Emirates Becomes First to Launch New Industry Payment Solution in Partnership With Deutsche Bank
Emirates has become the first airline to launch a new direct payment solution in Partnership with Deutsche Bank. The white-label payment solution was jointly developed by IATA and Deutsche Bank and allows direct bank account payment for travel.
On Monday (July 5, 2021), Emirates announced the launch of ‘Emirates Pay’ a new white-label industry payment solution jointly developed by IATA and Deutsche Bank, which allows customers to pay for airline tickets online by directly debiting their bank account via online or mobile banking. Emirates Pay is now available for customers in Germany and the UK who are purchasing tickets via emirates.com. Emirates is the first airline in the world to offer this payment alternative which will offer airlines a cost-competitive payment alternative with faster settlement times, while supporting enhanced airline liquidity and reducing payment fraud.
In Monday’s announcement, 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.”
Also commenting on the new payment solution, Deutsche Bank’s Global Head of Corporate & Payment Solutions, Christof Hofmann, said,
“We are very proud that Emirates, which is widely recognized as one of the world’s best airlines, is the first airline to implement the new payment solution. The launch of Emirates Pay not only sends a very positive message to all of us that the airline industry is putting COVID behind, but more importantly that Emirates is clearly focused on improving client experience at the transactional level when moving into a brighter, post COVID world.”
Emirates Pay is based on real-time payments and Open Banking/Request-to-Pay schemes. For customers, the payment solution addresses the need for more secure and frictionless payment options including account-to-account payments, for which a card isn’t required.