Crypto is flying high! Bitcoin as payment for tickets now accepted by Spain’s largest airline
The crypto is flying high this year, despite strong bear market headwinds.
Vueling SA, a Spanish low-cost airline based in the Greater Barcelona area, has announced that it will start accepting 13 different cryptocurrencies as payment for its flight services from 2019.
Vueling is partnering with BitPay on a deal that will allow customers to pay using a variety of cryptocurrencies including Bitcoin, Ethereum, Dogecoin, Shiba Inu, Bitcoin Cash, Litecoin and Wrapped Bitcoin, to name a few- one.
BitPay is the largest bitcoin payment processor in the world. Over the past decade, the company claims to have processed more than $5 billion in blockchain-based payments and has operations in Europe, North America, and South America.
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Vueling will be the first low-cost airline in Europe to accept bitcoin as payment when it becomes available. The International Airlines Group, an Anglo-Spanish conglomerate that owns Vueling, is headquartered in London, England.
This payment method will use the Universal Air Travel Plan (UATP) travel payment solution. In general, UATP offers payment options to airlines around the world.
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In a statement, the UATP said:
“Ticket prices will be presented in euros, and users will be able to choose between 13 different cryptocurrencies and over 100 wallets to pay for their flights.”
To reduce instances of fraud associated with this unique payment method, Vueling disclosed that the transaction would be a push payment as opposed to a pull payment. This implies that users would pay directly from their digital currency wallets and initiate the transaction themselves.
Jess Monzó, head of distribution strategy and alliances at Vueling, said:
“Vueling reinforces its status as a digital airline with this agreement. We are pleased to have found in BitPay the perfect partner to provide our consumers with the most secure and reliable cryptocurrency transaction capabilities.
Other major airlines are adopting the Bitcoin payment system
Vueling is neither the first nor the last airline to enter the cryptocurrency industry. In 2014, AirBaltic partnered with BitPay to become the first airline in the world to adopt BTC.
Simple Flying earlier this year signaled Emirates’ intentions to accept Bitcoin as a form of payment, while some airports, including Brisbane Airport in Australia and Caracas Airport in Venezuela, are already accepting payments in bitcoins.
Alternative Airlines, a UK-based travel agency, has been offering its international passengers the option of paying for their flight tickets using Bitcoin through Utrust or crypto.com for some time.
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Featured image from Bitcoin Magazine, chart from TradingView.com