CheapAir Ceases Doing Business with Coinbase, Will Move On to Bitpay
One of the world’s most popular travel agencies, CheapAir.com, announced that it will cease doing business with leading cryptocurrency exchange and digital wallet provider Coinbase. CheapAir had been using Coinbase as its primary cryptocurrency payment processor, for all clients who were using crypto to pay for their travels and bookings. Interestingly, CheapAir became the first online travel agency to accept cryptocurrencies as payments all the way back in 2013. In a letter written by CheapAir to its clients, they noted the issue in clearcut terms..
“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. These changes are scheduled to occur in a matter of weeks.”
CheapAir had been using Coinbase’s services to automatically convert all crypto transactions into fiat currency as soon as they are processed by the customer.
As a solution, CheapAir looks to begin doing business with an alternate crypto payment processor named Bitpay..
“Our intention at this point is to use BitPay as a processor. We have had a great experience with them so far and our integration is largely complete. But our one giant concern is that Bitpay does not support “non-payment protocol wallets” (wallets that aren’t BIP-70 compliant). So if you do not have a compatible wallet, you would have to get one and use it as an intermediate stage for your Bitcoin payment.”
As opposed to dwelling on their loss of Coinbase’s services, CheapAir progressively is taking this as an opportunity to start anew and improve their services and relationships with cryptocurrency paying clients. Following the move to Bitpay, CheapAir aims to further improve their crypto processing abilities by accepting a number of new cryptocurrencies including Dash, Litecoin, and BitcoinCash. In addition, the company expressed its interest in creating a customer service team specializing in cryptocurrency payments, thereby allowing customers to call and email specialists who are well versed in the industry. CheapAir admitted to having some frustration at times in the past, concerning the regular call center not being as helpful as it should have been with cryptocurrency transactions. Bitpay, has been growing tremendously and its services are being used in an increasing amount of companies.