Following the increased demand from clients, “mainly international students and tourists,” the UK’s biggest corporate travel company decided to start accepting bitcoin for payments.
Corporate Traveller, the UK’s largest travel management company, will be accepting Bitcoin (BTC) and Bitcoin Cash (BCH) payments for its services via third-party payment processor BitPay.
If successful, the move also could mean that its retail travel parent-company Flight Centre Group could soon accept cryptocurrency company-wide.
Corporate Traveller has offices in 20 locations across the UK. While its parent company Flight Centre Travel Group (FCTG) is the largest retail travel service provider in Australia. With the move into Bitcoin payments, Corporate Traveller is probably testing the waters for possible company-wide adoption of the cryptocurrency.
Commenting on the move, Corporate Traveller’s UK General Manager Andy Hegley said:
“We believe Corporate Traveller is the first business travel management company to offer this payment option to SMEs in the UK.”
According to the company, they chose BitPay to manage merchant processing because BitPay makes it easy and handles the entire process of getting the Bitcoin or Bitcoin Cash from the customer and depositing cash into the company account. However, by using BitPay, Corporate Traveller won’t benefit from Bitcoin network’s speed (max approx 30 minutes) since BitPay’s settlement into GBP will take up to 2 business days.
One of the first travel companies to pioneer bitcoin acceptance back in 2014 was CheapAir. As the cryptocurrency industry has been growing, more and more businesses are willing to offer their clients the ability to pay in bitcoin and/or other coins, while having settlement by BitPay in pounds sterling.
BitPay, for its part, recently reported that the firm set a new record in terms of transaction fee revenue at over $1 billion last year. According to the press release, this was thanks in part to their having expanded to a number of major customers like Dish Networks, HackerOne, and the State of Ohio.
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