Specialist SME travel management company Corporate Traveller has partnered with global blockchain payment provider BitPay to allow customers to use Bitcoin to pay for business travel bookings.
Using BitPay, payments received via Bitcoin or Bitcoin Cash will settle directly in Corporate Traveller’s bank account within two business days, denominated in pounds sterling. The TMC says there is no price volatility or risk and that as a ‘push’ transaction, the user sends the exact amount of Bitcoin or Bitcoin Cash needed to pay the bill, and BitPay charges 1 per cent to approve the transaction.
BitPay enables payments from any computer or mobile device, and invoices can be generated by email or as an online eCommerce transaction.
As of 2018, BitPay says it processes more than US$1 billion annually from merchants and B2B customers globally.
Andy Hegley, UK general manager of Corporate Traveller, 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 identified an increasing demand from our clients for the option to pay in Bitcoin for business travel bookings made by our travel consultants. 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 it into our account. The blockchain industry is growing exponentially and we are excited to be able to offer our clients the ability to pay in Bitcoin, whilst having the reassurance of our settlement from BitPay being in pounds sterling.”
Sonny Singh, chief commercial officer of BitPay, added: “We are excited that Corporate Traveller is committing to offering clients the ability to pay in Bitcoin and Bitcoin Cash. 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.”