Bitnet Partners with Universal Air Travel Plan to Enable Bitcoin Payments

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term payment processor Bitnet has partnered with Universal Air Travel Plan (UATP) to enable the possibility of bitcoin Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term for partner airlines.

The UATP is a payment network owned jointly by airlines including American Airlines, British Airways, Lufthansa, JetBlue, Qantas, US Airways and United Airlines.

Although the deal does not necessarily entail that individual airlines will begin accepting bitcoin, it does give them a more convenient avenue should they decide to do so - similar to Shopify's enabling of a bitcoin option for its merchants.

The partnership also means that UATP can educate its partner airlines about Bitcoin and how it can help cut costs stemming from fees and chargebacks. In addition, there can be savings on foreign exchange fees arising from the differing global locations between airlines and consumers.

Ralph Kaiser, president and CEO of UATP, found Bitnet to be a worthy partner, its team having valuable experience in the payments industry. "We are very happy to be partnering with Bitnet to add bitcoin to our payment platform. We are always looking for skilled partners to bring additional forms of payment to the UATP processing platform and Bitnet fits the bill well," he said.