Payments News

An Airline Group Is Developing a Payment System That Would Bypass the Card Networks

May 07, 2018

An airline trade group has teamed up with Germany’s Deutsche Bank to develop a payment system that would bypass the credit card networks, potentially saving users billions in interchange.

The proposal comes from the International Air Transport Association, which says it has 280 members representing 83% of air traffic. The group lists its headquarters as Montreal but has executive offices in Geneva, Switzerland.

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