Topic: [2017-05-22] Peach Becomes Japan's First Airline to Accept Payment in Bitcoin (Read 4345 times)

Peach Aviation Ltd. will become the first Japanese carrier to accept bitcoin as payment for airline tickets as the discount airline aims to attract more tourists from other parts of Asia.

The cryptocurrency can be used to book seats starting by the end of the year, Peach said in a statement in Tokyo Monday, adding a change in Japan’s law on fund settlements in April helped facilitate the move. The carrier also aims to increase tie-ups with local governments and regional companies to help spread usage of the currency, it said.

“We want to encourage visitors from overseas and the revitalization of Japan’s regions,” Shinichi Inoue, chief executive officer of Peach told reporters in Tokyo Monday. “This is a real first step in partnerships for Japan and we are aiming for more company and service tie-ups.”

Bitcoin is surging in popularity as the digital payment system that allows users anywhere in the world to transact directly without interference from intermediaries, governments, regulators or central banks. Latvian airline airBaltic announced almost three years ago that it would start accepting payment using bitcoin as it focuses on the customer.

The electronic currency surged as much as 13 percent to a record $2,187.78 on Monday, and is trading about 70 percent above the price of an ounce of gold, according to data compiled by Bloomberg. It has more than doubled its value since the beginning of the year amid global political uncertainty and increased interest in Asia. Skeptics have said that there may be a bubble in the making, as bitcoin has repeatedly broken records without showing signs of slowing.

Universal Air Travel Plan teamed up with Bitnet as a payment processing partner more than two years ago to allow it to offer the ability to accept bitcoin payments in a simplified manner to its network of more than 260 airlines, according to a statement from UATP.
https://www.bloomberg.com/news/articles/2017-05-22/peach-becomes-japan-s-first-airline-to-accept-payment-in-bitcoin
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Another Reason to go To Japan

Alternative Source NHK Newsline Video
https://www3.nhk.or.jp/nhkworld/en/news/20170523_28/

Budget carrier Peach Aviation is set to become Japan's first airline to accept bitcoin as payment for tickets.

Japan lags behind some other countries in embracing the virtual currency, which is known for its low transaction fees.

(In a giant finger to Forex)
Peach Aviation plans to install bitcoin ATMs at airports.
It hopes local shops will also let customers use the virtual currency.

Peach representatives say they hope the system will attract more tourists from abroad. The company plans to start accepting bitcoin payments by the end of the year.

Peach Aviation is in the same group as All Nippon Airways and Vanilla Air. Neither company currently has plans to start accepting bitcoin.