Xeni, the Web 3.0 Travel Selling Platform, Partners with FinMont Payment Orchestration to Manage Global Payments
Blockchain-based travel selling platform, Xeni, has announced a new partnership with global payment orchestration platform, FinMont.
NEW YORK CITY, NEW YORK, UNITED STATES, May 18, 2023/EINPresswire.com/ — Blockchain-based travel selling platform, Xeni, has announced a new partnership with global payment orchestration platform, FinMont. The strategic partnership will see the FinMont’s unique global payment ecosystem being utilized by Xeni’s leading selling platform to offer a seamless payment and settlement solution to travel sellers around the world.
Xeni brings travel into the web 3.0 economy. Xeni’s platform powers B2B2C online travel selling for travel clubs, events, influencers, and travel agents, while using blockchain infrastructure to resolve longstanding industry-wide challenges with transaction settlement. Xeni facilitates instant commissions and COGS settlement, secure booking records storage, and auditable access to transaction information to minimize invoicing disputes.
FinMont was recently launched by the founders of German airline Hahn Air to offer the travel industry a unique solution that, unlike others, streamlines both B2C and B2B payments. Combining both payment flows will remove reliance on only one payment provider and historical downtime issues, while also helping decision-makers identify and fix any inefficiencies in their current payment processes.
Xeni has partnered with FinMont’s payment orchestration platform to enable fiat payment and settlement in local currency for its global client base. Recognizing that travelers prefer to pay in their own currency, Xeni aims to address the high cost associated with accepting cross-border payments, which often inflates travel expenses. Travel sellers and vendors also often prefer to be settled in their local fiat currency. Xeni’s collaboration with FinMont is a crucial bridge between Xeni’s 3.0 solution and a seamless fiat payment and settlement process.
Suby Valluri, CEO of FinMont, commented: “We are delighted Xeni has chosen FinMont to facilitate payments for its global customer base. Xeni offers a truly unique solution that utilizes blockchain technology to offer a market-leading service.
Our payment orchestration solution will work seamlessly with Xeni’s proposition to offer a leading B2C and B2B payment solution saving time and allowing customers to pay using their preferred method and currency.”
Sachin Narode, CEO of Xeni, added: “We are delighted to integrate the FinMont payment orchestration platform into our system. Xeni has travel sellers, travelers and vendors on every continent and we require dynamic fiat payment and settlement capabilities. FinMont’s platform will ensure we continue to deliver the best service to our customers and suppliers.”
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Xeni’s white label platform is a B2B solution that powers subscribers to instantly resell travel online to their bespoke audiences. Subscribers can launch their own booking engine, complete with a full suite of bookable inventory at wholesale rates so the seller can earn commissions. Xeni’s infrastructure is built on the Hedera network. Every booking made across the Xeni platform is tracked, stored and settled on the decentralized ledger.
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Hahn Air Lines GmbH launched an innovation lab to address the specific payment needs of the travel distribution faced by the company and later created FinMont GmbH as a separate company to focus on specific travel payment needs. One of the key motivations for understanding the importance of payment orchestration came out in the aftermath of the Wirecard scandal, where the significant risks of being a merchant that relied on a single payment service provider were exposed. The FinMont solution has been developed to address the market need for a payment orchestration platform that solves the specific needs of the travel industry.
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May 18, 2023, 12:48 GMT
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