Vueling, the low-cost Spanish airline, has announced that it is exploring the functionality of blockchain and NFT (non-fungible token) technology to accept cryptocurrency as a means of payment for its services. The company has enlisted the help of Criptan, a registered Spanish cryptocurrency exchange, and aims to open this payment option to users by the third quarter of 2023.
Vueling to collect payments in Crypto
Vueling, one of the Spanish budget airlines that has grown since the end of Covid-19 travel restrictions, is taking the first steps to accept crypto as payment for its services. The company announced on January 14 that it is exploring the use of blockchain and NFT technologies to enable customers to purchase plane tickets with crypto.
For this task, Vueling has partnered with the national exchange Criptan, which has already registered with the Bank of Spain to serve as a payment company that processes and fulfills customer orders using crypto.
Vueling says the move will make it the first low-cost airline to accept cryptocurrencies as a means of payment in Europe. Jesus Monzo, Vueling’s Alliances and Distribution Manager, said:
This agreement puts us at the forefront of new technology and innovation, further strengthening our commitment to our customers and offering the best and most advanced tools and solutions on our site.
Criptan CEO Jorge Soriano stated that the company is convinced that the introduction of crypto payments can improve the user experience by showing customers the potential behind the implementation of such solutions.
The functionality is expected to be available on the airline’s website by Q3 2023 and will use UATP technology, the global payment network for airlines, although the company did not specify which cryptocurrencies will be accepted.
Airlines and Crypto
Other airlines have already introduced crypto and even NFTs as part of their retail operations. One of these is Flybondi, an Argentinian airline that has announced it will issue plane tickets as NFTs in September 2022, allowing users to sell them on secondary markets. As part of that alliance, the company will also accept payments in stablecoins such as USDC, using Binance Pay as a payment processing partner.
But even before that, the Venezuelan government announced that in October 2021 it would accept several cryptocurrencies as payment for plane tickets, including the national token, the petro.
What do you think about Vueling accepting cryptocurrency payments for tickets by Q3 2023? Tell us in the comments section below.
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