Visa’s Cybersource and IATA Help Airlines Take Off With New Efficiencies Through IATA Financial Gateway
November 04 2021 - 7:00AM
Business Wire
Hundreds of airlines now have access to the
leading Cybersource global payment management platform through the
International Air Transport Association’s Financial Gateway
As the airline industry works to bring customers back on board,
it is simultaneously challenged with protecting passengers, brand
and revenue. To expedite takeoff, today Visa’s (NYSE: V) global
payment and fraud management platform, Cybersource, announced it
has joined the International Air Transport Association (IATA)
Financial Gateway to help airlines streamline commerce and payment
efficiencies, manage fraud, maximize revenue and innovate at a
faster pace. As part of IATA’s Financial Gateway (IFG),
Cybersource’s global capabilities are now available as a
pre-integrated, secured digital acceptance tool to IATA’s 290+
airline members.
The new partnership enables airlines to quickly provision the
full suite of Cybersource products on IFG, eliminating the need for
multiple products from different brands, saving costs and reducing
operational delays. Plugging into Cybersource’s robust platform can
save airlines time when expanding into new geographies,
implementing new payment methods, or introducing new sales
channels. Together with IFG, Cybersource products seamlessly work
together to help airlines deliver an enhanced, unified omni-channel
orchestration experience to meet consumer demands.
A trusted partner for more than 70 airlines, including 28 of the
top 50 global airlines, Cybersource’s modernized technology
platform offers a complete portfolio of online and in-person
services that simplify and automate payments, including:
- Payment gateway services for the acceptance of online,
in-person and call center payments in over 190 countries and
territories
- Decision Manager, a leading fraud management tool to help
minimize fraud loss and maximize revenue
- Tokenization and more payment security tools, such as Payer
Authentication, to secure sensitive payment data and ensure rules
are compliant
- Pre-integration into the largest global travel reservation and
distribution systems
Amid a challenging year for the airline industry, Cybersource is
helping airlines around the world solve challenges brought on by
the pandemic with leading products and value-added services. In one
example, Cybersource teamed up with a long-standing partner,
Aeromexico, to evaluate their efficiencies and identify threats and
opportunities for their digital offerings. The Cybersource
consultancy team, an added benefit to all Cybersource customers,
was able to assess Aeromexico’s digital ecosystem, evaluate
multiple customer journeys and recommend an e-commerce booking
experience to further deepen loyalty and increase conversion rates,
including payment and acceptance requirements in key sales
markets.
“While Cybersource has long been a trusted partner of top
airlines across the world, we are thrilled to join IFG to offer our
full suite of payment tools to airlines,” said Fernando Souza, Vice
President of Cybersource, a Visa solution. “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.”
Muhammad Albakri, IATA’s Senior Vice President, Financial
Settlement and Distribution Services, said, “IFG enables increased
travel payment processing flexibility for the world’s airlines and
travel suppliers to build a cost-efficient payment strategy that
will help facilitate the industry’s recovery. We are happy to
welcome Cybersource and its suite of products to simplify and
optimize payments to support the IFG user community.”
IATA airline partners who are interested in utilizing
Cybersource can learn more at the IFG website.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments.
Our mission is to connect the world through the most innovative,
reliable and secure payment network – enabling individuals,
businesses and economies to thrive. Our advanced global processing
network, VisaNet, provides secure and reliable payments around the
world, and is capable of handling more than 65,000 transaction
messages a second. The company’s relentless focus on innovation is
a catalyst for the rapid growth of digital commerce on any device
for everyone, everywhere. As the world moves from analog to
digital, Visa is applying our brand, products, people, network and
scale to reshape the future of commerce. For more information,
visit About Visa, visa.com/blog and @VisaNews.
About IATA
The International Air Transport Association (IATA) is the trade
association for the world’s airlines, representing some 290
airlines or 83% of total air traffic. IATA supports many areas of
aviation activity and helps formulate industry policy on critical
aviation issues. Visit www.iata.org for more information.
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Visa: Caylah Novak cnovak@visa.com
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