Emirates partners with Deutsche Bank on industry payment solution
Emirates has announced the launch of Emirates Pay, an account-based payment method for purchasing air tickets. Emirates Pay is now available for customers in Germany and the UK who are purchasing tickets via the airline's website. It is the world’s first airline to launch this payment alternative powered by a white-label solution jointly developed by the International Air Transport Association (IATA) in partnership with Deutsche Bank.
"The launch of Emirates Pay not only sends a very positive message to all of us that the airline industry is putting COVID behind, but more importantly that Emirates is clearly focused on improving client experience at the transactional level when moving into a brighter, post COVID world," commented Christof Hofmann, global head of Corporate & Payment Solutions at Deutsche Bank.
Emirates Pay is an alternative method for travellers to pay for air tickets purchased online by directly debiting their bank account. It is based on real-time payments and Open Banking/Request-to-Pay schemes. With this new solution the airline provides all the necessary account and payment information and passengers approve the payment initiation via their online or mobile banking. For airlines, the new payments solution offers a cost-competitive payment alternative with faster settlement times, supporting enhanced airline liquidity as well as reduced payment fraud.
Danske Bank adjusts investment products to bring sustainability to the fore
Danske Bank has announced that it is adjusting its investment products so both institutional and personal customers can more readily invest sustainably. To accommodate the rising demand for sustainable investment products, the bank is adjusting six Danske Invest index funds so they now comply with article 9 of the EU’s Sustainable Finance Disclosure Regulation (SFDR). The index funds will therefore invest in activities that contribute to solving the climate challenges and creating a more sustainable society.
"We have adjusted our investment products because we are keen to make it easier for our customers - both personal and institutional - to invest in the green transition," said Thomas Otbo, chief investment officer at Danske Bank. "All of the six funds track the EU Climate Transition Benchmark. This means that companies are selected or excluded in a way that ensure the funds help reduce climate impact and contribute to the green transition."
As well as facilitating sustainable investing, Danske Bank is also expanding its range of environmental, social and governance (ESG) investment products with two index funds, so there will be more than 90 ESG funds in all that customers across Danske Bank’s markets can invest in.
ESG investment products are Danske Invest funds that promote ESG characteristics by, for example, investing in companies focused on the climate, labour relations, diversity or anti-corruption. These products thus comply with article 8 of SFDR, which came into force on 10 March this year. The new EU regulation provide the financial sector with clear definitions of what may be termed as sustainable or ESG investment products.
Transfix and TriumphPay partner on freight payment processes
Transfix, a transportation solutions provider, has announced a partnership with TriumphPay, a carrier payment platform. The partnership will enable Transfix to enhance the payment process for freight carriers by allowing them to post-load payments in a straightforward and more manageable way.
The new partnership allows carriers to streamline existing processes and eliminate accounting friction, and gives them the ability to view the status of their payments 24/7, without making a call. Additionally, carriers can manage and submit invoices online and upload paperwork for both factors and brokers to a connected dashboard.
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