KARACHI, PAKISTAN: As a part of strategizing its position in the niche markets, and to opt for the latest technological platforms, Pakistan International Airlines (PIA) is implementing electronic payment services along with fraud prevention solution for booking, reservations and for future services offered by the airline through credit/debit cards, net banking, cash cards and immediate payment service (IMPS) etc.
According to a document, PIA is looking for managed services from commercial banks, financial institutions for provision of payment gateway services along with fraud prevention solution with capabilities of multi-currency payments through debit cards, credit cards and online funds transfer, direct payment and point of sales services.
The solution will have a real time advanced fraud prevention and risk management capability, and in line with the applicable PIA policies and in accordance with Generally Acceptable Accounting Principles (GAAP).
According to the scope of proposed project, it will be integrated with existing banking link networks to enable direct debit facility from bank account through virtual process.
The facility, having an uptime of 99.5% and dedicated connection to PIA data center, will be compatible with both mobile and website.
The system will support multi-currency exchange rates, dynamic currency conversion, and for foreign exchange transactions the system will accept the transaction in the customer’s payment currency and will process the transaction in the mapped currency for the equivalent of that cost for that particular region. Additional settlement currencies can be added at any stage of the contract with mutual consent.