Camino Network Joining forces with electronic money service providers Moriam To develop online payments in the tourism industry The partnership brings Monerium and EURe, popular online eurocurrencies, to Camino Network, enabling users to carry out transactions for travel businesses.
Under the agreement, Monerium’s solution will enable businesses on the Camino Network to connect traditional bank accounts with Web3 wallets while remaining compatible with banking systems such as SEPA. Monerium’s EURe will be available on Camino Messenger. It is a distribution and procurement protocol for the global travel industry. Major companies in the travel industry such as Lufthansa Group, MTS and Invia are already connected to the company.
The partnership aims to create a more efficient payment method for users in the travel industry. It addresses issues such as high fees. and a long and complex reconciliation process.
Camino Network says it wants to reduce high trust costs due to the travel industry’s reliance on traditional payment systems.
“The travel industry operates on very small margins, with EBIT of just 1%, which is often considered successful. Payments, which typically cost an average of 3% per transaction, will eat into these already narrow profits. By leveraging Monerium’s capabilities for blockchain from increasing the number and settlements We can significantly reduce payment costs. and improve profits for this tourism business. This is an important step in creating more efficient and sustainable finance. infrastructure for the travel industry,” said Pablo Castillo, CEO of Chain4Travel (Camino Network Lab).
Monerium’s online ordering solution combined with Camino Network’s blockchain infrastructure is poised to deliver significant benefits to both consumers and travel companies. Consumers will enjoy better pricing with lower agent fees and faster cross-border payments enabled by blockchain. Meanwhile Travel companies can optimize their operations by managing their inventory in real time. automatic payment and process payments more efficiently
“Adding EURe to Camino Network demonstrates our dedication to connecting traditional finance with blockchain. We are excited to work with Camino Network, whose innovative infrastructure is key to making payments for travel businesses smoother, faster and more cost-effective. This cooperation Not only does it help increase the flexibility of transactions. But it’s also a powerful example of how online orders can transform industry-specific payment systems. and build a more efficient financial future,” said Gisli Kristjánsson, Co-Founder and CEO of Monerium.
Monerium’s EURe will reportedly launch on Camino Network’s testnet by the end of December 2024, with a mainnet launch in January 2025.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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