The Role of Fintech Innovations in Streamlining Airline Ticketing and Payment Systems
DOI:
https://doi.org/10.56472/ICCSAIML25-150Keywords:
Fintech, Airline Ticketing, Blockchain, Digital Wallets, Payment Systems, AI, Fraud PreventionAbstract
Fintech innovations have significantly transformed the airline industry, particularly in ticketing and payment systems. This paper explores the integration of financial technology to enhance efficiency, reduce costs, and improve customer experience. By leveraging blockchain technology, artificial intelligence (AI), and digital wallets, airlines can offer seamless transactions, minimize fraud, and enable flexible pricing strategies. The study analyzes current trends, challenges, and future prospects in the fintech-driven airline ticketing ecosystem. The integration of blockchain technology ensures secure, transparent, and tamper-proof transactions, thereby reducing fraud cases and enhancing data integrity. AI-driven dynamic pricing models enable airlines to adjust ticket prices based on demand patterns and customer behavior, optimizing revenue management. Additionally, digital wallets and biometric payment systems provide passengers with faster and more convenient payment options, improving overall customer satisfaction. The mixed-method approach adopted in this research combines qualitative case studies of major airlines that have successfully implemented fintech solutions with quantitative analysis of transaction speed, customer satisfaction, and cost reduction. Primary data is gathered through surveys and interviews with passengers and airline financial teams, while secondary data is sourced from financial reports and industry whitepapers. Analytical tools such as SPSS and blockchain monitoring systems are employed to assess the correlation between fintech adoption and operational efficiency. The findings reveal that fintech innovations have led to a 40% reduction in transaction times, decreased fraud cases, and increased customer satisfaction through mobile wallet integration and loyalty program participation. This paper highlights the key success factors, operational challenges, and future prospects of fintech adoption in the airline industry, providing valuable insights for stakeholders aiming to enhance their ticketing and payment systems through advanced financial technologies
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