eGlobalfares, Western Union Create ‘Payment Gateway’

An agreement between eGlobalfares and Western Union Business Solutions will create a new online global payment solution for the international air travel market.

eGlobalfares allows travel agents to search and compare airline ticket prices in six different currencies via an integrated display. The company also named Western Union Business Solutions as its exclusive foreign exchange payment provider to assist eGlobalfares clients in securing competitive currency rates when purchasing airline tickets in markets around the world.

David Rifkin, chief executive officer of eGlobalfares and a former travel agency owner, said the new payment solution, called Payment Gateway, will give agencies the advantage of knowing the price of tickets in their local currencies during the booking process, instead of having to wait for a bank or other entity to calculate the exchange rate and associated costs after the purchase is completed.

Payments can be made online from a bank account using local wire, ACH or Direct Debit.

The automated system simplifies the process of buying airline tickets when buyers and sellers use different currencies. Agents can lock in the exact currency rate, speed up transaction times and reduce bank fees, according to Rifkin.

Payment Gateway is currently available to eGlobalfares clients in countries where Western Union Business Solutions offers online foreign payment services, including the U.S., Canada, U.K., Germany, Italy, France, Singapore, New Zealand and Australia.