UK-based Corporate Traveller is in deal with Bitcoin and blockchain payments provider BitPay to facilitate payment using cryptocurrencies for its SME customers for business travel bookings. Corporate Traveller will accept bitcoin and bitcoin cash payments.
BitPay will handle the entire process of getting the Bitcoin or Bitcoin Cash from the customer and depositing cash into Corporate Traveller’s account. The customer will have to send the exact amount of Bitcoin or Bitcoin Cash needed to pay the bill as a push transaction.
The payments received through BitPay in Bitcoin or Bitcoin Cash will be settled directly in Corporate Traveller’s bank account within two business days in pounds sterling.
The business traveler can make the transaction from any computer or mobile device and invoices can be generated by an email invoice, or as an online eCommerce transactions.
Corporate Traveller said it added the facility after it identified an increasing demand from its clients for including the option to pay in cryptocurrencies for business travel bookings made by its travel consultants.
Paying in cryptocurrencies is seen as the most preferred method among the new generation as they benefit from easy, fast and secure transactions at lower transaction fees. This will also help customers conveniently shop without having to enter any card information for online payments.
The company is looking to take advantage of the expected strong growth in Bitcoin users from the current less than 10 million to more than 200 million by 2024. The global mobile payment revenue is also estimated to reach more than $1 trillion in 2019.
While BitPay still remains focused on Bitcoin for executing payment transactions, it recently added settlement support for Bitcoin Cash and three U.S. dollar-backed stablecoins – USD Coin (USDC) from Circle, Gemini dollar (GUSD) from Gemini and Paxos Standard token (PAX) from Paxos.
Source: Read Full Article