UATP, the global payment network that enables organizations to simplify payment processes and expand their payment capabilities, has announced a new partnership with Klarna, the AI-powered global payments network. The partnership allows airlines to offer Klarna’s flexible payment services, including interest-free Buy Now Pay Later, providing customers with more flexible payment options for travel products and services.Â
UATP’s collaboration with Klarna represents the convergence of two highly successful payment technology companies, with mutual benefits on the horizon. Klarna gains immediate access to UATP’s vast base of airlines and travel agencies and is a preferred BNPL partner for EU and APAC.Â
The $1 trillion air travel sector is a key growth opportunity for Klarna because credit cards account for 70% of retail travel payments. This leads to high costs for airlines, who spend $20bn a year on payment processing, and massive interest payments for consumers. Wherever…
