DBS to launch IATA Pay in Hong Kong, Indonesia, Singapore

Airlines can access up to US$20b in savings from payment processing fees.

DBS has partnered with the International Air Transport Association (IATA) to launch IATA Pay in Hong Kong, Indonesia, and Singapore.

IATA Pay, which is currently active in more than 20 markets, enables travellers to pay for air tickets purchased online by directly debiting their bank account. In turn, airlines can access up to US$20b in cost savings every year from payment processing fees.

ALSO READ: DBS Asia Capital names Lindsay Chu as new CEO

DBS will enable participating airlines to collect payments through a generated Dynamic QR code. DBS Max then enables IATA to receive real-time confirmation of payment when enabling customers to scan and pay from their bank accounts. This is expected to help facilitate easy reconciliation with end-of-day reports.

The solution will be rolled out to Hong Kong in 2022 with roll-outs in Indonesia and Singapore following in 2023.

Follow the link for more news on

DBS

IATA Pay

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Hang Seng Bank to launch RMB counter on 19 June

The bank’s shares will be designated as dual counter securities by the stock exchange.

1 day ago

8-storey building on Kwa Wan Road, Kowloon sells for $1.071b

New Fortress Investment Limited won the auction.

Commercial Property

1 day ago

Office demand to remain subdued in 2023: JLL

Given the situation, rents will likely fall by 3%-5% this year.

Commercial Property

1 day ago

Here are two factors impacting workplace productivity in HK

A report showed that workers will return to the office if they have their dedicated space.

HR & Education

1 day ago

Exclusives

‘Wall-less’ office tears down barriers to collaboration amongst AnyMind’s creatives

The office opens up for employees to collaborate, relax, feed off one another’s energy, and enjoy ‘happy hour’ and ‘mental space.’

21 hours ago

Auction houses thrive on Asian millennials’ art-buying power

Millennials are seen to be particularly drawn to contemporary art as growth for Christie’s, Sotheby’s, and Phillips are highly anticipated in art hubs Hong Kong and Singapore.

1 day ago

Phillips’ ‘minimalist’ HQ showcases diverse collection of Asia’s finest art

The 50,000-square-foot headquarters features a purposely built auction room on the ground floor.

Commercial Property

3 days ago

Hong Kong’s livi bank launches game-changing app for SMEs

Going fully digital on opening accounts and approving quick loans to SMEs raises ‘livi Business’ disbursements to over HK$70m (US$8.9m) as of end-April.