Binance, the world’s largest stock exchange, has started working with TravelByBit to launch a tourism award card. The main goal of the project is to introduce graphic payments on the main travel websites.
TravelByBit is an Australian travel agency that provides tourism to people living in the ecosystem. The TravelByBit Travel Card will be known as “TravelByBit Travel Card” and, according to its creators, will be used on the most popular online booking platforms around the world.
Those who will have a TravelByBit Travel Card will be able to use it as a simple prepaid direct debit. In addition, there will be a huge number of discounts and very attractive travel offers from the Australian travel agency. The TravelByBit Travel Card can be recharged using several altcoins. These include Binance Coin (BNP), bitcoin (BTC), Ontology (ONT), Binance USD (BUSD). This list is due to be extended soon.
How will the TravelByBit Travel Card work in practice?
All the above mentioned cryptocurrencies can be spent on TravelByBit by using a prepaid card and when booking hotels and flights on portals such as Booking.com, Agoda, Ctrip and TravelByBit.com. The card is expected to be available at the beginning of 2020, so it will be available soon. At the very beginning it will be dedicated to travelers belonging to the Association of South-East Asian Nations, Europe and Australia. The owners’ plans show that the presence of these services in other continents of the world will be gradually increased.
Caleb Yeoh, CEO of a travel agency, stated in an interview that “a large number of companies accepting crypto in exchange for offering their products and services, take extremely high commissions from users, which is a big barrier to be overcome when accepting them. At TravelByBit we want to follow a different business model. We want cryptocurrencies to be used by people every day. Encourage the first interested users and very soon you will see how the adoption will increase. I’m happy to see that our partnership with Binance is thriving and that together we can deliver innovative payment systems to travellers from all over the world.
TravelByBit is not the first service that allows you to travel by cryptocurrencies.
TravelByBit Travel Card is not the first card that allows you to travel in a cryptocurrencies. Some time ago, the cryptocurrencies booking company Travala announced that it will soon allow its customers to book any hotel from Booking.com with the use of cryptocurrencies. It should also be mentioned that in mid 2019 the owners of Norwegian Air announced a plan to launch their own exchange, which will significantly improve the acceptance of cryptocurrencies payments by the airline.