Travel businesses are starting to offer cryptocurrency as a payment option. While travellers are curious about digital currencies, most remain cautious about using them.
“Cryptocurrency is increasingly being adopted as a payment option,” Dayle White, Financial Controller Treasury at the Flight Centre Travel Group, told Travel News.
“Essentially, cryptocurrency is just another form of payment that will appeal to high-nett-worth travellers that seek privacy. It also can assist travellers with avoiding currency exchange issues and foreign transaction fees.”
According to White, some of the benefits of using cryptocurrency for travel transactions included enhanced security, reduced costs compared with credit card transactions and no rate-of-exchange or conversion costs.
“Cryptocurrency is now a standard currency across the globe,” he said.
Additionally, Gary Mulder, MD of Beachcomber Tours SA, noted that cryptocurrency payments cleared almost instantly.
“For travellers who want quick confirmation without waiting for bank delays, that’s a win,” said Mulder.
Last year, Beachcomber Tours was one of the first tour operators in South Africa to integrate cryptocurrency payment options into its payment system.
Mulder offered Travel News an update on the adoption rates of the new payment solution, revealing that, while South Africans were curious about the new technology, they remained cautious about using it.
“The uptake has been encouraging. It’s still a small share of our overall payments, but interest is growing steadily. Most of the engagement right now is from travellers wanting to understand how it works, whether it’s safe, and what the practical benefits are. So, while not everyone is paying in crypto yet, it has definitely sparked strong curiosity and we are receiving payments in crypto,” said Mulder.
He sees cryptocurrency becoming a credible alternative payment method, especially as more travellers get comfortable with digital assets.
“It won’t replace traditional options but it will sit alongside them – much like contactless payments did a few years ago. As adoption grows, it will become a normal, convenient way to settle travel bookings,” he said.
