The IATA Financial Gateway (IFG) is a consolidated payment optimization and orchestration solution that enables a unique payment experience across the entire value chain.
Catering to airlines, travel suppliers and travel agencies, IFG strengths include the ability to manage payment through all the distribution channels and passenger journey touchpoints. It assists airlines in transitioning to Modern Airline Retailing and accessing more payment service providers, including industry settlement solutions like the Billing and Settlement Plan (BSP) and Airline Reporting Corporation (ARC) for transactions related to travel agency sales. This also benefits the end consumer.
Moreover, companies can decide when each payment is made, and the form of payments accepted while having the freedom freedom and flexibility to select or change payment partners without any system disruptions. In effect, through IFG, they can self-manage their payment strategy and determine all relevant criteria. The objective is to enable companies to be more customer centric by offering the most convenient payment method to the consumer and ensure the highest sales conversion rate while minimizing cost.
“IFG is at the helm of forward thinking, modern retailing, and payments,” says Doreen Maiteri, Program Manager, Kenya Airways. “I would recommend any seller to make IFG their payment provider of choice.”
The number of airlines, payment providers, payment methods, and currencies covered by IFG continue to
grow. Moreover, two new features have been introduced, card tokenization and 3D Services. Card tokenization allows users to store card details for future sales or subscriptions, improving the user experience and customer retention. With 3D Services, airlines and travel merchants can comply with different regulations and reduce risk and shift liability in the case of fraud.
“IFG is not only about lowering the cost of sales but also about increasing the sales conversion rate and allowing airlines and travel merchants to regain control of their payment lifecycle through all the channels on a single platform,” says Hoy Chin Yeoh, IATA’s Director Industry Financial Services. “IFG is the only platform fully dedicated to aviation and travel industry. It has been designed to meet the payment needs of all business models and sale channels.”
Explore how IFG empowers payment orchestration and can help your organization drive growth through seamless, optimized payments.
