Karachi: Standard Chartered Bank (SCB) Pakistan recently introduced a customized IATA EASY PAY solution specifically designed for the Pakistani market. This initiative aims to enhance the BSP ticketing and payment processes for IATA Agents across the country by enabling them to pre-fund their IATA EASY PAY accounts. These accounts will facilitate the issuance of airline tickets and additional air travel-related services.

According to Standard Chartered Bank, the solution leverages the bank’s open APIs and virtual account/ledger capabilities to ensure efficiency and transparency from the onboarding of agents to the settlements with airlines. It is designed to reduce credit risk and provide an additional payment channel for IATA Agents, while simultaneously improving the liquidity of airlines through quicker settlements.

Shiraz Hyder, Head of Transaction Banking at Standard Chartered Bank Pakistan, commented on the development by highlighting the bank’s dedication to creating innovative digital financial solutions that cater to the specific needs of their clients. He emphasized the bank’s commitment to supporting operational efficiency in the air travel industry, allowing it to focus on its core business.

Feroze Jamall, IATA’s Country Manager for Pakistan, noted that the new IATA EASY PAY solution serves as an additional payment method for the country’s travel agent community when issuing tickets through the BSP. He stated that the collaboration with Standard Chartered Bank has enhanced the service offering for the Pakistani market, thereby better supporting the business operations of travel agents.

To promote awareness and effective usage of this solution among IATA agents, Standard Chartered and IATA have scheduled roadshows in Karachi, Islamabad, and Lahore.