CheapAir shifts its payment option from Bitcoin processors to others
Web travel booking portal CheapAir announced on Friday, that it will shift its payment options from Bitcoin post change in service by its partner, Coinbase.
CheapAir was among the first companies to accept bitcoin as a payment option on their website in 2013. The company made an announcement on its blog that they will now proceed to accept bitcoin payments via Bitpay.
"We were recently informed by our processing partner, Coinbase, that they will no longer support 'custodial' solutions for merchants, and are removing a number of the tools and features that we rely on to accept bitcoin from CheapAir.com shoppers," CheapAir wrote. "These changes are scheduled to occur in a matter of weeks."
According to CheapAir, one of the best features of Coinbase was its ability to convert digital coins to fiat currency and perform the transactions, as airlines and hotels would only accept traditional currencies.
The company also mentioned that it might start accepting other virtual coins like Bitcoin cash, litecoin, and dash in the future. In 2014, the travel portal started accepting litecoin and dogecoin by way of GoCoin, another cryptocurrency payment processor.
The company also said in the blog post that it is in the process of collaborating with Bitpay, to continue the transactions in Cryptocurrency.
However, the issue with Bitpay is that they do not support “non-payment protocol wallets” (wallets that aren’t BIP-70 compliant). Hence if the users do not have a compatible wallet, they will have to purchase an intermediate for the transaction to take place.
Lastly, the blog has asked for suggestions and views from its users, regarding the developments taking place and how they feel about it.
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