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.”