Leading U.K travel management company, Corporate Traveller, has announced a new partnership with a payment processor, BitPay, which allows it to adopt cryptocurrencies as a payment option.
According to the April 15 release, SMEs will now have Bitcoin and Bitcoin cash included as a payment option for business travel services, offered by Corporate Traveller.
The company’s UK General Manager, Andy Hegley, said that Corporate Traveller decided to roll out crypto as a payment option because it identified an increasing demand from clients asking for the opportunity to pay for business travel bookings in bitcoin.
He noted that partnering with BitPay makes it easy since the payment processor will “handle the entire process of getting the Bitcoin or Bitcoin Cash from the customer and depositing cash into [Corporate Travellers] account.”
How Does Corporate Traveller Bitcoin Payments Work?
As per the release, customers will pay the exact amount of Bitcoin or Bitcoin Cash for any service on Corporate Traveller while BitPay takes 1% commission for any successful transaction. The travel management company believes that the commission rate is more affordable when compared to the cost of credit cards processing.
Customers can comfortably make payments through a computer, mobile device, or as an online eCommerce transaction.
In the release, Bitpay which has processed over $1 billion worth of cryptocurrency pledged to do its best to facilitate convenient transactions for Corporate Traveller and its SME Customers.
BitPay’s Chief Commercial Officer Sonny Singh noted after his firm’s latest partnership confirms the fact that “blockchain and cryptocurrencies have proven to offer a strong user case for travel.”
Meanwhile, the latest development marks another significant step in the adoption of cryptocurrency in the travel industry, with a lot of travel booking firms now accepting cryptos as a payment option.
Earlier this year, Coinfomania reported that an Argentine public transport service now allows users to load their SUBE cards with Bitcoin.