ATS Travel to accept Crypto Currency as a Form of Payment - Middle East Business News and Information
The deal agreed with Payhound will see ATS Travel accepting Crypto currency as a form of payment – a first in the Middle East region.
Payhound Partners with ATS Travel to Revolutionize Payment Options with Cryptocurrency
Dubai, UAE – ATS Travel, a premier travel management company, and Payhound, a leading provider of fully regulated crypto payment solutions, are pleased to announce a groundbreaking understanding to enable ATS Travel to accept cryptocurrency as a form of payment for all its services. This new development marks a significant milestone in the Middle East's travel industry, making ATS Travel the first large-scale travel management company in the region to adopt cryptocurrency for both corporate and leisure travel transactions, informed Saleem Sharif, Deputy Managing Director of ATS travel on the sidelines of the travel industry leading event Private Luxury Barcelona, from Private Luxury Events.
Under this historic arrangement, ATS Travel's clients – many of whom are high-net-worth individuals from across the Middle East – will now have the flexibility to pay for a wide range of travel services, including airline tickets, luxury travel, holiday packages, MICE (Meetings, Incentives, Exhibitions, and Events) services, and more, using leading cryptocurrencies such as Bitcoin, Ethereum, and others, informed Sharif. This initiative is poised to be a game changer in the travel industry and reflects the region's growing interest in digital currencies and blockchain technology, added Sharif.
A First in the Middle East:
This collaboration is the first of its kind for a company of ATS Travel's scale and prestige in the Middle East, setting a new benchmark for the industry. With a focus on innovation and forward-thinking business solutions, the understanding with Payhound enables ATS Travel to meet the demands of a tech-savvy, digital-first clientele, particularly those accustomed to high-end services. The implementation of crypto payments is expected to significantly enhance the customer experience by providing seamless, instant, and secure payment options while eliminating the delays and costs typically associated with traditional banking methods, informed Sharif.
Payhound: Pioneering the Future of Payments:
Payhound, headquartered in Malta, is a fully regulated crypto payment provider with a proven track record of supporting businesses across multiple industries, including iGaming, financial institutions, e-commerce, affiliate marketing, and more. The company specializes in crypto payment processing, settlements, and large volume trading, offering businesses a secure and efficient way to accept digital currencies for their products and services. And we are excited about the prospect of collaborating with ATS Travel to facilitate acceptance of Crypto Currency as a Form of Payment for them, informed Melissa Lamb, Director of Sales, Luxury at Payhound.
With a Virtual Financial Assets Service Provider (VFAS) license granted by the Malta Financial Services Authority (MFSA) in 2021, Payhound is one of the first regulated entities in the space to provide these services. Payhound's platform ensures businesses can receive payments in seconds, eliminating the delays that are often associated with traditional banking processes, informed Lamb.
A Strategic Move for ATS Travel:
The strategic collaboration with Payhound aligns with ATS Travel's ongoing commitment to providing innovative solutions to its corporate and leisure customers. Khaled Ghubash, Managing Director of ATS Travel, expressed excitement over the proposed partnership, stating, 'We are thrilled to be the first travel management company in the Middle East to integrate cryptocurrency payments into our services, once done. This arrangement with Payhound reflects our commitment to offering cutting-edge services that meet the evolving needs of our clients, particularly in a region where cryptocurrency adoption is on the rise.'
Ghubash added, 'By offering cryptocurrency payment options, we are not only meeting the demands of high-net-worth individuals and businesses but also positioning ourselves as leaders in an industry that is moving rapidly toward digitalization. We expect this to open new avenues for business and strengthen our relationships with our clients.'
A Bright Future for Digital Payments in Travel:
This association signifies a shift towards more modern, flexible payment solutions in the travel industry, particularly in the Middle East, where the cryptocurrency market is seeing increasing growth. ATS Travel's ability to accept digital currencies will provide corporate clients, leisure travelers, and MICE customers with a more streamlined, faster, and secure way to manage their travel expenses, informed Sharif.
The association between Payhound and ATS Travel is expected to set the stage for further innovations in payment solutions for the global travel industry. The two companies are excited about the potential to further expand this offering and introduce even more groundbreaking services in the future, informed Lamb.
About Payhound:
Payhound is a fully regulated cryptocurrency payments solution provider that serves a wide range of industries, including iGaming, financial services, e-commerce, and more. Based in Malta, Payhound offers comprehensive services, including crypto payment processing, settlements, and large-volume trading. Payhound holds a Virtual Financial Assets Service Provider license from the MFSA and is a leader in cryptocurrency payment solutions.
About ATS Travel:
ATS Travel is a leading travel management company headquartered in Dubai, UAE, with operations spanning the UAE, Saudi Arabia, Qatar and India, and other countries in the Indian Subcontinent. Founded 48 years ago, ATS Travel offers a comprehensive range of travel services, including business travel solutions, airline tickets, luxury travel, holiday packages, cruises, travel insurance, and car hire. Through its fully owned subsidiary, 5th Element Events, the company provides MICE services, and it is part of a global network of travel management companies via its association with ATG Travel Worldwide based in Netherlands. ATS Travel also promotes student and educator trips through partnership with Barton Hill of London.
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