Kora, a payment infrastructure platform, has partnered with the International Air Transport Association's (IATA) Financial Gateway to streamline airline payments across Africa. This collaboration allows airlines and travel agencies using the IATA Financial Gateway to accept payments via Kora, including cards, bank transfers, mobile money, and local alternative payment methods, without the need for multiple complex integrations.
Africa's aviation market is rapidly expanding, with projections of over 300 million new passengers by 2050. However, global airlines have faced challenges such as fragmented payment systems and complex foreign exchange processes when entering African markets. The partnership between Kora and IATA addresses these issues by providing a single connection through the IATA Financial Gateway, granting access to Kora's comprehensive African payment infrastructure.
Dickson Nsofor, CEO of Kora, emphasised the importance of this development, stating, "Africa is not a market to figure out later. It is a growth opportunity that demands serious infrastructure today. Our partnership with IATA signals that the rails are ready."
IATA, representing over 370 international airlines, now offers these airlines direct access to Africa's payment systems through Kora. Kamil Al-Awadhi, IATA's Regional Vice President for Africa and the Middle East, highlighted the benefits, saying, "Kora's participation strengthens our ability to serve airlines operating in or expanding across African markets."
This integration marks a significant step in simplifying payment processes for airlines in Africa, potentially boosting the continent's aviation growth and connectivity
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