Deutsche Bank Partners with Airlines Industry to form Payments System

Deutsche Bank has partnered with the International Air Transport Association to develop an industry wide payments solution; they hope to new system will save the 1 to 3 percent charged by Visa and Mastercard; they plan to charge a fixed fee that will be a matter of cents per transaction; Shahrokh Moinian, global head of cash products at Deutsche Bank, tells the FT “For us, it’s an opportunity for change. We have asked ourselves: Why can’t we behave like a tech company?” Source.