Corporate Traveler, a travel management specialist is going to offer its customers to use cryptocurrency payments for booking business travel. The global travel management service will enable a wider outreach in the wake of partnership with one of the largest blockchain payment provider, Bitpay. The service will allow users to pay via BTC or BCH.
The company has successfully completed its 2 decades of foundation led by the parent company, Flight Centre Travel Group. The implementation of cryptocurrency payments supports the growing demand for cryptocurrency payment modes among its clientele.
The firm is one of the leading specialist providers of business travel management services in the UK. With the massive growth of blockchain, the airlines firms and travel agents are tapping into the market. The general manager of Corporate Traveler at the UK said:
The blockchain industry is growing exponentially and we are excited to be able to offer our clients the ability to pay in bitcoin. The company is the first business TMC to offer this payment option to SMEs in the UK and supports its customer focus on a service experience that clients will not receive anywhere else.
While implementing Bitpay’s payment processor, the payments made by customers in BTC or BCH will directly settle in the Corporate Traveller’s bank account. The time of settlement of transactions will take at most 2 business days and will be denominated in British Pound.
There is no price volatility or risk to the company, it explains, and as a push transaction, the user sends the exact amount of bitcoin or bitcoin cash needed to pay the bill with just a 1% transaction facilitation and settlement charge to BitPay, which is much less than existing credit card fees.
Users can execute payments via BitPay from any computer or mobile device. Consequently, the invoice will be generated or similar to an online eCommerce transaction thus making it convenient for the users. Back in 2017 and 2018, Bitpay accounted for over $1 billion in payments annually via thousands of B2B customer and merchants all over the world.
The cryptocurrency payment processor is growing significantly adding B2B businesses, law firms, IT vendors and data centre providers and creating records for transaction fee revenue. The company reportedly went 255% up in adding new customers and merchants as compared to the previous year.
Sonny Singh, Chief Commercial Officer at BitPay is expecting the partnership with Corporate Traveler in the long run. He stated:
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 use 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.