Emirates
“Can the world's largest international airline become the financial and travel-services super-platform for global travelers by embedding payments, insurance, loyalty, and financing directly into its booking and loyalty ecosystem?”
Founded in 1985 as a Dubai government-backed airline, Emirates grew into the world's largest international airline operating to 137 destinations in 72 countries. Over time, Emirates has layered embedded finance capabilities onto its core airline business — launching account-based payments (Emirates Pay with Deutsche Bank/IATA in 2021), embedded travel insurance, installment payment options (Flex Pay), and regional payment partnerships (Cellulant in Africa, Tap Payments in MENA, Alipay in China). The airline's distribution strategy shifted significantly after 2020 with the Emirates Gateway NDC platform, enabling direct B2B API connections for travel agents and reducing reliance on legacy GDS systems.