Summary of Key Facts
Xeni is a Web 3.0 travel ecosystem that democratizes access of wholesale (net rate) inventory to travel resellers and powers web-based selling. The travel transactions generated on Xeni’s ecosystem will represent a captive market for our blockchain settlement engine. The Xeni ecosystem is comprised of three major elements:
The ecosystem addresses the major pain points in the travel supply chain specifically involving the sale of online travel inventory. These pain points are: accessing wholesale inventory, selling travel online to travelers, account reconciliation, reduction of travel payment fraud, cost, and settlement time. Xeni (travel ecosystem) Xeni’s ecosystem offers benefits to every constituent in a travel transaction, as follows: Travel resellers:
Access to a full suite of travel inventory at wholesale rates
Complete control over their commissions
Ability to receive an instant settlement of commissions
Ability to accept online payments
Ability to offer their travelers a modern, online experience with a no-code solution
Travelers:
High-touch service without paying a higher price vs. published rates
Gain the luxury of having a travel service provider coupled with the convenience of logging in to a modern online travel agency
Travel inventory suppliers:
A new distribution channel to reach more resellers of travel
Reduce their customer service and tech team costs
Receive payments at significantly reduced cost vs. the current virtual credit card-based payment system
Faster settlement: instant settlement once booking becomes non-refundable
XeniPay will be used to track and settle transactions that occur in the Xeni travel ecosystem. XeniPay is built on the Hedera consensus service. The DLT provides an immutable log of activity to track distribution of payments across the supply chain. Once a booking has been completed, the transaction records are logged. Then, the funds owed to each counterparty are settled based on allocations established in the transaction logic.
Last updated
