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As cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) continue to gain in popularity, companies in the aviation industry are looking for ways to enable the acceptance of digital currencies as payment for their services. For instance, Spain-based budget airline Vueling is exploring blockchain and non-fungible token (NFT) technology as it plans to offer a crypto payment option later this year.
After seeing its business growth after the lifting of Covid-19 travel restrictions, Spanish budget airline Vueling is now setting its sights on enabling crypto payments for its services. In a January 24 announcement, Vueling revealed that it is studying blockchain and NFT technology’s use so it could accept cryptocurrencies as payment for plane tickets, Bitcoin.com reported.
Once it pushes through with its plan, Vueling would become Europe’s first low-cost airline to accept crypto as a means of payment. To make it happen, the airline has already partnered with Criptan, a national crypto exchange that has already registered with the Bank of Spain. Under the agreement, Criptan would serve as a payments company that handles the processing of crypto payments made by Vueling’s customers.
“This agreement places us at the forefront of new technologies and innovation, further reinforcing our commitment to our customers and offering the best and most advanced tools and solutions on our website,” Vueling’s alliances and distribution manager, Jesus Monzo, said.
Criptan CEO Jorge Soriano is confident that introducing crypto payments would improve the user experience of Vueling’s customers. Doing so would also showcase the potential of crypto payment options and help further promote the usage of digital currencies.
The crypto payment option is expected to become functional by the third quarter of 2023. The system will utilize UATP tech, which is the global payments network for airlines. At the moment, Vueling has not yet revealed which cryptocurrencies will be supported by its payment option.
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