Last year, cryptocurrencies dominated the market, particularly Bitcoin, Ethereum, Axie Infinity (AXS), and The Sandbox (SAND). The decentralized digital currency is expected to be one of the most volatile assets in the economy, with investors eyeing a lucrative 2022.
The message has reached Airbnb, an online marketplace that specializes in lodging and tourism activities. Brian Chesky, the business’s CEO, recently indicated on Twitter that the company has been experimenting with the idea of making digital money a viable payment mechanism.
The Premise of Airbnb’s Decision
This news comes after Chesky recently asked his Twitter followers, “What would you launch if Airbnb could debut anything in 2022?” He revealed that the top request was to include crypto payments in the payment mechanism after a succession of likes, retweets, and over 4,000 ideas.
Many users suggested him to start with Bitcoin, Ethereum, and Shiba Inu. At the moment, most crypto users are having trouble making foreign payments, and only a few major booking sites, such as Booking.com and Expedia, have jumped on board.
Clear pricing displays, updated cleaning rates, a guest reward program, better customer service, and more long-term stays and discounts are among the other suggestions made by Airbnb users. Chesky then stated that he was already working on the majority of them, and that he will check into the other ones. If crypto were to be included to this roster, Chesky claimed that the corporation would be open to a variety of token proposals.
Airbnb’s Plans on Crypto Payment
Airbnb is believed to have received $336 billion in payments since 2013, and takes payments via credit cards, debit cards that are processed as credit cards, and popular digital wallets.
This isn’t the first time the vacation rental marketplace’s CEO has mentioned cryptocurrency transactions. According to reports, he stated, “Like the revolution in travel, there is certainly a revolution going in crypto. The key is when ordinary people grasp how new technology enhanced their lives, beyond the first thrill.” He further added that he is particularly enthusiastic about several applications that ordinary people could utilize to improve their daily lives.
What’s in it for Travelers and Users?
- Hassle-Free Payments:
Traditionally, travelers need to go through a painstaking process to keep their cash ready for stay and other expenses during their travel. However, with the integration of crypto payments, travelers can have a hassle-free payment process regardless of where they are.
- No need to Exchange Money:
This is another tedious task the travelers need to put themselves in each time before they travel to a different country. Most of the time travelers find themselves in a difficult spot trying to figure out the exchange rate of the different currencies to exchange their money accordingly.
- Quick and Absolute Payments:
Traditional payments suffered the problem of unsuccessful transactions. This is primarily due to server issues, latency problems, etc. Crypto payments, unlike traditional payments, are quick, secure, and absolute. This provides absolute peace of mind for travelers in executing their transactions.
- Less need for Multiple Payment Devices:
Every business owner has surely experienced the trouble of having and managing multiple payment processing devices. However, crypto payment eliminates the need for multiple payment devices since it is based on crypto wallets.
- Irreversible Payment:
Most of the times business owners and travelers get into a squabble over an unsuccessful or pending transactions. This puts both the stakeholders in a compromising situation, which is bad for both the business owner and the users.
- Less Transaction Fee:
Transaction fee is another huge problem business owners face in the course of the business hours. Sometimes, it cuts too deep into the profits or even their income. Crypto payments come with less transaction fee ensuring more profitability.
Airbnb is one of the world’s leading rental vacation businesses that is making the next strategic move into integrating crypto payments. RentCubo, an able and robust Airbnb clone script can provide you with the best crypto-enabled Airbnb clone app and help you launch yourself in the hospitality industry.