Travelling overseas with different currencies and credit cards is a pain — maybe airport payments is the first true use case for cryptocurrencies?
Back in January, Brisbane Airport announced a partnership allowing customers to use cryptocurrency as payment at all retail outlets in the airport.
On Sunday, it’s now a practical reality.
It’s the end result of a partnership between Brisbane Airport and travel by it, an Australian startup focusing on payment platforms designed to help travellers pay for trips using cryptocurrencies.
Right now, there are 30 retails stores in Brisbane Airport, where you can use Bitcoin and multiple other cryptocurrencies to pay for goods. Caleb Yeoh, the co-founder and CEO of TravelbyBit, says it’s just the beginning.
“We did a test for two weeks and we launched it last week,” said Yeoh. “We’re gradually rolling it out.”
“More are coming, we just need time to train up the staff.”
According to Yeoh, the payment systems are easy to use, and they have to be, particularly to build trust between retailers and customers.
“We’re just trying to build a real-world use case for the cryptocurrency,” Yeoh explained. “Bitcoin is perfect for travel, there’s no exchange rate issues or risk of credit card fraud.”
Bitcoin’s price has fallen dramatically since it spiked in December 2017. Back then the currency hit an all-time high of almost US$20,000. At the time of writing bitcoin is priced at US$7,600.