Hot 25 Travel Startups for 2023: Aeropaye

Aeropaye is an e-payment platform for airlines and travelers and an automated on-demand blockchain-based refund engine for delayed or cancelled flights, regardless of when the cancellation is made and who is doing the canceling, voluntary or involuntary.

Our core mission is to enable airlines to maintain a steady cash flow and to cut the cost of credit card payments and the millions of dollars in annual revenue lost to travelers on refund claims.

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• Startup Stage: Aeropaye uses blockchain to automate airline refunds
  

  Founder Mustapha Tijjani

Strategic goals for 2023
Our strategic goal on the refund infrastructure we’ve built for airlines/travelers, and instant FX settlement. We aim to make airline credit card payment cost and travelers refund claims flexible to safeguard the long-term implication on airlines and help to build their reputation and trust with travelers in favor of the need for airlines survival on cash flow.

We also want to finalize an investment round, securing funds so we can actively grow fast and furious and onboard more airlines, OTAs and TMCs on our distributed ledger technology and partner with industry experts to expand and grow faster.

We aim to enable airlines to capture the value from payments, with our instant blockchain-based low-cost settlement, the billing and settlement plan between stakeholders on our platform will make the end-to-end payment journey seamless.

There are billions of dollars in airline retailing value at stake. Our solution will help airlines redefine their payment strategies and remain competitive to avoid further disintermediation due to the cost attached to credit card payment. This represents an opportunity for airlines to lower cost, boost revenue and improve customer experience by making the payment journey more convenient.

Lessons learned since founding
Thousands of flights are cancelled, millions of dollars for refunds have faded into oblivion and airlines on their own ends are ignoring laws to keep the money.

Aeropaye is cash flow sensitive. Currently most airlines don’t recognize revenue on ticket sales until the airline service is actually provided for the passengers to fly. Cash flow is key toward solving refunds. Airlines prefer travelers receive an alternative to cash, which is the reason some airlines make the process of receiving refunds confusing. It’s a model most of the airlines think is insoluble before we present our refund infrastructure, in all our encounters.

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