- Airbnb has partnered with the Fold app
- Through this partnership, customers can make accommodation bookings with bitcoin
- They can also receive cashback for their purchases
Besides the fact that cryptocurrency has become much more prominent on the global stage thanks to projects such as Libra and JP Morgan‘s upcoming token, cryptocurrency has also seen great acceptance in the last few years as a form of payment for everyday goods and services and this helps to not only promote it to a mass audience but to also solidify its place as a means of payment. This has been seen with firms such as AT&T excepting cryptocurrency for their services.
On November 11, 2019, it was announced that customers can now make payments to the accommodation booking platform Airbnb while making use of bitcoin.
Booking with Bitcoin
This new development is made possible through a partnership with bitcoin payment app Fold and the accommodation booking giant and as a result, customers can get 3 percent back in bitcoin when they make bookings on Airbnb using the Fold platform.
Beyond this, Airbnb is now listed under Fold’s rewards section and this means that it supports the Lightning network and will give consumers 3 percent cash back when they make purchases with bitcoin. The program, called Fold kickbacks, offers $25 and $100 gift cards for Airbnb. The Fold kickback program only launched in July 2019 but already supports many large corporations such as Amazon, Uber, and Starbucks. Currently, it operates in certain countries such as the United States and Mexico but they are plans to expand to Europe soon.
Only a few months ago, fold raised $2.5 million to expand their offerings and support fiat currency which means customers can top up their lightning network wallet with fiat or cryptocurrency and spend such funds online and in-store brands. For now, bitcoin is the only cryptocurrency that is used on the Fold platform.
This also shows a growing trend of firms within the travel industry accepting cryptocurrency as payment as Travala enabled the use of cryptocurrency for thousands of hotel bookings in 2018 and as cryptocurrency finds its footing as an everyday method of payment, it seems the travel industry is not being left behind.
