Vertis Aviation has partnered with UK-based digital asset trader GlobalBlock and can now accept payments in four digital currencies – Bitcoin, Tether, Ethereum and USDC. Fees related to any Vertis product, including charter flights, charter management programme administration and aviation consultancy, can now be settled using one of the digital currencies.
The Swiss-based aviation firm accepted payment for its first cryptocurrency invoice for a charter in mid-March when a customer travelling within the US settled the balance with Bitcoin. To make the payment happen, GlobalBlock pre-authenticated the customer’s eligibility using blockchain-supported digital credit checking. It then managed the trading of the Bitcoin to US dollar fee before administering the transaction from the customer to Vertis’ digital wallet.
The payment process removes traditional banking administration fees and timing, which increases transaction efficiency.
James Foster, chief operating officer, Vertis Aviation, 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.”
The digital platform gives Vertis the ability to resolve balances in much more quickly. “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,” added Foster.
David Thomas, director at GlobalBlock said, “Like Vertis, GlobalBlock is proud of the personalised service we offer our clients and this shared vision will provide Vertis customers with a streamlined digital currency experience. With over 191m 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. We are excited by the possibilities of working with Vertis and the business aviation community.”
Foster concluded, “Our customers have been indicating their interest in using digital wallets to pay for our services for some time. Working with an organisation that shares our core values in providing a personalised service in an otherwise digital space is essential. We are already gaining traction having made this strategic move and anticipate an increasing number of clients will take advantage of this payment option.”
