The airline signs an agreement with the world's largest provider of Bitcoin and cryptocurrency payment services
BARCELONA, Spain, June 16, 2022 /PRNewswire/ -- Vueling, an airline part of IAG, and BitPay, the world's largest provider of Bitcoin and cryptocurrency payment services, have reached an agreement allowing the airline's customers to make payments through this digital means of exchange.
To offer this service, the airline will use UATP's technology, the global payment network for the airline industry, which allows a fast integration process. Thanks to this alliance, Vueling will become the first low-cost airline in Europe to accept cryptocurrencies as a payment method. This service will be available at the beginning of 2023 at www.vueling.com, and for individuals only.
Ticket prices will be displayed in Euros and customers will be able to pay for their flight from more than 100 wallets and 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).
Paying with cryptocurrencies is a push transaction, meaning the user sends the exact amount, rather than a withdrawal like traditional credit or debit cards, eliminating transaction fraud and phishing.
Jesús Monzó, Manager of Distribution Strategy and Alliances at Vueling says:
"With this agreement, Vueling once again reaffirms its position as a digital airline. 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 says:
"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, as we believe that cryptocurrencies are the future of payments."
"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 and is fulfilling the rising demand of Vueling's customers to pay with cryptocurrency," stated Rachel Morowitz, SVP Partner Processing, UATP. "It's an exciting time in payments, and we look forward to watching this partnership, and Vueling's use of cryptocurrencies accelerate quickly."
Founded in 2011, BitPay pioneered blockchain payment processing with the mission of transforming how businesses and people send, receive, and store money. Its business solutions eliminate transaction fraud, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information visit bitpay.com.
UATP is a global payment solution owned and operated by the world's airlines and accepted by thousands of merchants for air, rail and travel agency payments. UATP connects airlines to Alternative Forms of Payment which can expand reach and generate incremental sales globally. UATP offers easy-to-use data tools, DataStream℠ and DataMine℠, which provide comprehensive account details to Issuers and Corporate Subscribers for accurate travel management. Accepted as a form of payment for corporate business travel worldwide by airlines, travel agencies and Amtrak®; UATP accounts are issued by: Aeromexico; Air Canada (TSE: AC); Air China; Air New Zealand (ANZFF.PK); Air Niugini; Air Serbia; American Airlines (NASDAQ: AAL); APG Airlines; Austrian Airlines; BCD Travel; China Eastern Airlines (NYSE: CEA); Delta Air Lines (NYSE: DAL); EL AL Israel Airlines; Etihad Airways; Fareportal; Frontier Airlines; GOL Linhas aereas inteligentes S.A. (NYSE: GOL and Bovespa: GOLL4); Hahn Air; Hight Point Travel; Japan Airlines (9201:JP); JetBlue Airways; Qantas Airways (QUBSF.PK); Shandong Airlines; Sichuan Airlines; Southwest Airlines; Sun Country Airlines; TUIfly GmbH; Turkish Airlines (ISE:THYAO); United Airlines (NASDQAQ: UAL) and WestJet. AirPlus International issues the UATP-based Company Account for Lufthansa German Airlines.
Vueling, part of the IAG group, is a key player in European connectivity, which makes it a key company for economic and tourism development. For summer 2022, the company has a network of more than 330 short and medium-haul routes in Europe, North Africa and the Middle East, which are operated with a fleet of Airbus A319, A320, A320neo and A321 models.
In the current environment, Vueling continues to advise all customers to use its digital tool on the website and mobile app, which provides updated information on the documents required to travel to each destination.