Low-cost Spanish airline Vueling has said that it is investigating how blockchain and NFT (non-fungible token) technology may be used to accept cryptocurrency as payment for its services. By Q3 2023, the company hopes to make this payment option available to users thanks to the assistance of Criptan, a legally recognised cryptocurrency exchange in Spain.
One of the Spanish low-cost carriers, Vueling, is beginning to take cryptocurrency as payment for its services. Vueling has expanded since the Covid-19 travel limitations were lifted. The business revealed on January 14 that it was investigating the use of blockchain and NFT technologies to enable users to purchase airline tickets using cryptocurrencies.
Vueling has teamed up with Criptan, a national exchange that has previously registered with the Bank of Spain, for this duty in order to act as a payments company and process and complete clients’ orders using cryptocurrency.
According to Vueling, this action will make it the first low-cost airline in Europe to accept cryptocurrency as payment. Vueling’s alliances and distribution manager, Jesus Monzo, commented on this as follows:
With the help of this agreement, we will be at the cutting edge of innovation and new technology, further solidifying our dedication to our clients and enabling us to provide the greatest and most cutting-edge tools and solutions on our website.
The introduction of cryptocurrency payments, according to Criptan CEO Jorge Soriano, might enhance user experience by demonstrating to customers the possibilities of implementing such solutions.
UATP tech, the worldwide payments network for airlines, will be used for the capability, which is anticipated to be available on the airline’s website by Q3 2023. However, the business has not yet specified which cryptocurrencies would be accepted.
In their retail operations, other airlines have already included cryptocurrencies and even NFTs. An example of one of these is the Argentine airline Flybondi, which declared it will start issuing tickets as NFTs in September 2022, enabling customers to resell them on secondary markets. Using Binance Pay as a partner in payment processing, the business would also accept payments in stablecoins like USDC as part of that alliance.
But even before that, the Venezuelan government announced it will start taking a number of cryptocurrencies, including the country’s official coin, the petro, as payment for airline tickets starting in October 2021.