Soneva starts accepting cryptocurrencies across all properties

Luxury hospitality brand Soneva, is now accepting Bitcoin and Ethereum cryptocurrencies across each of its resorts in the Maldives and Thailand.

The payment channel is designed to make the transaction process easier and offer the option for guests to make secure international payments at Soneva Fushi, Soneva Jani and Soneva in Aqua in the Maldives, and Soneva Kiri in Thailand.

Both Bitcoin and Ethereum can also be used for Soneva Villa Ownership, the first and only scheme that offers real estate to foreign buyers in the Maldives, with all appropriate controls and compliance in place. According to Soneva, this expansion will offer its guests the flexibility to choose the best payment option for their needs, before, during or after their holiday.

Soneva has partnered with cryptocurrency payments solutions provider TripleA and payment platform provider Pomelo Pay to expand its payment options and remove barriers in luxury travel. As a licensed cryptocurrency payments solutions provider, Triple A enables Soneva’s guests to make crypto payments without any risk of price volatility, offering instant confirmation, locked-in exchange rates, real-time conversions and no charge backs. Used in conjunction with Pomelo Pay, a payment platform, it facilitates cryptocurrency payments using secure QR code and payment link technology.

Although payments made using Bitcoin or Ethereum are non-refundable, credits can apply in like with Soneva’s flexible Payment and Cancellation Policy, which was introduced in response to the COVID-19 pandemic to assure that guests can book their stays with confidence.

“At Soneva, we have always endeavoured to be a pioneer in the hospitality industry, hence accepting cryptocurrencies as a payment method is another example of enabling our international guests to easily make payments from anywhere in the world,” says Bruce Bromley, Chief Financial Officer, and Deputy CEO of Soneva.

CEO of TripleA, Eric Barbier says, “TripleA is thrilled to partner with Pomelo Pay to allow businesses like Soneva to accept cryptocurrency payments. With our partnership, businesses get to tap into the spending power of more than 300 million crypto owners globally, without bearing any price volatility risk.”

“We are excited to embark on this journey with TripleA and enable Soneva to accept cryptocurrency as a form of payment from travellers across the globe,” says Vincent Choi, CEO of Pomelo Pay. “Importantly, TripleA is a reliable, trusted, approved, regulated crypto payments solutions provider entrusted by users and merchants, so it is the perfect working partnership for all of us.”

“As more businesses look to innovate how they make and take payments, this is the perfect opportunity to move with the times – not only give consumers the choice to pay the way they want to but to facilitate seamless technology in the way businesses accept payments too.” He added.

Cryptocurrency payments are becoming increasingly popular among travellers across the world, with the global crypto market projected to reach USD 4.94 billion by 2030. Tagged as the ‘currency of the future’, cryptocurrencies also have the potential to help decarbonize unreliable power grids and be a driver for countries to meet their climate goals faster. As the industry makes progress towards greater sustainability, it is also becoming an essential part of developing a carbon-neutral energy grid.

Featured Cover Image: Soneva