Charter

Vertis Aviation now accepting digital currency payments

Vertis accepted payment for its first cryptocurrency invoice on completion of a charter in mid-March when a customer travelling within the US settled the balance with digital Bitcoin.

To realise the payment GlobalBlock pre-authenticated the customer eligibility using blockchain-supported digital credit checking systems, managed the trading of the Bitcoin to US dollar fee, and then administered the transaction from the customer to Vertis’ digital wallet.

The payment process removes traditional banking administration fees, and timing, which increases transaction efficiency.

Vertis Aviation chief operating officer James Foster said: “Vertis prides itself on delivering a highly personalised offering to its customers, while embracing the benefits of technology to enhance the service experience.

“We anticipate that digital currencies will play a significant role in an increasing number of transactions going forward and it is our intention to support the introduction of this relatively new payment method to the industry.

 “With the inherent simplicity, low transaction costs and speed of transactions, digital currencies add clear value to the Vertis offering. It improves the customer experience, enhances relationships with our partners, and boosts our efficiencies.

“In the fast-paced, global nature of the business aviation charter market, we are delighted to be one of the first charter providers to offer this capability to all our stakeholders.”

GlobalBlock director David Thomas added: “With over 191 million crypto accounts globally, more and more companies are looking for a way to facilitate payment in digital assets.

“We anticipate our alliance will support the business aviation sector’s recognition of cryptocurrency as a convenient, simple, secure and cost effective way to capitalise on the expected market growth.”

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