Airlines to launch payments system to rival credit card groups

www.ft.com

A frontal assault on credit card companies is being launched by the global airline industry and Deutsche Bank with a new electronic real-time payment system for plane tickets that seeks to save carriers billions of euros in transaction fees. The new system for web-based ticket sales to individual passengers, which does not have a brand name yet, is scheduled to be rolled out across Europe from the end of 2018, with Germany as the first market.

Key will come down to integration + adoptions, it's easy to maintain a ledger of payments between a group of third parties if everyone is in the network, but gets incredibly difficult if entities are outside the network. Case in point, correspondent banking is a complete mess with every bank having a nostro account at every other bank.

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