The online travel company Travala has partnered with the travel agency Agoda to accept cryptocurrency at over 600,000 new locations. A partner with Binance, Travala now has over 2.2 million properties that accept 30 different cryptocurrencies, including Bitcoin and BNB.
Mainstreaming Crypto Payments
Already a partner with Expedia, Travala’s deal with Agoda introduces millions of travelers to using cryptocurrencies as payments. In speaking with CoinDesk, CEO Juan Otero revealed that there is an intense desire for travel. This wanderlust could be due to “COVID Fatigue,” afflicting those quarantined for extended periods. Travala revenue is up $400,000 this year, with most of it coming from cryptocurrencies.
Travala expects to see a similar boost in bookings after working with Agoda. The VP of Strategic Partnerships at Agoda, Damien Pfirsch, is confident the integration will be mutually beneficial.
“Agoda’s technological expertise and private cloud ensure that partners enjoy best-in-class uptime connection to our supply for a smoother customer booking journey.”
This partnership between cryptocurrency and hotel reservations is not a new idea. However, it is curious to watch as Travala rewards its customers with a blockchain token, AVA. The AVA token was launched in 2018 and traded sideways until recently when it reached nearly $2.00.
Allowing users to speculate and buy its rewards token on an open market is a gamble, but appears to have paid off this far. The token value has shot up nearly 2,000% since its lows, representing many flights and hotel stays when redeemed on Travala’s website.
Other companies may be following in these footsteps. A 2016 report by Deloitte (free to download) called blockchain rewards “. . . an ideal remedy for what ails loyalty rewards programs.” Most recently, HashCash Consultants is deploying corporate solutions to move their legacy rewards onto the blockchain. Aside from delivering customer rewards, the program’s design is too encourage interaction between consumers and their respective brands.
It may be prudent to keep an eye open for other companies adopting blockchain technologies for its rewards programs.