Meeting the growing demand for alternative payment methods, the leading American high-end travel company Skylux Travel has introduced a new digital payment option powered by Triple-A, offering its customers the option to book flights in cryptocurrency. It is a safe solution that enhances the flight booking process and offers next-level convenience to tech-savvy travelers using the most popular cryptocurrencies, including Bitcoin, Ethereum, USD Coin and others. Following the launch with Skylux Travel, Trevolution Group anticipates expanding this initiative to include additional travel brands within its portfolio and projects an annual increase of $50+ million in gross booking revenue from flights purchased using cryptocurrency.
As the global travel landscape evolves, cryptocurrency has gained notable popularity as a payment method, including the billion-dollar “Travel and Hospitality” industry where it is used for booking flights, hotels, and rental cars. The number of global cryptocurrency owners has increased by 6.4% in the first half of 2024, rising from 580 million in December 2023 to 617 million by June 2024.* This payment method is particularly common among younger generations that are more open to new financial technologies – today, millions of people own cryptocurrency in their digital wallets. Therefore, the travel industry is quickly adapting to this increasing demand, with Skylux Travel leading the way in the luxury travel segment.
To book flights using cryptocurrency, Skylux Travel customers select their preferred digital currency at the checkout and complete the payment safely, processed by Triple-A. The exchange rate is calculated based on the flat value at checkout and is locked, guaranteeing that both the buyer and Skylux Travel are protected from any volatility risk. Once the payment is sent and instantly confirmed on the blockchain network, the booking process will be completed, and confirmation will be sent via email, including flight tickets and booking details. Next to traditional credit card transactions, the most popular cryptocurrencies, including Bitcoin, Ethereum, USD Coin and more are accepted. In case customers have any questions about the payment process, Skylux Travel support team is on hand to assist 24/7. By managing the full payment journey, including necessary KYC and compliance checks, accepting digital currency, and handling crypto-to-fiat conversion, Triple-A enables Skylux Travel to channel its efforts into enhancing customer satisfaction.
“With crypto transactions now becoming more popular and providing a high level of security and privacy, we are excited to offer Skylux Travel customers an option to pay for air travel in crypto. Following this launch, we anticipate expanding the scope of crypto-supported payments to include additional travel brands within our portfolio. I strongly believe that this innovation will empower our clients to use their digital assets even more efficiently while enjoying the finest luxury travel experiences they deserve,” Daniel Lei, EVP of Trevolution Group, commented.
“Digital currency adoption within the travel sector is growing, as customers seek flexibility and innovation in the payment options they are offered. Our partnership with Skylux Travel allows us to cater to this demand while setting a new standard for convenience and security in luxury travel,” said Eric Barbier, CEO of Triple-A.
*https://crypto.com/research/crypto-market-sizing-report-h1-2024
Skylux Travel, part of Trevolution Group, is the leading go-to solution for high-end and leisure travelers looking to save on flights while receiving exceptional customer service. Known for offering its customers the best seamless routing and airline combinations and exclusively negotiated rates from over 70 global airline carriers, in 2023, Skylux Travel showed record results exceeding pre-pandemic levels by 51% and selling over 108,000 unique airline tickets. The company’s 40% client return rate is a testament to its commitment to providing outstanding services in the global luxury travel segment.
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