New Wirex Visa Travelcard To Reward Users With 1.5% in Bitcoins on All In-Store Purchases

Crypto and fiat multi-currency accounts provider, Wirex has officially launched its travel Visa card as of Monday, November 11, 2019. Considering the fact that the firm focuses on establishing connections around the world with its services, the new travelcard will first be made present in the Asia-Pacific region, namely, Singapore, Taiwan, Hong Kong, South Korean, Australia, New Zealand, Thailand, and the Philippines.

As per the press release, the travelcard is compatible with over 150 distinct cryptocurrencies and allows users to connect multiple fiat currencies. Together, these features are expected to help customers avoid unwanted expenses that typically arise from traveling (i.e. money exchange).

In addition to helping customers use money wisely, the firm has created a Cryptoback program, where customers who make in-store purchases will be given the opportunity to earn 1.5% in Bitcoin.

CEO and Co-Founder of Wirex, Paul Matveev expressed delight in being able to provide such an experience for his customers, adding that it is a great way to let them have full control over their money for whatever travel reasons.

He further noted that:

“We have witnessed an explosion in demand for hybrid fiat and cryptocurrency-enabled banking alternatives in APAC, where people need payments redesigned for the future.” He went on expound on the firm’s offerings, which he deems are, “More than just the next stage in the platform’s growth strategy; it is a tangle example of our mission to provide a genuine alternative to conventional financial services.”

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Author: Nirmala Velupillai

Webjet Debuts New Hotel Booking Verification Blockchain based on Microsoft Azure

Webjet, a leading digital travel agent is excited to launch its blockchain platform with an objective of eliminating the existing disparities in hostel booking processes and data. The new project, Rezchain, is an application that will help address overcharges and reservation snafus in hotel booking by tracing data mismatches between booking agents, hostels and customers.

According to the company, such errors occur in about 5% of all hotel bookings. The application will send alerts to the interested parties if any are found. Such errors cause many firms to suffer financial resource losses. Besides the financial exposures, the reconciliation process is painful and time-consuming.

Webjet was launched two decades ago in 1998 as an online travel agent company operating in North America, Southeast Asia and Australia. The company has a project called WebBeds that offers a Business-to-business accommodation online platform.

“Mistakes should be expected from multiple IT systems that speak different languages. Writing off debts remains as the last resort whenever the situation is not clear. That has been a cost of doing business for decades, but the industry does not have to suffer from that anymore,”

said John Guscic, the managing director at Webjet.

Webjet believes it will leverage blockchain technology distributed nature by employing early warning systems via Email and a “virtual handshake”. Rezchain will store information in a shared ledger which will give all parties interested in online booking access to timely information. The application has been built on what we can refer to as a private version of Ethereum.

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Author: Denis Miriti