Flutterwave, Africa’s leading payments technology company, has made a significant stride in transforming the travel industry by joining forces with the International Air Transport Association (IATA). This strategic partnership aims to facilitate travel to sub-Saharan Africa and enable airlines worldwide to process payments seamlessly through a variety of methods, thanks to the integration of Flutterwave with IATA’s payment orchestration platform.
The IATA Financial Gateway (IFG) is an innovative, omni-channel payment orchestration and management platform designed exclusively for the airline industry. With IFG, airlines can now receive local payments from their target markets through all distribution channels. This means airlines can effortlessly expand their operations in Africa and receive bookings and payments from customers using local and international payment methods.
As the world’s largest trade association for airlines, IATA boasts a network of approximately 290 international carriers. Through this groundbreaking partnership with Flutterwave, airlines and travel agencies can now utilize IFG to accept various payment forms when customers book airline tickets. Rather than managing complex connections to multiple payment service providers in Africa, IFG provides a unified global connection with complete end-to-end control over payment and settlement processes. It also seamlessly integrates with ticketing systems and distribution channels, streamlining the payment process for airlines and making it easier for them to cater to their customers in the African market.
Global airlines seeking to collect local currencies through cards and indigenous payment methods will find this integration incredibly advantageous. With Flutterwave’s extensive reach in Africa and other markets, this collaboration makes payments a breeze for millions of customers, while also stimulating further growth in the continent’s aviation sector.
Speaking on the partnership, Olugbenga “GB” Agboola, the CEO & Founder of Flutterwave, expressed his enthusiasm, “According to the International Air Transport Association (IATA), Africa is set to become one of the fastest growing aviation regions in the next 20 years with an annual expansion of nearly 5%. How can we further accelerate this growth? One way is to ensure airlines can easily set up operations across the continent and seamlessly receive payments from their customers. This partnership with IATA solves the problem of payments for global airlines venturing into Africa. We hope that this encourages more global airlines to expand into Africa.”
Muhammad Albakri, IATA’s Senior VP, Financial Settlement and Distribution Services, also lauded the collaboration, stating, “The IATA Financial Gateway supports the availability of new payment options in many markets. We welcome Flutterwave’s participation to bring secure and innovative payment methods to airlines, travel resellers, and the traveling public in Africa.”
The future of air travel in sub-Saharan Africa looks brighter than ever, thanks to this groundbreaking partnership between Flutterwave and IATA. As Flutterwave’s extensive payment solutions merge with IFG, airlines can unlock a wealth of opportunities and enhance their offerings in the African market, benefiting both carriers and travelers alike. With Africa’s aviation sector projected to witness exponential growth in the coming years, this collaboration is set to play a crucial role in propelling the region’s travel industry to new heights.
