Purchasing Emirates flight tickets and shopping at Duty Free using cryptocurrency will soon be an option in Dubai.
In a forward-looking step, Emirates and Dubai Duty Free have announced strategic partnerships with Crypto.com to integrate cryptocurrency payments for air ticket and shopping transactions.
**Emirates' Integration Process**
Emirates has signed a Memorandum of Understanding (MoU) with Crypto.com to explore integrating cryptocurrency payments into its booking and payment systems. The airline aims to incorporate Crypto.com Pay into its systems, providing customers with the option to use digital currencies for transactions. The integration is expected to be rolled out by next year.
**Dubai Duty Free's Integration Process**
Similar to Emirates, Dubai Duty Free has also signed an MoU with Crypto.com to explore enabling crypto payments for purchases both in-store and online. Both parties will conduct feasibility studies to develop crypto payment solutions and collaborate on marketing campaigns to enhance customer engagement and awareness.
**Expected Benefits**
Both Emirates and Dubai Duty Free aim to offer customers greater flexibility in payment options, catering to evolving preferences, especially among tech-savvy travelers. By embracing digital currencies, these companies are positioning themselves at the forefront of digital innovation, supporting the UAE's broader digital transformation goals.
The adoption of crypto payments is expected to attract a new segment of travelers who prefer digital currencies, potentially boosting sales and customer base. Dubai Duty Free aims to enhance the retail experience by offering diverse payment options and staying aligned with the UAE's vision for innovation and digital growth.
Eric Anziani, Crypto.com's Head of Middle East and Africa, expressed that the integration with Dubai Duty Free will bring real momentum to the digital asset industry.
It's worth noting that many property developers in the UAE are already accepting cryptocurrencies as a mode of payment from buyers. However, no information was provided about the UAE issuing Golden Visas for crypto investors or a Crypto Tower being built in Dubai.
[1] Emirates Press Office (2022). Emirates and Crypto.com announce strategic partnership to explore cryptocurrency payments. [online] Available at: https://www.emirates.com/english/news/emirates-and-crypto-com-announce-strategic-partnership-to-explore-cryptocurrency-payments/
[2] Crypto.com (2022). Emirates and Crypto.com announce partnership to explore cryptocurrency payments. [online] Available at: https://crypto.com/en/press/emirates-and-crypto-com-partnership-announcement
[3] Dubai Duty Free (2022). Dubai Duty Free signs MoU with Crypto.com to explore crypto payment options. [online] Available at: https://www.dubaidutyfree.com/en/news/dubai-duty-free-signs-mou-with-crypto-com-to-explore-crypto-payment-options
[4] Gulf Business (2022). Emirates and Dubai Duty Free partner with Crypto.com to offer crypto payments. [online] Available at: https://gulfbusiness.com/emirates-and-dubai-duty-free-partner-with-crypto-com-to-offer-crypto-payments/
- This strategic partnership between Emirates and Crypto.com could potentially expand to include cryptocurrency payments in the realm of business and real estate, as the airline aims to offer more flexible payment options.
- The UAE's push towards digital innovation is evident as Dubai Duty Free's integration of crypto payments is not only for travel transactions but also for purchases in lifestyle and technology sectors online and in-store.
- In the world of sports and news, the adoption of cryptocurrencies by Emirates and Dubai Duty Free could signal a shift towards a more digital-friendly society, aligning with the UAE's broader vision for growth.
- As more property developers accept cryptocurrencies in the UAE, the integration of cryptocurrency payments by Emirates and Dubai Duty Free could attract a new demographic of tech-savvy consumers, potentially influencing the finance and finance sectors as well.
