UATP (Universal Air Travel Plan) launched settlement solution in India

UATP (Universal Air Travel Plan) has officially launched a groundbreaking settlement solution in India, marking a major milestone in global travel payments.

Key Highlights of the Launch
- Local Currency Settlement: UATP now enables airlines and other ticketors to settle transactions in Indian Rupees (INR), simplifying payment processes for domestic and international travel businesses operating in India.
- Strategic Incorporation: UATP is now formally incorporated in India as UATP India Private Limited (UIPL), with an office established in Mumbai.
- Fintech Partnerships: The solution is powered by collaborations with licensed Indian fintech companies, ensuring regulatory compliance and seamless integration.

Industry Impact
- Efficiency & Flexibility: Airlines and travel brands can now receive payments in INR, reducing currency conversion costs and enhancing financial stability.
- Market Potential: India’s travel market is projected to reach $97 billion by FY2030, with corporate travel alone expected to double to $20.8 billion, making this solution timely and strategic.
- CEO Statement: Ralph Kaiser, CEO of UATP, emphasized that INR settlement is a “key capability” for partners doing business in India, offering competitive advantages in one of the world’s largest aviation markets.

Who Accepts UATP?
UATP accounts are accepted by major travel providers including:
- Airlines like American Airlines, Delta, United, Air Canada, Turkish Airlines, JetBlue, Qantas
- Travel agencies and platforms like MakeMyTrip, Hopper, Fareportal, Wego

This launch positions UATP as the first and only global payment network to offer this kind of settlement in India, paving the way for broader adoption of localized financial solutions in the travel industry.