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The aviation industry has been one of the curious discoveries this year as a high-potential market for technology innovation – payments, biometrics, and more. A little over a month ago, the aviation technology company SITA reported that three out of five airports and two out of five airlines are investing in innovative biometric technology[1] to improve speed and security as passenger numbers continue to rise at a staggering rate, with the number of annual fliers set to almost double to 7.8 billion by 2036.

“Efficient identity management is essential for better security while at the same time improving the passenger experience. Biometrics is the technology that can deliver this. Moving to single-token identity management where passengers can simply use their biometric, such as their face, at every checkpoint on their journey will speed passengers securely through the airport.” – Sean Farrell, Director of Strategy & Innovation, SITA

Over half (63%) of airports and nearly half (43%) of airlines are planning to invest in biometric ID management solutions[2] in the next three years.

Most recently, airlines have been eyeing the payments component of the whole travel experience too. Javier Orejas[3], Head Banking America, Europe, Middle East, and Africa (IATA), shared the prospects of the international air transportation industry launching its own, industry-wide payments scheme in close cooperation with Deutsche Bank in an effort to bring down the costs associated with having to run payments through networks. Cutting out the middlemen not only will result in significant savings but promises a better experience for travelers, who can manage their travel arrangements with banks directly.

Pick #1. Airlines to Launch Payments System to Rival Credit Card Groups

Read more from our friends at Let's Talk Payments:

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The Logo Story

currensceneFLOGO WHTsquareThough not the oldest form of currency, some form of shell money appears to have been found on almost every continent. The shell most widely used worldwide as currency was the shell of Cypraea moneta, the money cowry.

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