PENSACOLA, Fla. – March 20, 2020 Coflyt has announced the addition of payments technology to their software, bringing to users the ability to manage payments within the
same platform they are currently using to communicate management of aircraft flight logs, inspections, maintenance schedule and bookings.

“Imagine scheduling an aircraft, heading to the airport and taking it out for a flight, then immediately being able to pay for that flight time within a partnership or flight club, all in the same app on your phone” says Tal Clark, Coflyt CEO and co-founder. “That is the innovation Coflyt has brought to the general aviation space!”

Clark and several other members of the Coflyt team have experience in the Fintech Industry and recognized the opportunity to streamline the flying experience by integrating payments technology for aircraft management. “The financial technology space has been one of the top
segments for venture capital over the last five years,” says Clark, “but much of that technology has not been used within the aviation space. We plan to continue to deliver features via Coflyt that will improve the flying and ownership experience across the board.”

At launch the payments management tool allows partners, flight clubs and flight schools to set up an account where payments for aircraft usage can be paid directly within the Coflyt app using any credit or debit card. The organization responsible for the aircraft can set fixed monthly contribution amounts as well as details on whether it is a wet or dry hourly rate based on Tach or Hobbs methods. Admins also have the ability to define access and payment rates, invoice and collect payments for multiple users as well as track group expenses related to the aircraft.

The next major release slated for the payments module will include capabilities for bill pay and ACH transfers into the account.

###

For more information on the payments management feature: https://bit.ly/33Fpr0f

ABOUT COFLYT®: Coflyt is an intelligent aircraft software that provides peace of mind by streamlining communication for aircraft owners, partners and flying clubs. Developed by pilots, Coflyt enables aircraft owners to centralize flight logs, track and share flight maps, analyze aircraft usage, show aircraft availability, automatically send logged status updates to A&Ps, simplify payments and more! Know exactly when aircraft maintenance is needed, access real-time usage data, and ensure compliance – all from the palm of your hand. Download Coflyt on the App Store or Google Play. For more information visit www.coflyt.com.