WASHINGTON, March 2, 2017 /PRNewswire/ -- UATP announced today that it is partnering with the Swedish FinTech company Trustly, enabling airlines to easily accept instant online bank payments for ticket purchases across Europe.
The partnership between UATP and Trustly gives travellers the flexibility to purchase airfares using their preferred bank account, directly from an airline's booking platform. This new service lowers the airline's cost of distribution, eliminates fraud risk and limits chargeback risk for airlines, and ultimately simplifies airlines direct selling proposition.
"Trustly is delighted to partner with UATP to offer airlines a leading European bank payments option," said Oscar Berglund, CEO at Trustly. "In response to customer demand, Trustly allows travellers to pay directly from their bank accounts. It is simple and secure which helps drive conversion rates and reduce booking abandonment."
"This partnership will help UATP's member airlines gain a competitive edge by giving travellers access to a widely preferred payment method in Europe," said President and CEO, Ralph Kaiser of UATP. "Trustly currently covers 29 countries and is connected to more than 190 banks. Because of their broad reach with banks across Europe, airlines in this region will be the focus of the UATP/Trustly partnership."
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, DataStream℠ and DataMine℠, 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; Air Canada (TSE:AC) Air New Zealand (ANZFF.PK); Air Niugini; American Airlines (NASDAQ: AAL); APG Airlines; 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 Lufthansa German Airlines.
Founded in 2008, Trustly Group AB is a Swedish FinTech company that makes online banking e-payments fast, simple and secure. The company offers cross-border payments to and from consumer bank accounts at 190 banks in 29 European markets and connects businesses and consumers within e-commerce, travel, gaming and financial services.
FinTechCity London predicts Trustly will revolutionize the financial services sector and in 2016, the newspaper Dagens Industri awarded Trustly a Gasell award for being one of Sweden's fastest growing companies.
Trustly has 150 employees and is headquartered in Stockholm, Sweden, with regional offices in Spain, Malta, Germany and the UK. Trustly is a licensed Payment Institution under the supervision of the Swedish Financial Supervisory Authority. Read more at www.trustly.com.
UATP Corporate Communications
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