|February 10, 2015|
UATP Connects With Bitnet Enabling Airlines To Accept Bitcoin Payments
|UATP has teamed up with Bitnet as a payment processing partner. This relationship will allow UATP to offer its Network of 260+ airlines the ability to accept bitcoin payments in a simplified manner.|
"We are very happy to be partnering with Bitnet to add bitcoin to our payment platform. We are always looking for skilled partners to bring additional forms of payment to the UATP processing platform and Bitnet fits the bill well," said Ralph Kaiser, president and CEO, UATP.
"Partnering with UATP was an obvious choice for Bitnet. Our partnership will make it easier for UATP's member airlines to accept payments in bitcoin via a lightweight integration that avoids impact to downstream systems and leverages existing UATP reporting and refund interfaces," said Akif Khan, Vice President of Solutions Strategy, Bitnet. "Bitnet and UATP share the same mission of lowering transaction costs and fraud risk for their clients."
The team behind Bitnet formerly worked at CyberSource and Visa Inc., gaining experience over a decade implementing payment and fraud management systems for airlines globally. This understanding of the airline ecosystem has informed the design of the Bitnet platform, in addition to identifying the key partners such as UATP within that ecosystem who can help to drive bitcoin adoption.
UATP is a global payment solution owned and operated by the world's airlines and accepted by thousands of merchants for air, rail and travel agency payments. UATP offers easy-to-use data tools, DataStream and DataMine, which provide comprehensive account details to Issuers and Corporate Subscribers for accurate travel management.
Accepted as a form of payment for corporate business travel worldwide by airlines, travel agencies and Amtrak; UATP accounts are issued by: Aeromexico; Air New Zealand; American Airlines; Austrian Airlines; China Eastern Airlines; Delta Air Lines; EL AL Israel Airlines; Etihad Airways; GOL Linhas aereas inteligentes S.A.; Hahn Air; Japan Airlines; Luhfthansa German Airlines; Malaysia Airlines; Qantas Airways; Shandong Airlines; United Airlines; and US Airways.
Bitnet provides a digital commerce platform enabling enterprise-scale merchants to accept bitcoin payments. With deep experience in the retail and airline sectors, Bitnet's engineering, product, and business development team helped build and manage the world's largest payment gateway, CyberSource (NASDAQ: CYBS), which was sold to the world's largest payment network, Visa Inc. (NYSE: V), for $2 billion in 2010. Bitnet has offices in San Francisco, California and Belfast, Northern Ireland.