In 2024, IATA and Edgar Dunn & Company estimated that airlines processed approximately USD 977 billion in payments, at a cost of USD 22.2 billion. At this scale, payment choices need to be managed deliberately. And that starts with recognizing that there is no single one-size-fits-all solution.
In this blog Nick Careen, Senior Vice President, Operations, Safety & Security, highlights airlines cannot view payments solely as a cost. Passengers are using an increasingly diverse range of payment methods. While physical cards still dominate, options such as instant payment and digital wallets are growing rapidly. If an airline does not offer a passenger’s preferred payment method, it risks losing the sale.
That is why IATA has developed Airline Payment Framework – Management Foundation to help management teams look at payment options.