Mystifly: Simplifying the Air Travel Business across 70 Countries on Single platform
Date: Sunday , April 06, 2014
Booking an air ticket for a travel originating from other geographies, was not a cost effective transaction till mid 90\'s. With the advent of e-Ticketing, the travel distribution rules witnessed a change with alterations in distribution model by Global Distribution Systems. With limited access to global airfares, the travel agents encountered number of booking impediments. For instance, Indian travel companies could provide economical airfares for travel originating from India. However, tickets for travels originating from foreign destinations were expensive & not easily accessible. For online credit card transactions, travelers were exposed to currency exchange losses & interbank rates, which appreciated the ticket price with increased uncertainty about the final cost of the ticket. Moreover, there were limited payment options with no option to hold a ticket & pay later. The scenario paved the way for anywhere -to - anywhere global airfare consolidation services company - Mystifly.
Simplifying the Air Travel Business
Rajeev Kumar established Mystifly in 2009, in Bangalore. Mystifly powers travel organizations with an anywhere to- anywhere B2B booking platform - MyFareBox, with the ability to book lowest airfares originating from any part of the world. It enables them to source consolidated & discounted airfares from 900+ airlines across 70 countries. MyFareBox is an intelligent fare management and pricing tool that interfaces multi-GDS (Global Distribution System) content including public, private and market specific air fares. The unique combination of technology and ticketing fulfillment services enhances the value proposition of the service, that Mystifly delivers. With the largest inventory of airfares, travel companies in more than 55 countries have access to a plethora of published, private and market fares across the globe on a unique platform - MyFareBox.
MyFareBox: The Catalyst for Growth
MyFareBox enables sourcing of most economical SOTO/SITI tickets thereby reducing the time required for searching competitive airfares. It saves upto 40 percent on SOTO/SITI tickets including market specific public & private airfares. With an option to hold ticket on time & pay later, it enhances the service quality by providing 24/7 ticketing capability from 900+ airlines across 70 countries. It facilitates ease of payment in local currency through multiple payment options for booking (Bank Transfer, Credit Card, Cheque payments), thereby mitigating the risk due to fluctuation in currency exchange rates.
While MyFareBox is designed for offline travel companies, Mystifly also offers Web service for online travel organizations. \"We are possibly the only organization offering an OTA (Open Travel Alliance) compliant XML web service for anywhere- to -anywhere air travel called OnePoint,\" says Rajeev Kumar, Founder, MD & CEO, Mystifly. Travel companies integrate MyFareBox and OnePoint into their travel booking platform & source lowest airfares from any part of the world. The platform also helps travel agencies to expand their service offerings which cover customers in any part of the world.
Moving Beyond the Horizon
In the industry that Mystifly functions, constant innovation and exceeding expectations are the keys to success. \"We run a live transaction platform that delivers our bread and butter with a required uptime of almost 100 percent. To top it up, the expectation from our technology platform is to deliver search results in the quickest possible time. We evaluate technology keeping our customers\' needs and the promise we make to our customers,\" adds Rajeev. Mystifly\'s culture is driven around constantly improvising and driving excellence in what it does on a daily basis. The company believes in fairness, mutual trust and politeness towards all its stakeholders with an attitude of uncompromising integrity.
Mystifly has three facets of its business: supplier network, customer network and its technology while its people bind these facets together. The company envisions to expand its supplier network from 70 countries to over 100. On the customer side, it wishes to go deeper in the top 10 countries it currently operates. \"We will move to the 5th generation of MyFareBox and will aim to continue surpassing customer expectations. The year will soon see us transitioning our platform to the cloud as well,\" concludes Rajeev.