Wipro Works with Travacoin to Build an Effective Crypto Payment Solution
Wipro, which has been established as an information technology company, consulting, and business processing platform, has just announced that they have developed a payment solution based on the blockchain.
The payment solution is being referred to as the Travacoin, one that will specialize in digital payment systems. The system will allow airlines to be able to quickly compensate and refund the passengers promptly in the event of a disruption.
With the use of Travacoins to compensate the passengers, the airlines will be able to reduce the overall administrative costs. And from what save they can channel it to offer their client base a much better flying experience.
The System Will Save On Costs and Keep Customers Happy
The passengers will be notified promptly in case there is a delay or cancelation; once this is done, they can get refunded with the digital currency. With this money, they will be able to use the coins to repurchase airline tickets, get other travel related services or even book for their hotels.
The system will benefit both parties, as the passenger will enjoy the reduced time it would take to get a refund. And once they get the refund, they can spend the coin in several places, such as retails stores or just around the airport. While the customer is satisfied, the airline can enjoy reduced administrative costs.
The FTI Consulting company conducted a recent study, one that was commissioned by Travacoin on the commercial feasibility in the use of digital coins as a refund, it found that the currency will be able to save airlines about 20-40% on what they have been paying the passengers. As a result, with this system, it will be able to increase customer loyalty as there is improved convince during delays.
The Wipro company has several services it offers its client base; this is the likes of implementing blockchain technology, consulting, providing clients with strategic advisory, and many more. It is a company that has committed itself to provide healthy blockchain communities, while still developing the current talent and building on having high technology.
‘’Travacoin is a unique solution to a common problem faced by the airline's industry today. With every delay, be it caused by a staff strike or a technology problem, comes an increasing number of claims from passengers. Airlines respond defensively, consequently losing customer loyalty as well as millions in hard currency along the way. This solution offers airlines a cost-effective way to reconnect with their passengers in a positive way, turning adversity into opportunity. As we expand, the plan is to grow the solution to encompass other payment and settlement functions, turning Travacoin into a unique payment solution for the entire travel industry. Wipro’s deep domain know-how of the industry processes, blockchain expertise, and ability to rapidly co-innovate and scale-up the solution has been critical to our success.”
Brian Whelan, Chief Executive Officer of Travacoin