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.
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, DataStreamSM 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.
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.