By mid-2024, international travel had returned to nearly pre-pandemic levels, and this growth pushes travel companies to rethink how they operate, especially when it comes to payments.

Customers want more flexibility, speed, security, and global access. That’s where multi-currency and cryptocurrency payment gateways come into play.

Are you in the business of flights, hotels, tours, or luxury experiences? Keep on reading to learn why crypto payments matter in the travel business.

Meeting Customer Expectations in a Global Market

Today’s travelers are global. They book from anywhere, at any time. A customer in Germany might want to book a desert safari in Dubai. Someone in South Korea may want to book a yacht in the Maldives.

Now imagine telling that customer they can’t pay in their local currency. Or that they need to wait days for a wire transfer to clear. That’s how bookings are lost.

With a multi-currency payment gateway, your business removes these friction points. Customers pay in their preferred currency. You get paid faster. Everyone wins!

Why Crypto Is Becoming Popular

Cryptocurrency has become especially relevant in the travel industry. It has become a common practice to integrate a crypto payment processor to support crypto payments.

For example, CheapAir, a US-based flight and hotel platform, has been accepting Bitcoin since 2013.

Travala.com supports over 90 different cryptocurrencies. They reported a 46% increase in crypto bookings from January 2023 to January 2024.

The numbers speak for themselves. A recent survey found that 89% of travelers would choose one airline over another if it accepted their preferred currency.

How Travel Industry Benefits from Crypto Payments

Here’s what accepting cryptocurrency can do for the travel business:

1. Traditional payments may come with delays and high fees. Crypto cuts out the middlemen. Transactions are nearly instant, with low processing costs, sometimes around 1%.
2. It matters, especially for high-ticket bookings like luxury tours or private accommodations. A small percentage saved on each transaction adds up quickly over hundreds of bookings.
3. Cryptocurrency is borderless. It doesn’t care where your customer is or what their local banking hours are.
4. For example, a guest in Argentina booking a ski trip in Canada can pay in BTC or ETH without worrying about exchange rates or cross-border fees. Your business gets paid in real-time, and the customer enjoys a convenient experience.
5. Crypto payments are final. There’s no way to reverse a confirmed transaction on the blockchain, which drastically reduces chargeback risks.
6. In a sector where no-shows, last-minute cancellations, and fraudulent card use can cost thousands, this level of protection is a game-changer.

Let’s take a closer look at the real-world examples of travel companies that integrated cryptocurrency payments:

• AirBaltic accepts BTC, DOGE, BCH, and other cryptocurrencies for most of their flights. It was one of the first airlines to do so. As a result, it saw strong uptake from international flyers who wanted more payment flexibility.
• Pavilions Hotels & Resorts, a luxury hospitality brand, offers crypto payment options for stays in their high-end properties. Guests can book private villas or extended holidays securely and quickly with crypto.
• Sandman Hotels, operating in Canada, the US, and the UK, now lets guests pay with BTC. It gives travelers more freedom to book on the go, without worrying about card limits.

Crypto Payments Expand the Horizons of the Travel Industry

Some travel brands have already experimented even with NFT-based bookings, where digital tickets or hotel vouchers can be sold or transferred. Others develop blockchain-based loyalty programs where points are portable across services. Together, these innovations are shaping what many are calling the rise of crypto for travel industry.

The future of travel payments is digital, fast, and global. Offering multi-currency and crypto options helps travel agencies remove friction, reduce costs, and attract a growing base of customers who expect modern solutions.

In a business where customer experience is everything, the ability to say “yes” to any currency, fiat or digital, is more than a convenience.

If your travel business hasn’t explored these payment solutions yet, now is the time.