- The International Air Transport Association (IATA) has rolled out a new payment model for travel agents named EasyPay Scheme.which aims to ease cash flows for airlines.
- Currently, travel agents in India receive seven-day credit to pay airlines for ticket bookings under the IATA’s billing and settlement plan. Agents are required to furnish a bank guarantee to avail credit.
- Under the EasyPay scheme announced today, agents will be able to make payments using a debit card. IATA has tied up with Yes Bank to implement the scheme.
Points to remember:
- EasyPay Scheme has been launched by?- IATA
- IATA has tied up with which bank for EasyPay Scheme?- Yes Bank