Spain’s largest airline, Vueling, accepts cryptocurrency payments. It has partnered with Bitpay and UATP to accept Bitcoin and other cryptocurrencies starting from 2023. Despite the current bear market in cryptocurrencies, companies are still adopting them as a payment method. In most economies, the private sector is the largest employer. For the private sector to accept cryptocurrencies is bullish for the crypto community, even during downtimes.

As the world’s number one cryptocurrency keeps gaining acceptance globally, it is trading at $16,168.10 and it is down by 3.20% on the gate.io crypto exchange trading platform. Investors withdraw liquidity from exchanges like Gate.io, which has positive effect on the most cryptocurrency prices. Bitcoin started this week on a bearish trend but after the Feds announced the new hike in interest rate, BTC and most altcoins bounced back with BTC rising above $20,000 and then at $15,257 at press time. This announcement is bullish for the cryptocurrency community.

Vueling Partners with Bitpay to Accept Cryptocurrencies

Vueling S.A., a Spanish low-cost airline based in Greater Barcelona, belongs to the International Consolidated Airlines Group (IAG). The airline has partnered with Bitpay, the world’s largest bitcoin provider, to allow customers to pay for tickets using cryptocurrencies. As a result, Vueling accepts cryptocurrency payments. This partnership offers a seamless transaction experience for customers.

Vueling’s Commitment to Digital Innovation

Jesús Monzó, manager of distribution strategy and alliances at Vueling, in a press statement noted, “With this agreement, Vueling once again reaffirms its position as a digital airline.” He stated that they are pleased to partner with Bitpay.

BitPay’s Vision for the Future of Payments

Merrick Theobald, the Vice President of Marketing at BitPay, stated, “Vueling recognizes the potential of cryptocurrencies to transform the airline industry. Cryptocurrencies make payments faster, more secure, and less expensive globally. At BitPay, our goal is to make cryptocurrency acceptance seamless. We believe that cryptocurrencies are the future of payments.”

UATP’s Role in Streamlining Payments

Moreover, the company also struck a deal with Universal Air Travel Plan (UATP), a global travel payment solution for alternative forms of payment for travel-related expenses. This partnership will enable the company to leverage the technology provided by UATP for a seamless payment process for the customers of the largest airline in Spain, Vueling.

Cryptocurrency Payment Options and Future Plans

Rachel Morowitz, SVP Partner Processing at UATP, stated, “Offering cryptocurrency as a form of payment to the buying public is a must in this digital age of payments. UATP and BitPay partnered to bring this option to the airline industry. They are fulfilling the rising demand of Vueling’s customers to pay with cryptocurrency.” She added, “It’s an exciting time in payments. We look forward to watching this partnership, and Vueling’s use of cryptocurrencies, accelerate quickly.”

To begin with, this payment option will be available on Vueling’s website. From 2023, it will accept 13 cryptocurrencies, including Bitcoin, Ethereum, and Shiba Inu. Ticket prices will still be displayed in Euros. Customers can make payments through the various wallets available via the Bitpay ecosystem. The payment option will be available for any of the 13 accepted cryptocurrencies.

The payment method with cryptocurrencies will be a push transaction, meaning the user sends the exact amount, rather than a withdrawal-like traditional credit or debit cards, this is to eliminate transaction fraud and phishing. As cryptocurrency adoption keeps gaining dominance, we will see in the future more companies accepting cryptocurrencies as means of payment and this will keep increasing the utility of cryptocurrencies.