Corporate Traveller, a UK-based business travel service provider, has recently teamed up with global cryptocurrency payment firm BitPay to allow its SME (small and medium enterprises) customers to pay for their business travel bookings using Bitcoin (BTC) and Bitcoin Cash (BCH).
According to its press release (Apr 15), cryptocurrency payments will transfer directly into Corporate Traveller’s bank account within two business days denominated in British Pounds (GBP). Compared to credit card transaction service fees which are usually 3%, BitPay charges only 1% commission to process crypto transactions and settlement.
Andy Hegley, Corporate Traveller’s UK general manager, said: “We are excited to announce this partnership and spearhead cryptocurrency payments in the business travel sector, as Bitcoin is currently not a mainstream method of payment among travel management companies.”
“We chose BitPay to manage our merchant processing because they make it easy and handle the entire process of getting the Bitcoin or Bitcoin Cash from the customer and depositing cash into our account,” he added.
Sharing more details about the partnership, Sonny Singh, Chief Commercial Officer of BitPay, said, “We know blockchain payments provide a strong user case for travel, with customers now able to spend bitcoin on corporate travel bookings. We have seen big growth from airlines and travel agents who are tapping into the massive blockchain market.”
Singh’s comments are reflected by the news last month that online travel portal Travala.com has launched a blockchain-powered payment gateway allowing travelers to book accommodation in up to 82,000 destinations using 10 different crypto.
Also last month, BitPay and leading electronics firm Avnet joined a partnership to accept Bitcoin as payments, reported TheCryptoSight.