WASHINGTON, Nov. 29, 2016 /PRNewswire/ -- UATP announced today that it is partnering with contactless payment specialist, Paymagnet, to supply Member airlines with the capability to accept contactless card payments directly within an airline's mobile app on any NFC-enabled smartphone.
"This strategic alliance provides UATP Merchants with Paymagnet's anti-fraud approach to accept mobile In-App card payments tailored to the airline industry," Paymagnet´s executive director, Martin Glettler M.Sc., stated. "The initial focus of the partnership will be to work with Low Cost Carriers in Europe, where in some areas contactless payment penetration is up to 40-50%." Any transaction that can be processed on a POS system can now be completed on a smartphone with Paymagnet. The client simply taps a credit card towards the smartphone's NFC sensor, and then Paymagnet scans the card, validates it and processes it instantly. Since a physical card must be present at payment, travelers are protected from stolen card number fraud.