An online travel agency website known as Travala adopts Binance Pay for settling its payment invoices by customers who wish to pay in cryptos. After the launch of the newly developed Binance Pay system, Travala has now become the very first business entity to accept crypto payments through the system.
Travel is an online website involved in the business of providing booking services globally relating to travel and accommodation. It has over half a million properties worldwide at its disposal where the travelers/tourists can obtain bookings for accommodation. Founded in the year 2018, Travala soon started to compete with globally renowned websites such as Booking.com. However, in order to rise above the competition, Travala adopted digital innovation by integrating cryptocurrencies as payment.
Recently, the company has announced that it has adopted a crypto payment mechanism supported by a leading crypto exchange, Binance.
It was on 2nd February 2021 that Binance had launched a newly built payment solution system called Binance Pay. Binance claims that the system is highly secured, efficient and contactless as well as can be used for executing borderless transactions. Adoption of Binance Pay will allow Travala customers to use each and every feature of the system, though for the time being it is a beta version. However, Travala customers can pay for their boarding & lodging expenses by using Binance Pay within and outside the country of their visit.
Since many of its customers are already members of Binance, therefore, Travala’s customers would not need to sign-up for any new accounts. Instead, account holders of Binance can pay the crypto funds directly through their accounts maintained with Binance. Travala has informed that it is open to receive crypto payments through five major cryptocurrencies. The cryptocurrencies acceptable as payment at Travala are Bitcoin, Ethereum, Binance’s ICO &stablecoin, and Swipe. The company also accepts payments in the form of fiat currencies such as Euros as well as US Dollars.
Later on Binance’s CEO, Changpeng Zhao also endorsed the adoption of Binance Pay by Travala. Zhao tweeted that Binance is indebted to Travala because it was Travala which became the first merchant to use Binance Pay.
Meanwhile, an executive of Travala commented that his company is always willing to explore new subtleties within the crypto space. He added that Travala’s mission is twofold i.e. to ensure digital currency’s adoption and allow its customers to travel freely.
Brief Intro about Binance Pay
Binance Pay is a payment mechanism application developed by the globally renowned crypto trading platform, Binance. It is a downloadable application that can be accessed through any Android or iOS-based mobile phone anywhere in the world. It is designed to connect digital wallets of crypto owners with their accounts maintained with Binance. Any Binance user can then settle his or her Travala’s invoices by using Binance Cards.