Online travel booking agency CheapAir.com said Friday that it will switch bitcoin payment processors following a service change by Coinbase.
CheapAir.com - which began accepting bitcoin back in 2013 in a first for the global travel industry - explained the move in a blog post, revealing it is eyeing a move to accept bitcoin payments through Bitpay.
"We were recently informed by our processing partner, Coinbase, that they will no longer support 'custodial' solutions for merchants, and are removing a number of the tools and features that we rely on to accept bitcoin from CheapAir.com shoppers," CheapAir wrote.
"These changes are scheduled to occur in a matter of weeks."
According to CheapAir, the process that converts the bitcoin it receives from customers to fiat currencies is key to the platform's ability to accept the cryptocurrency, since traditional airlines and hotel services only take fiat currencies as payment.
The company also said that, as part of the shift, it's looking at accepting other cryptocurrencies, naming bitcoin cash, dash and litecoin as potential options.
CheapAir announced in 2014 that it was accepting litecoin and dogecoin by way of GoCoin, another cryptocurrency payment processor.
While CheapAir said the integration with Bitpay has already completed, it foresees the adoption may not be as smooth as previously.
"This is where we'd love your input."
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Travel Booking Site CheapAir Is Switching Bitcoin Payment Processors
gepubliceerd op Apr 23, 2018
by Coindesk | gepubliceerd op Coinage
Vermeld in dit artikel
Coinbase CEO explains why they sell blockchain analytics software to the U.S. secret service
Coinbase was in the crosshairs over the weekend after SEC filings revealed the business licensed transactional information software to regulators.
Crypto industry still wants a 2020 Ethereum 2.0 launch despite skepticism
A big story in the crypto industry over recent days has been the roll-out of Ethereum 2.0 - an upgrade slated to overhaul the inners workings of the blockchain to make it exponentially more usable and decentralized.
Blockchain Bites: Crypto's Bailout Millions, Brazil's Binance Ban, Lightning's Bug
At least 75 crypto and blockchain firms received approximately $30 million in government-backed PPP loans during the COVID-19 economic crunch while Binance continues to donate personal protective equipment equipment through its charitable wing.
Blockchain Bites: CENTRE's Blacklist, Brazil's Stablecoin Boom and Coinbase Is Going Public?
Coinbase is said to be preparing to go public, CENTRE blasklisted a decentralized address and U.S. sanctions on China could trickle down to crypto brokerages.