While the global financial authorities are still wondering whether upcoming Facebook Libra stablecoin and cryptocurrency overall is a real threat to the financial services market, one of the leading airline companies has introduced bitcoin payments for its passengers.
July 26, 2019 | AtoZ Markets - As per media reports, Norwegian Air Shuttle will allow bitcoin payments for its passengers. Apart from that, Norwegian business magnate Bjørn Kjos and his family who own Norwegian Air will launch their own crypto exchange.
Norwegian Air is ready to accept bitcoin payment
Norwegian Air is a low-cost airline and Norway's largest airline. It is one of the giants in the air travel industry in Europe with a fleet of 195 aircraft servicing over 500 routes.
The local business newspaper has reported, that the Norwegian aircraft company will not only introduce bitcoin payment for the passenger but will also launch its own crypto exchange.
As per reports, the Norwegian Air crypto exchange dubbed as Norwegian Block Exchange (NBX) will see the light in late August this year.
Once the exchange is launched, it will act as a payment solution to the Norwegian Air Shuttle, which is the third major cheap-cost airline in Europe.
According to the media, after the initial rollout, the exchange will spread its services to the neighboring countries in the coming months.
The aircraft company plans to start providing a bitcoin payment solution for Norwegian Air Shuttle customers this autumn. The passengers will be enabled to buy tickets using this new solution instead of using their credit cards.
The new Norwegian Air crypto exchange (NBX) will allow users to earn cash points by trading and will be integrated into the current rewards program of Norwegian Air. The points earned on NBX can then be used for ticket discounts and other interesting perks for customers. Stig A. Kjos-Mathisen will be the head of the NBX.
Giant corporations to introduce a bitcoin payment
Norwegian Airlines is not the first company in the market to introduce bitcoin payment for its customers.
In March 2019, Digitec Galaxus, the biggest Swiss online retailer, enabled its platform users to pay for their purchases with cryptocurrencies.
According to the report, Digitec Galaxus decided to use cryptocurrency to increase its customer base and attract more young people.
The US Telecom giant AT&T introduced its bitcoin payment service in May 2019.
This summer Portuguese soccer giants Benfica have partnered with Utrust, a cryptocurrency payment solution company, becoming the first club in a top-flight European league to accept crypto payments.
As per local media report, the idea of the bitcoin payment system integration in the air travel came from the Norwegian Air founder of Bjørn Kjos and his family.
The magnate’s son, Lars Ola Kjos, a well-known bitcoin investor is also a board member of Norwegian Block Exchange, which the Kjos family owns almost outright, according to the report.
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