Webjet Now Accepting Bitcoin from Customers

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Webjet Now Accepting Bitcoin from Customers

In an announcement Webjet says that customers can now book holidays without opening their wallets as it has now started accepting Bitcoin in payment. Thus, the online travel agency became the first in Australia to accept Bitcoin. It says that now customers can purchase travel deals using the crypto currency software on their smartphones.

Nonetheless, so far the company has been accepting international credit cards and debit cards wherein it says that it accepts them if they are issued outside of the United States, Canada, United Kingdom, Australia or New Zealand. However if they were not issued in one of the above countries there is an additional US$25.00 fee.

Now that the company has decided to accept Bitcoin, it says that the payment option is being trialled on Webjet Exclusives — the holiday package arm of the global travel booking website — and could soon be introduced for flights, accommodation and insurance. With this move the company is moving a step ahead towards a seamless payment method.

Bitcoin that was launched in 2009 has become extremely popular for international payments. Being a decentralized, digital currency system that uses a global peer-to-peer network over the internet, Bitcoin is fast and anonymous; however, others criticize its volatility and vulnerability to drug crimes and money laundering.

Though the value of Bitcoin soared above $US1200 in October 2013, it fell below $US230 in the last couple of months. However, interestingly enough, the popularity of Bitcoin has gained momentum as several new organizations like Microsoft started accepting Bitcoin. Thus, it looks the diminishing value of Bitcoin has not been a deterrent.

Cost-Effective Payment Method

Talking to media professionals CEO of Webjet Exclusives Paul Ryan said the company had more new payment methods in the pipeline in the realm of mobile wallets. He added that the personal electronic wallet market is still pretty small but it’s growing rapidly around the world because of the perceived security.

Bitcoin can be used when the customers are booking their tickets that are then issued within two business days. The company sends the customers a confirmation email with all the flight details and the Ticket Number. At the same time customers can check their booking status at Webjet on the “MyTrips” tab.

The company showed its happiness regarding the decision to embrace Bitcoin which is transforming the way international transactions or payments are being carried out. This will also add new segment of customers who wants to save the processing fees which is nil while payment is done through Bitcoin.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com