One of the largest cryptocurrency payment provider, BitPay, has just inked a deal with Spain’s largest airline, Vueling, allowing customers of the airliner to make payments through cryptocurrencies.
Despite a crypto market rout, global conglomerates are keen to adopt cryptocurrenicies along with traditional finance. It seems consumer interest in crypto is still full of vim and vigor. As per a recent survey conducted by banking giant, Bank of America, in spite of a massive crypto sell-off, public enthusiasm for this industry is vivacious. In point of fact, the survey indicated a hightened interest in the use of cryptocurrencies as an online payment method in the immediate future.
. @vueling joins forces with #BitPay and UATP to accept cryptocurrencies as an alternative method of payment. Read more: https://t.co/65LXN0nhgG #crypto #cryptopayments #bitcoin pic.twitter.com/fB6aaDwhqs
— BitPay (@BitPay) June 16, 2022
Bitcoin as a Payment Method for Tickets
On June 16, BitPay, announced a partnership with Spanish airline, Vueling and global payment solutions provider UATP to allow the airline’s customers to make payments through digital tokens for services including purchasing tickets. This move would help to re-brand Vueling as the first low-cost airline in Europe to accept cryptocurrencies as a payment method. The crypto payment services will go live as early as 2023.
According to the official blog post, Vueling will use the technology provided by UATP to allow a quick integration process. The ticket prices will be displayed in Euros, and customers will be able to pay for their flight from more than 100 wallets as well as choose between 13 different cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Shiba Inu (SHIB) and Wrapped Bitcoin (WBTC) to pay.
As per the blog post, transacting with cryptocurrencies is a push transaction, enabling the user to send the exact amount, rather than a withdrawal as with a regular credit or debit card. This will eventually stamp out transaction related fraud including phishing scams. However, this service will be only available at Vueling’s official website.
Cryptocurrency is the Future of Payments
Jesus Monzo, Manager of Distribution Strategy and Alliances at Vueling, expressed that the partnership with BitPay solidifies Veuling’s position as a digital airline. He further added,
“We are very pleased to have found in BitPay the best partner to offer our customers the possibility of making transactions with cryptocurrencies with the greatest security and reliability.”
Merrick Theobald, Vice President of Marketing at BitPay who seemed excited with the alliance emphasized that cryptocurrencies are the future of payments. He stated,
“Vueling recognizes the potential of cryptocurrencies to transform the airline industry, making payments faster, more secure and less expensive on a global scale. Our goal at BitPay is to make the acceptance of cryptocurrencies a seamless process and increase its adoption.”