A new partnership between UATP and Paymagnet will enable airlines to directly integrate contactless card payments via smartphone into their mobile applications.
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Contact payment is becoming ever more commonplace, to the point that it will soon be possible at 30,000 feet! Air and rail payment service company UATP has just signed a partnership with Paymagnet, an international payment services provider which has invented a new system which can directly process credit card payments via sensors in smartphones, and which is now available for use by airlines.
Courtesy of Paymagnet, transactions which can be processed on any system at a point of sale can now be made by smartphone. The purchaser simply places his or her credit card next to the NFC (near-field communication) sensor of their smartphone. Paymagnet scans and validates the card, then instantly processes the transaction. The fact that an actual credit card needs to be present at the time of payment ensures that travellers are protected against purchases made using a stolen card number.
"Take-up rate for contactless payment around 40%–50%"
"This strategic partnership gives UATP vendors the benefits of Paymagnet’s anti-fraud approach," explained Martin Glettler M.Sc., executive director of Paymagnet. "It means that they can integrate payments by card that are designed specifically for the airline industry into their mobile applications (...) The initial aim of the partnership will be to work with the low-cost airlines in Europe where in certain areas, the take-up rate for contactless payment is around 40%–50%."
"UATP is hooking up airlines around the world with alternatives methods of payment," added the company’s highly satisfied president and CEO Ralph Kaiser. "Bringing Paymagnet on board has enabled us to improve our portfolio and offer contactless payment – a method which is set to become more widely accepted with the recent European directive which stipulates that all points of sale must be capable of processing contactless payment by 2020."