The UATP global payment network has partnered with crypto payments processing company BitPay, to expand the reach of UATP to a wider global customer base by allowing customers to pay for travel using cryptocurrency.
BitPay and UATP have joined forces
UATP has partnered with the largest provider of Bitcoin and crypto payment services, Atlanta-based BitPay. UATP is a global payment network owned by the world’s airlines, and is accepted by merchants for air, rail, and agency payments. Considering that travel and leisure are among the top 5 items purchased with cryptocurrency, according to a survey done by Pyments.com, UATP is allowing Bitcoin, Dogecoin, Ethereum, Litecoin, and six other cryptos, through its partnership with BitPay, to be used for payments. Travel is a high-value purchase, and because cryptocurrency has been growing into a safe and trusted payment option, more people are coming on board, according to Stephen Pair, BitPay’s co-founder and CEO. Litecoin was the most recent addition to BitPay in Q3 2021. BitPay supports all crypto wallets, which will enable many customers globally to pay with crypto, and has the potential to increase UATP’s client-base significantly.
A match made in heaven
UATP connects airlines to alternative forms of payment, which benefits global sales by increasing reach. With UATP’s experience in airline payments, and BitPay’s experience in cryptocurrency payments, the partnership prospects are game-changing, to paraphrase Ralph Kaiser, president and CEO of UTP.
The Numbers Don’t Lie
BitPay’s impact in the crypto payment space has been undeniable, having processed over $5B dollars in blockchain transactions since 2011, although it’s public image has been somewhat marred by two incidents. The first, being a blockage of crypto donations to the Hong Kong Free Press last year, and the second, bouncing a $100000 donation to the Amazon rainforest fire relief fund. Nevertheless, it has seen successful partnering with numerous merchants, which have increased its profile in the crypto payments space. Among merchants that use BitPay are Kessler Hotels, and e-commerce company Newegg. This isn’t BitPay’s first foray into the travel industry; they are partners with Travala.com, which is an online travel-booking service. Travala accepts up to 30 different crypto tokens via BitPay, in exchange for a Travala gift card, which can be used to purchase over three million Travala products.