Food, Wine & Travel in Style


Could the Travel Industry Pioneer Alternative Payments?

  • Written by News Company

People will only begin to see the benefits of cryptocurrency and methods of alternative finance when they affect their lives. This comes in many forms, including when these payment methods become readily available. For example, The Metropolitan Hotel became the first location for a Bitcoin ATM in Sydney. Not only does this set them apart from competitors in the present, but it shows their commitment to the future of finance and consumer choice.

While it is a small step for alternative finance going forwards, could the travel industry become known for alternative methods of finance?

Changing Finance in Travel

E-wallets are a signifier of this move towards alternative payment methods. In China, for example, 49% of its digital travel spend comes from e-wallets. Some experts suggest in the US, by 2025, these methods could surpass the credit card. Smartphone payments are also on the rise. Many suggest this could be due to the extra authentication needed for using them. Indeed, many have thumbprint or facial recognition features. Most people who use e-wallets or alternate methods of payment do so because of the security factors built into their designs.

The ability to offer alternative payment options also gives travel a feeling of greater luxury and helps elevate it. First Class lounges could experience these methods faster, for example, and they could be used as a way for airlines and hotels to show their commitment to technology and their grasp on the current trends. As cryptocurrency is considered a high-value asset class, being able to spend the currency could be a mark of extravagance.

One of the main benefits of certain alternative finance options, such as e-wallets, is the way they simplify things. For those travelling to a wide range of countries in one trip, sifting through money and currency could add hassle. Instead, a quick fix through an e-wallet could allow for seamless financial interaction across borders.

As these methods are used by banking institutions to proliferate cross-border payments, it makes sense that they could be used for travellers when they want to expedite their crossing of borders.

Rise of Alternative Payments

It’s not just the travel industry that is embracing a multitude of different payment methods. Retail stores are increasingly expanding how they will accept payment. This comes as some e-wallets and methods are proven to be quicker and safer than some more traditional methods. Etsy, for example, allows its retailers to offer a variety of payment methods. Outside of retail other industries are also using this technology. Those wanting to choose an online casino site can go for more varied payment methods than they could before, with many sites offering Skrill and Neteller as payment options. This gives customers more variety and helps sites that allow more methods of deposit and withdrawal to use this as a point of differential advantage over competitors.

The travel industry benefits due to the interconnect global nature of it – so any trends in some countries may come more quickly to those lagging. Should international tourists, for example, suggest for these alternative payment options, then they may be more likely to be made available to the travel industry on the whole.

Introducing limited edition Baileys Cinnamon Churros Flavoured Liqueur

Globally award-winning Baileys Cinnamon Churros Flavoured Liqueur has landed in Australia, fusing the iconic dessert with its classic Irish whiskey and...

5 Important Places to Travel in Australia for Adventure

Australia is an island continent in the Pacific Ocean, and it's known as one of the best places to visit in the world. Australia might be right up your...

Introducing limited edition Baileys Cinnamon Churros Flavoured Liqueur

Globally award-winning Baileys Cinnamon Churros Flavoured Liqueur has landed in Australia, fusing the iconic dessert with its classic Irish whiske...

What's open this Easter

IshizukaBasement, 139 Bourke Street, Melbourne, 3000Good Friday, CLOSEDEaster Saturday, CLOSEDEaster Sunday, CLOSEDEaster Monday, CLOSEDAnzac Day...

Rock Salt: The Essential Seasoning And The King Of Ingredients

In the winter, rock salt is often used to de-ice roads and driveways, but it may also be used in the kitchen. Using water, rock salt is extracted ...

6 Portable Cooking Equipment Pieces You Can Use for Outdoor Cooking

By leaving all your personal possessions behind and taking only what’s necessary, camping can be quite a liberating experience. However, there’s o...

7 Easy Meals to Make with Flatbread

Flatbread is an incredibly versatile type of bread, perfect for both savory meals and sweet desserts. Not only can you use flatbread as a tasty re...


Are you seeking to improve your overall fitness level and performance? A healthy, well-balanced diet is equally as essential as frequent high-inte...

Brisbane’s Top 5 Bars for NRL Viewing

Brisbane has a long and decorated association with the NRL, and the city’s sole team in the nation’s top league also happens to be one of the most...


SkyFeast at Sydney Tower is reverting to buffet with unlimited seafood and more  If your family has ever starved before an all-you-can-eat buffet...

Celebrate all things cocktails and bars with Australian Cocktail Month this May

Prepare to immerse yourself in a celebration of cocktails from 1 – 31 May with the launch of Australian Cocktail Month. Held across Brisbane, Sydney...


Iconic premium gin will be first major brand made with 100% sustainably-sourced botanicals After decades spent carefully building sustainable par...

Writers Wanted

Content & Technology Connecting Global Audiences

More Information - Less Opinion