Universal Air Travel Plan recently announced that it has partnered with BitPay in an agreement that allows travelers to pay for flights, rail tickets, accommodations and other travel-related expansions with hundreds of vendors with cryptocurrency.
One of the reasons why this development is significant is because travel-related expenses are already amongst the top five types that are paid for with cryptocurrency, and this is expected to continue to improve now that it has become easier to do.
Also of note, a Travala.com survey that was done in April found that 22% of the 1,000 Americans who were polled at that time said that they were planning to pay for at least a portion of their upcoming travel-related expenses with cryptocurrency.
UATP is a payment network that is owned by hundreds of airlines. BitPay is a cryptocurrency payment service provider, which has been involved with billions of dollars in blockchain transactions over the past decade.
According to UATP, this partnership will allow customers to more easily pay for these travel-related expenses in “Bitcoin, Dogecoin, Ethereum, Litecoin and six other popular cryptocurrencies.”
Stephen Pair, BitPay’s CEO, added that “cryptocurrency continues to gain momentum as a safe and trusted payment option” and that his company supports all cryptocurrency wallets, meaning that it is irrelevant how customers pay with cryptocurrency.
Ralph Kaiser, UATP’s CEO, said that this partnership is bringing together “the perfect combination of two experts in airline and cryptocurrency payments,” adding that he expects cryptocurrency payments to continue to change the market and to help airlines attract customers that they otherwise would not have.
Amongst the airlines that are included in this agreement are Aeromexico, Air Canada, Air China, Air New Zealand, American Airlines, Austrian Airlines, Delta Air Lines, Frontier Airlines, Japan Airlines, Qantas, Southwest Airlines, Sun Country Airlines, Turkish Airlines, United Airlines and WestJet.
Bitcoin is the world’s leading cryptocurrency and is judged by most to be amongst the five most influential currencies in the world. However, it is far from the only powerful one as others such as Dogecoin, Ethereum and Litecoin have also increased significantly in power over the past several years.