering with contactless payment specialist,
Paymagnet, to supply Member airlines with the capability to accept
contactless card payments directly within an airline's mobile app
on any 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´s executive
director, Martin Glettler M.Sc.,
stated. "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%."
Any transaction that can be processed on a POS system can now be
completed on a smartphone with Paymagnet. The client simply taps a
credit card towards the smartphone's NFC sensor, and then Paymagnet
scans the card, validates it and processes it instantly. Since a
physical card must be present at payment, travelers are protected
from stolen card number fraud.
"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.
Paymagnet takes pride in offering the most intuitive, personal
and secure mobile NFC interface that allows merchants to accept
payments from anywhere with a smartphone. Earlier this year,
Paymagnet was listed as a BBVA Open Talent 2016 finalist, an award
dedicated to recognizing innovative technological projects that
influence the financial industry.
For further details visit UATP.com or paymagnet.com
or visit Paymagnet at the Fintech Connect in London, UK ExCeL, Stand 84.
ABOUT UATP
UATP is a global payment solution owned and operated by the
world's airlines and accepted by thousands of merchants for air,
rail and travel agency payments. UATP connects airlines to
Alternative Forms of Payment which can expand reach and generate
incremental sales globally.
UATP offers easy-to-use data tools, DataStreaSM and
DataMineSM, which provide comprehensive account details
to Issuers and Corporate Subscribers for accurate travel
management.
Accepted as a form of payment for corporate business travel
worldwide by airlines, travel agencies and Amtrak®; UATP accounts
are issued by: Aeromexico; APG Airlines; Air Canada (TSE: AC) Air
New Zealand (ANZFF.PK); Air Niugini; American Airlines (NASDAQ:
AAL); Austrian Airlines; China Eastern Airlines (NYSE: CEA); Delta
Air Lines (NYSE: DAL); EL AL Israel Airlines; Etihad Airways;
Frontier Airlines; GOL Linhas aereas inteligentes S.A. (NYSE: GOL
and Bovespa: GOLL4); Hahn Air; Japan Airlines (9201:JP); Malaysia
Airlines; Qantas Airways (QUBSF.PK); Shandong Airlines; Transavia
Airlines; TUIfly GmbH; Turkish Airlines (ISE: THYAO); United
Airlines (NYSE: UAL) and WestJet.
AirPlus International issues the UATP-based Company Account for:
British Airways (LSE: IAG) and Lufthansa German Airlines.
ABOUT PAYMAGNET
PAYMAGNET is an international payment service provider,
specializing in tailored NFC-mobile solutions in EMEA &
USA. Paymagnet invented a new
payment system able to process credit card payments directly
through sensors on a smartphone. This service uses NFC technology
and supports contactless MasterCard and Visa payments without the
need for any adapters or POS equipment. Earlier this year,
Paymagnet was listed as a BBVA Open Talent 2016 finalist, an award
dedicated to recognizing innovative technological projects that
influence the financial industry.
Paymagnet positions itself as a new force in the payments industry,
and built an extensive worldwide acquiring network, so partners and
merchants receive the following benefits:
- An innovative approach, to accept credit cards & debit
cards via smartphones
- A massive backend interface for merchants to receive instant
notifications.
- Competitive processing rates and fast payout
- 24/7 customer support
- A PCI-DSS Level 1 Compliant Environment
- White label API´s and libraries
- Comprehensive account management with real-time statistics and
transaction reports.
Contact:
UATP Corporate Communications
Wendy Ward
wward@uatp.com
+1 202 774 5017
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SOURCE UATP