UATP, a global payment network owned and operated by the airlines around the world, announced it has partnered with BitPay. According to a press release published on 8 September, UATP will leverage BitPay’s infrastructure to offer its network the ability to accept cryptocurrency payments for travel.
A recent survey from Pymnts.com showed that travel and leisure were among the top five items purchased with cryptocurrencies. This reportedly prompted UATP to expand its offering and use cryptocurrencies as a way to attract new customers.
Stephen Pair, Co-Founder and CEO of BitPay, said the company’s partnership with UATP will provide airlines with all of the benefits of blockchain technology, without having to handle, hold, or buy cryptocurrencies themselves. It will also enable UATP’s broad network of airlines to reach millions of new customers who choose to pay with cryptocurrencies, as BitPay supports payments through all crypto wallets.
“The UATP – BitPay partnership brings together the perfect combination of two experts in airline and cryptocurrency payments,” said Ralph Kaiser, the President and CEO of UATP. “Crypto payment stands to be a market changer in the industry; this partnership creates the opportunity for the airlines to attract new customers and to be a first-mover in this very exciting space.”