Paysafe and Shelby Financial partner to safeguard US airline payments

Thursday 30 September 2021 11:49 CET | News

Paysafe has partnered with escrow solutions provider Shelby Financial Corporation to further strengthen its ‘safeguarding’ acquiring solution for US airline ticket payments.

Against the backdrop of the COVID-19 pandemic’s destabilising impact on the travel industry, Paysafe in July 2021 rolled out its safeguarding trust model for airline tickets payments on the traditional approach of tying up airlines’ liquidity with their banks to cover the high risk of these transactions. Already adopted by various European carriers, Paysafe launched the solution in the US last month through a partnership with ARC, the Virginia-based provider of settlement services for airline transactions initiated through travel agencies in the US and global data solutions.

Paysafe’s new partnership with Shelby Financial, whose escrow services are compliant with US Department of Transportation requirements, consolidates the safeguarding model’s availability for American airlines. Now, when a US airline partner of ARC or standalone carrier integrates with Paysafe’s safeguarding model, Shelby Financial will safeguard travelers’ ticket payments in a trust until pre-agreed terms are met and funds are then released in full to the airline. 

Shelby Financial’s risk mitigation expertise will complement Paysafe’s ability to allow airlines to offer travelers an extended choice of payment methods for direct sales. These include online credit or debit card payments, Paysafe’s eCash solution, and more than 100 other alternative payment methods.

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Keywords: escrow, Paysafe, partnership, digital identity, risk management, payment methods
Categories: Fraud & Financial Crime
Countries: United States
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Fraud & Financial Crime

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