IATA and JR Technologies combine forces to deliver innovative payment solutions

The International Air Transportation Association (IATA) has entered into an agreement with JR Technologies for the development, hosting and operation of the IATA Financial Gateway (IFG) payment solution, which is a turnkey IATA IT solution which will simplify the shopping-to-cash process for travel service suppliers.
The introduction of a universal payment gateway through the IFG will enable members to optimize diverse sales payment processes via a single worldwide platform, irrespective of their network, network partners, or distribution channels. Early adoption of the solution by airlines, Global Distribution Service (GDS) and travel agencies will be facilitated through its integration with the Weblink for agency sales reporting to the IATA Billing and Settlement Plan (BSP).
JR Technologies specializes in NDC-enabled airline retailing solutions. To transition into a modern airline retailing model, a solid payment gateway that expands the scope of airline transactions to include products and services encompassing the whole value chain is needed.
According to George Khairallah, President of JR Technologies, “This is a win-win situation for the entire industry. Our commitment to airlines and all travel suppliers is to continually offer innovative solutions at a speed to match the constantly evolving marketplace. Travel suppliers expect nothing less and that’s what IFG and JR Technologies will deliver.”
“The IATA Financial Gateway will offer an innovative and cost efficient solution to address the airlines’ payment challenges through their different distribution channels. It will help them optimize their payment processes and facilitate acceptance of different forms of payments including the BSP agency sales settlement through a single global platform,” said Aleks Popovich, IATA Senior Vice President, Financial and Distribution Services, adding: “IATA’s objective, with the support of JR Technologies, is to go beyond the scope of airlines. This in turn will trigger cost efficiency, improve risk management and maximize resources to bring cost-saving benefits for the entire industry.”