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.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Circle of Games (COG)—Web3's multi-gaming platform has raised a $1mn round from Nazara, with participation…
Unconference Bali 2024, Asia’s premier Web3 event, is poised to take center stage against the…
Tradeleaf, a leading FinTech company empowering global trade through digital solutions, recently celebrated a significant…
Foundership Global Accelerator, a prominent force in the Web3 & Emerging-Tech Community boasting over 10,000…
April 16, 2024 - Condo, the world's first real-world asset (RWA) meme token, was recently…
The Partisia Blockchain Foundation, at the forefront of crafting privacy-enhancing and interoperable blockchain platforms, today…