Volaris, the El Salvador-based airline, will start accepting Bitcoin payments. This is according to Nayib Bukele, the President of El Salvador. In a tweet, the President said the ultra-low-cost airline would accept Bitcoin payment to enhance its services. Volaris also confirmed the same through a tweet.
In a new law enacted by the El Salvador government, all businesses are to accept Bitcoin as a form of payment. However, businesses must have the appropriate technology to do so before accepting this payment method.
In an emailed statement, Volaris says its website is international and complies with all jurisdictions’ requirements where it operates. The statement further says that Volaris is working to give its clients to pay with Bitcoin for all its services. The compliance with the new Bitcoin law means many of the major companies in El Salvador have implemented it.
Other Airlines Accepting Bitcoin
While Bukele proudly announced on his Twitter account that Volaris would be the first airline in the world to accept Bitcoin as a form of payment, several carriers have already announced they will start accepting the world’s leading cryptocurrency. One of the most prominent airlines that said it would accept crypto is Latvia’s Air Baltic. This airline announced back in 2014 that it would be the inaugural carrier to accept Bitcoin. It has recently added other cryptocurrencies like Ether, Cash, and Dogecoin.
In 2015, Openpay, a payment service provider, said TAR Airlines would become the first Latin American airline to accept Bitcoin. Surf Air, an airline based in Los Angeles that provides charter flights through various membership plans, would also start accepting crypt payments back in 2017.
Volaris Bitcoin Plan
Volaris plans to accept Bitcoin payment for all of its services. Whether it is travelling or sending packages, people can pay using Bitcoin. Similarly, various services at the airport like accommodation and residents can also be paid for using Bitcoin.
While Volaris basks in the spotlight for its Bitcoin acceptance, the booking engine Alternative Airlines also allows travellers to book their tickets using Bitcoin.
This is possible even for those airlines not directly offering cryptocurrency as a form of payment. Speaking at an event to mark Volaris’ new airline based in El Salvador, Bukele said accepting Bitcoin will revolutionize the airline industry. Being an established airline in the region, Volaris is also known for its extensive operation in Mexico and Costa Rica.
In September, El Salvador became the first country to adopt Bitcoin as its official coin. It also became only the third nation and first-ever county to airdrop Bitcoin to its citizens. Bukele’s influence in El Salvador is enormous, with flamboyant President being the driving force behind Bitcoin’s presence.
Bukele encourages Salvadorans to buy Bitcoin and has made it even easier by implementing the Bitcoin law. This means that all businesses in El Salvador will start accepting Bitcoin as a form of payment. With Volaris complying with the law, it remains to be seen how the country’s economy will perform.