Wipro Limited, which is one of the leading information technology company today revealed that it has now developed a blockchain based payment solution for Travacoin, a company which is having its specialization in an eponymous digital payment solution. Travacoin is a digital payment system which enables the airlines to refund and even compensate passengers in a timely manner when there is any of the disruptions occurs.
Passengers will even be notified if there is any delay or cancellation and refunded in this digital currency, which can even be used to repurchase airline tickets, book hotels and avail some other airport and travel related services. Passengers will even be benefited by way of a significant reduction in the waiting time for the compensation.
By making compensation passengers with the Travacoin, airlines will be able to reduce all their administrative overheads and channel the saving to provide with better travel experience to fliers.
Brian Whelan, Chief Executive Officer of Travacoin said, “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.”
Wipro has also been recognized as one of the leader company in implementing the blockchain technology for its clients, which even provides the strategic advisory and consulting services combined with a deep portfolio of the industry main solutions. Wipro is also much more committed to creating a strong blockchain community while even developing talent for building some of the extensive technology.