Cryptocurrencies such as Bitcoin became mainstream in 2010. The
underlying cryptocurrency technology platform allows for anonymous payments
between any two parties, essentially providing a cash-like alternative for the
digital age. Major travel companies such as Expedia began accepting Bitcoin in
2014, but questions remain about this new payment technology: Will cryptocurrencies
such as Bitcoin replace cash in ten years? Will the underlying block chain technology
create a new digital currency for travel products?
Another emerging payment technology from Apple, called Apple
Pay, has gained media focus as well. Will Apple dominate mobile payments with
Apple Pay? How can travel companies prepare for the emerging digital payment
revolution? This article reviews emerging payment technologies and examines their
potential impact on the travel industry.
- What Are Emerging Payment Technologies?
- The Key Components Behind Cryptocurrency
- The Rise and Fall (and Rise Again?) of Bitcoin
- Cryptocurrencies and the Travel Industry
- Mobile Point-Of-Sale Technology
- Mobile Pay – Apple Pay
- NFC vs. Bluetooth