The entry of Crypto into the aviation industry is now a reality after Vueling S.A. announced that its clients would be able to buy tickets in Crypto. BitPay and UATP will support the integration of digital currencies in the airline’s payment platform.
Vueling S.A. is one of the most prominent in Spain and serves over 122 destinations globally. Its headquarters is in Prat de Llobregat Barcelona, with hubs in Paris’ Orly Airport and Rome’s Leonardo Da Vinci Airport.
According to the official source, the Crypto payment solution will be available from 2023. The company will be creating a stable infrastructure to support Crypto in the meantime.
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What Travelers Can Expect in 2023
When the service is made available to users, ticket prices will be displayed in Euros. The client will therefore need to be able to convert their Cryptos into equivalent Euro pairs to pay. Since Vueling S.A. has a passenger-carrying capacity of over 30 million people, more than 100 wallets will be supported on the new payment platform. Therefore, users only need to deposit their Crypto in approved wallets, connect to the airline’s ticketing platform, and purchase a ticket.
The system will be accepting 13 Cryptocurrencies, including; Dogecoin (DOGE), Ethereum (ETH), Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Shiba Inu (SHIB), and Wrapped Bitcoin (WBTC).
Vueling Is Positioning Itself as A Premier Airline
According to Deloitte research, business leaders and clients consider a company that accepts Crypto as cutting edge. Hence, Jesús Monzó, the Manager of Distribution Strategy and Alliances at Vueling, believes that the move will make the airline competitive. Monzo adds that the Crypto payment solution will curb travelers’ fraud and phishing when they pay in debit and with credit cards.
BitPay Vice President of Marketing Merrick Theobald assures all clients that the partnership with BitPay will proffer top-notch security and privacy. The infrastructure is also expected to be reliable to avoid inconveniencing users.
The Future of Payments is In Cryptos
Despite the prevailing Crypto winter, crypto adoption is gathering momentum. Rachel Morowitz, UATP’s senior VP partner, processing assets, that the world has moved to a digital age where customers prefer to pay in Crypto.
For risk-averse users, there are Stablecoins, Non-Fungible Tokens (NFTs), and Central Bank Digital Currencies (CBDCs) that are not susceptible to market shocks.
About BitPay and UATP
BitPay is a payment services provider that enables users to ‘store, swap, and spend Bitcoin.’ On the other hand, UATP is an acronym for the Universal Air Travel Plan (UATP). The platform started as the Air Travel card in 1936, and it helps travelers to pay for travel expenses conveniently.