IATA Financial Gateway (IFG) is a dedicated omni-channel payment orchestration and management platform designed specifically for the airline industry. It empowers airlines to receive local payments from local markets across all their distribution channels. With this integration, IATA's network of 290 international airlines gains the ability to expand operations in Africa while accepting bookings and payments using both local and international payment methods.
The collaboration allows airlines and travel agencies to utilize Flutterwave through IFG, providing them with the flexibility to accept a wide range of payment options when customers book airline tickets. Instead of navigating complex connections to multiple payment service providers in Africa, IFG offers a single global connection that offers end-to-end control over payment and settlement processes, ensuring a seamless integration with ticketing systems and distribution channels.
This integration proves particularly beneficial for global airlines seeking to collect payments in local currencies through cards and indigenous payment methods. It streamlines the payment experience for millions of customers in Africa and other markets where Flutterwave operates.
Olugbenga "GB" Agboola, the Founder and CEO of Flutterwave, emphasized the significance of this partnership in further accelerating Africa's aviation growth. He stated, "According to the IATA, Africa is set to become one of the fastest-growing aviation regions in the next 20 years with an annual expansion of nearly 5%. How can we further accelerate this growth? One way is to ensure airlines can easily set up operations across the continent and seamlessly receive payments from their customers. This partnership with IATA solves the problem of payments for global airlines venturing into Africa. We hope that this encourages more global airlines to expand into Africa."
Muhammad Albakri, IATA's Senior VP of Financial Settlement and Distribution Services, welcomed Flutterwave's participation in the IATA Financial Gateway, emphasizing its contribution to expanding secure and innovative payment options for airlines, travel resellers, and the traveling public in Africa. The collaboration aims to enhance payment processes, drive growth in the aviation industry, and provide improved travel experiences for passengers in the region.