PrivateFly, a private jet booking service, has responded to increasing demand from clients who want to pay with virtual currency.
Already in use across industries ranging from food services to fashion, the cryptocurrency has now made its debut in the air travel sector with PrivateFly, which claims to be the first private jet booking network to accept bitcoin. The new payment option is said to offer more flexibility and convenience to clients.
By paying with bitcoin, travelers can reserve a private jet at any time of day or night, without worrying about whether the bank is open to transfer the payment. After all, the price of booking a private jet is typically over €20,000, so settling the bill can require more than a simple swipe of a credit card.
"By using BitPay to make the transaction, we instantly convert the amount into euros or sterling to minimize the risk. This approach is already in use at all of the international companies that already accept Bitcoin," explains Mehdi Dialmy, head of the flight department at PrivateFly.
PrivateFly points out, however, that bitcoin payments currently account for less than 5 percent of its revenues and are not expected to overtake other payment methods.