PayNode is the world's first payment service provider created specifically for the global business aviation industry. It's free to sign up and anyone in the industry can use it once they have been set up (as it's a financial service there is some simple admin that we need to complete to get you up and running).
Whilst PayNode is the solution that users interact with, all financial administration and processing behind the scenes is managed by our partner Multi Service Technology Solutions, Inc. (MSTS), who specialize in closed-loop payment programs and transaction processing. Your financial information and all funds are held securely by MSTS only, we don't see them. This is to ensure the safest, most risk-free experience for all parties.
Using it is simple - your whole payment process can be completed in just a few clicks that take less than a minute. Watch the video below to see how.
Enter trip details and send the payment request to the payer.
The payer receives an instant email notification and pays through our secure, easy to use cloud-based payment platform.
PayNode holds the protected funds until you confirm services rendered on the first leg of the trip, limiting disputes and chargebacks.
Funds will be in your bank account the following day. It’s fast, easy and secure.
PayNode reduces the time spent processing one transaction from the current average of 30 minutes to 60 seconds. It simplifies cross-border payments independent of location, currency and transaction value. PayNode also reduces the risk of exposure, protecting customer payment details with regulatory-compliant data security and minimising the risk of chargebacks.
PayNode offers a lower fee than the competition
PayNode simplifies back office processes
PayNode provides a secure end-to-end payment system to minimise risk of exposure
Find answers to some common questions about PayNode, our partners and our services below.
Avinode transformed the way that business aviation brokers and operators connect and do business, creating the world’s first and leading B2B online marketplace for business air charter. We continue to develop new solutions that help our members do business more efficiently and profitably. The processing of charter payments is an area ripe for improvement: it is inefficient, costly and insecure, placing unnecessary strain on brokers and operators’ businesses, and giving customers insufficient protection of their payment details.
In 2015, Avinode initiated a project to evaluate the payment flow in the business aviation market with the goal of understanding the current hurdles involved in the process. Based on customer input and the realisation that the payment procedure is a true industry pain point, Avinode made the decision to enter the payment space with the ambition to build and launch the first ever payment platform specifically targeted at the business aviation market: PayNode.
Currently, it takes too long for brokers and operators to be paid after a service has been rendered. Using regular credit cards, payment currently takes 3 days in the US; 6 days in the UK; 7 days in the rest of Europe. Using third party Payment Service Providers, it takes 30 days. Payment can be further delayed through the issue of chargebacks and disputes over specific details, which can delay settlement of a whole transaction amount.
Chargebacks are when a payment card holder seeks a refund for all or part of a payment they’ve made using their card. They seek a refund from the card issuer, which in turn seeks a refund from the merchant. Chargebacks can be claimed up to a year after the payment was made.
In business aviation, chargebacks arise most often when the service delivered differed from what was booked, for example if a flight was made on a different aircraft type than the one originally planned, or if catering arrangements did not meet expectations.
Using the PayNode system from start (entering flight details) to hitting ‘send’ to customer takes less than 60 seconds. The buyer can pay as soon as they receive the payment request via email. Settlements are then made after confirmation that services have been rendered, so the money will be in the merchant’s bank account the following day.
No. Any sensitive data is encrypted before being held securely by our partner Multi Service Technology Solutions, Inc. (MSTS), who specialize in closed-loop payment programs and transaction processing. They manage all the financial administration and processing behind the scenes of PayNode. This is to ensure the safest, most risk-free experience for all parties.
The Payment Card Industry Data Security Standard (PCI DSS) is a proprietary information security standard for organisations that handle branded credit cards from the major card schemes including Visa, MasterCard, American Express, Discover and JCB. Any broker or operator accepting payment cards from these issuers is required to have compliant processes in place to ensure that customer card data is securely protected.
No. Although PayNode will be seamlessly integrated into the Avinode Marketplace and our SchedAero aircraft and crew scheduling software system, you will not need to use either system to benefit from PayNode. Non-Avinode/SchedAero users will instead be able to manage their payments via PayNode’s own portal. It is free to sign up to PayNode.
According to Avinode, the average value of a charter transaction is US$35,000.
Have a question we haven’t covered? send it to INFO@PAYNODE.COM