Cryptocurrencies filter into the travel industry

Many travel agencies and airlines are exploring various initiatives that allow them to adopt innovative technologies as payment methods that facilitate the purchase of airline tickets. From ticketing in NFTs or the integration of payment gateways with crypto. Tourism companies are looking at different forms of blockchain technology as an unexplored niche that they can integrate into their digitization processes.

source: https://actualidadaeroespacial.com/vueling-la-aerolinea-europea-mas-puntual-en-2021/

For example, last June 16, the airline Vueling announced an alliance with the cryptocurrency payment gateway BitPay that will allow users to purchase their airline tickets in 13 different cryptocurrencies. However and only for the moment this option will be available to individuals, but it is expected that by 2023 it will be open to the public through its website.

Another recent case is that of the airline Ávoris which declared that they are evaluating the risks and opportunities of integration with cryptocurrencies together with their financial advisors.

source: https://www.preferente.com/noticias-de-agencias-de-viajes/avoris-el-nuevo-nombre-de-viajes-barcelo-270117.html

This is a very important step for the sector, since one of the main current frictions to be solved is to offer payment with different currencies on their websites, so this would be an opportunity to involve such an innovative technology that allows users to use a currency of universal value such as cryptocurrencies.

The adoption of this type of payment method, even now that they are not 100% regulated by financial entities, is considered to represent a breakthrough for the tourism sector, since it provides freedom to the customer, opens borders, and allows anyone anywhere in the world to take advantage of its services and promotions.

However, the use of this technology could bring some setbacks. For example, a large amount of electricity that the blockchain requires to operate in an industry that some years ago began a crusade to offer a greener and more environmentally friendly service. While on the other hand, the volatility in cryptocurrency prices could make it look like an overly complex process.

The use of virtual currencies as payment methods in different industries has more penetration and has become a reality. The tourism sector does not have to be the only one that does not join this important digital transformation. However, there is still a long way to go to see it materialize.