A deal was signed between the Spanish low-cost airline Vueling and Criptan to look into the usage of NFT technology and cryptocurrency payments in 2023.
The ability to connect people, organizations and cultures globally depends on aviation. Over this, the growth of the industry is linked with the socioeconomic environment and how it changes over time. Additionally, both operationally and managerially, technological improvements and inventions of all kinds have an impact on aviation every day. For instance, many airlines are making investments in the usage of NFT technology. The newest addition to the list is low-cost carrier (LCC) Vueling. Take a look at what the Spanish airline has planned.
During the second half of 2023, Vueling intends to accept NFT payments.
The International Airlines Group (IAG) subsidiary Vueling Airlines and the cryptocurrency trading platform Criptan announced a partnership on January 13th, with both sides looking into the possibilities. is sufficient. aiming to introduce NFT technology and, as a result, cryptocurrency payments.
According to Vueling, the deal with Criptan will enable the airline to increase convenience for its customers by enabling them to pay for airline tickets with cryptocurrencies. The Universal Air Travel Plan (UATP), a global payment network for the airline industry, will be used by Vueling Airlines to create this service. Together with a specialist in blockchain technology and NFTs, Vueling plans to look into the practicality of incorporating cutting-edge payment methods while utilizing digital technologies to continuously enhance the user experience.
Assume Criptan and Vueling’s partnership is a success. The Spanish low-cost carrier would be the first in Europe to start accepting cryptocurrency payments in this case. According to Vueling, customers will be able to buy tickets in this way starting in the second half of 2023.
Jesus Monzo, Manager of Distribution and Alliances at Vueling, offered the following insight on the just-announced partnership:
“This agreement keeps us at the forefront of new technologies and innovation, further reinforcing our commitment to our customers and providing the best and most advanced tools and solutions on our website.”
On the other hand, Krypton CEO George Soriano emphasized how the partnership plans to exploit the simplicity brought about by the acceptance of bitcoin and the Web3 ecosystem to raise the bar for customer experience in the aviation industry.
What is the future of air travel?
The recently announced partnership between Vueling and Krypta demonstrates the company’s steadfast dedication to financing its growth through innovation. Other airlines have imitated the Spanish airline, even though it will be the first in Europe to use NFT technology.
AirBaltic, the national airline of Latvia, for instance, asserts that it was the first airline in the world to take bitcoin as payment for tickets. To enable its 300 member airlines and travel retailers to provide such cutting-edge payment forms to their customers, the Universal Air Travel Plan (UATP) will team up with BitPay, a bitcoin payment service, in 2021.