The new payment method Emirates Pay is jointly developed by Deutsche Bank and the International Air Transport Association (IATA)
Deutsche Bank in Vienna – Austria. (Credit: Deutsche Bank AG.)
UAE-based airline Emirates has introduced Emirates Pay, a new account-based payment method backed by Deutsche Bank, for purchasing air tickets.
Emirates Pay is an alternative method that allows travellers to pay for air tickets purchased online by directly debiting their bank account.
Deutsche Bank said that Emirates is the world’s first airline to launch the payment method powered by a white-label solution developed by the International Air Transport Association (IATA) in partnership with Deutsche Bank.
Emirates Pay uses real-time payments and Open Banking or Request-to-Pay schemes.
It enables the airline to provide necessary account and payment information and allows passengers to approve the payment initiation through online or mobile banking.
Emirates chief financial officer Michael Doersam said: “We’re pleased to be the first airline to roll out this new account-based solution for our customers. Our aim is to provide our customers with choice, convenience, and the best possible experiences at every touchpoint.
“Customers who don’t have a credit card, and those already using direct payments for other purchases, will welcome the simplicity and security of this method when making travel purchases.
“When it comes to payments solutions, we’ve always kept close to the latest innovations so that we can offer our customers in different markets the most secure and convenient options.”
The new payments solution is said to provide a cost-competitive payment alternative with rapid settlement times and reduced payment fraud for airlines.
Also, it addresses the demand for more secure and frictionless payment options, including account-to-account payments, which eliminates the need for a card.
The new payment method is currently offered for Emirates’ customers purchasing tickets in Germany and the UK, through its official website.
Deutsche Bank corporate and payment solutions global head Christof Hofmann said: “We are very proud that Emirates, which is widely recognised as one of the world’s best airlines, is the first airline to implement the new payment solution.”
Last month, Deutsche Bank entered into a multi-year collaboration with Oracle to modernise its database technology and advance its digital transformation.