- With partnership, Peninsula Visa has become the first company to offer Bitcoin payment options for U.S. Visa.
- The partnership agreement ensures that Coinbase processor will be used to secure Bitcoin payments.
- Only four passport services supported presently, but many more will be added next year.
In the global world, digital currencies are gradually taking the center stage as a viable means f payment. And the last few months have seen more adoption of cryptocurrency payment by several merchants across the globe. Government institutions are also not left behind in the race to become a top player in the ever changing digital market.
Now, Coinbase crypto exchange has partnered with Peninsular Visa for the public to make Bitcoin payments for the U.S. passport services possible. This will be the first of its kind for the US passport services.
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The partnership means Silicon Valley-based firm Peninsular Visa is now offering support for Bitcoin payments.
Peninsula Visa first to offer support for Visa payment
Based on the announcement, the Coinbase processor will also be used to secure the Bitcoin payment.
In a press release, the Peninsula Visa announced its integration plans to allow Bitcoin payments for some of its services. Within the next 12 months, its customers can access its ‘BTC benefit’ through the Coinbase Commerce platform.
The operating officer of Peninsula Visa, Evan James, has commented on the partnership. He said the collaboration means Peninsula Visa has become the first company to support Bitcoin payments for the U.S. passport services.
“Never before has anyone been able to pay for a US passport using a digital currency,” he stated.
Bitcoin payment is enabled for only four passport services
James further reiterated that the Bitcoin payment services currently support four types of passport services, but many other services will be supported next year.
The four services presently supported include, name change, passport renewal, second passport, and second passport renewal.
More Crypto adoption in the Travel industry
The travel industry has seen increased cryptocurrency adoption, and many more industries in the sector are warming up to its adoption.
Last year, a U.K. online travel agency partnered with Utrust to launch a cryptocurrency payment service. As a result of the partnership, millions of its customers were able to pay for flight tickets using Bitcoin and other digital currencies.
On a similar note, a company based in Bulgaria is planning to compensate its customers for delayed or canceled flights using Bitcoin. Other industries like the food delivery industry are also experiencing a high increase in Bitcoin payment adoption.