Already familiar with receiving Crypto payments, CheapAir all set to accept Ethereum (ETH) payments now
After having processed crypto payments worth more than $5,000,000, CheapAir’s CEO Jeff Klee recently disclosed in an interview that the company will soon be accepting Ethereum payments for air tickets. The company was among the first travel agencies worldwide to accept bitcoin payments for flight tickets back in 2013.
In this regard, Klee told Forbes,
“CheapAir is about to start taking Ethereum which is new in addition to dash, Bitcoin cash, and Litecoin. Airlines have gone to great lengths to differentiate their products since it’s no longer just about getting the lowest fare.”
Klee mentioned that the most significant challenge when processing Crypto payments came about at the end of 2017 when bitcoin transaction fees shot through the roof. As a result, CheapAir experienced a bunch of mishaps in December 2017 when transaction fees were high.
CheapAir had used Coinbase’s merchant support to process payments since 2013. Some of the biggest challenges the company faced, considering the high volatility of bitcoin’s price at the time, was the underpayment or overpayment of crypto flight ticket payments. Following this period of uncertainty, Coinbase ended their merchant program.
CheapAir then switched to BTCPay Server, an open-source bitcoin payment processor. According to Klee, CheapAir now has much better control of the payment process and that the move has made it possible for “faster more efficient order processing than before.”
The travel agency is one of the biggest competitors for both crypto and fiat-based agencies in an ever-changing industry. Jeff Klee said that he likes “customers who pay in crypto because they are loyal.” He further stated that not only is the crypto community loyal but also inclined to “buy higher ticket items”.
When asked whether CheapAir would consider joining the ICO bandwagon in the future, Klee insisted that there is no definite plan to launch an ICO and that the company’s main focus was on delivering the best customer service.
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