The Yacht Break Accepts Bitcoin and Bitcoin Cash for Payments through BitPay
The Yacht Break is the first company to enable customers to purchase sailing holidays with cryptocurrency
CROATIA, 25 February 2020
The Yacht Break, an independent yacht charter broker that specializes in sailing holidays, today announced the company is accepting cryptocurrencies for online bookings. They have integrated BitPay, the largest global blockchain payments provider, into the online booking process. The ability to accept cryptocurrencies expands The Yacht Break further into international markets where credit cards are not always practical. The Yacht Break benefits by adding Bitcoin, Bitcoin Cash, Ethereum, and Ripple to the payment options. This helps by reducing high fees, as well as increasing payment transparency and efficiency.
The travel industry is increasingly embracing cryptocurrencies
Today’s global travelers are looking for new ways to spend their cryptocurrency. So this announcement provides customers with greater choice and more convenient ways to complete their holiday bookings. The travel industry is one of the world’s largest economic sectors, generating 10.4% of global GDP (WTTC). Furthermore, it is the second-fastest-growing after manufacturing. Enabling the use of cryptocurrencies for payments is an obvious next-step for travel industry businesses. Travelers could already book flights and hotels, and now they can buy sailing holidays as well.
“We are proud to be the first company to enable clients to spend their cryptocurrency on sailing holidays. We decided to accept Bitcoin because we want to give more choice to our customers. Sailing holidays are all about flexibility and freedom so it is fitting to give our clients the freedom to pay in more ways!” said Tilen Matjašec, founder of The Yacht Break. “We chose BitPay to manage our merchant processing because they make it easy and handle the entire process of getting the cryptocurrency from the customer and depositing cash into our account.” Along with his love of sailing, Tilen has a long-time passion for cryptocurrencies and has been at the forefront of providing this option for fellow crypto enthusiasts.
Integration of BitPay makes it safe and easy
Using BitPay, The Yacht Break receives settlement the next business day directly to its bank account in euros. There is no price volatility or risk to the company. As a push transaction, the user sends the exact amount of cryptocurrency needed to pay the bill. This eliminates traditional credit card fraud and identity theft risks associated with credit cards. Unlike the high cost of credit cards, BitPay charges 1% to approve the transaction and settlement. BitPay enables transactions from any computer or mobile device making it convenient for The Yacht Break customers.
“The Yacht Break realizes the potential for cryptocurrency to transform the Yacht Charter industry, making payments faster, more secure, and less expensive on a global scale,” said Sean Rolland, Director of Product Management at BitPay. “Our goal is to make accepting Bitcoin and Bitcoin Cash a seamless process.”
Bitcoin blockchain uses distributed ledger technology which is essentially an open, online spreadsheet. A major advantage is that blockchain provides incredible transactional transparency. It is impossible to use the blockchain for fraud as every transaction is verified, recorded and stored. One of the most critical elements of blockchain technology is that a transaction cannot be changed once reported in the ledger. This process creates a highly efficient service and a better experience for The Yacht Break customers.
About The Yacht Break
The Yacht Break is an independent yacht charter broker pushing the standards for providing sailing holidays for customers in Croatia. They transform dreams into real-life experiences, focusing on excellent customer service, attention to detail and knowledge distribution. The Yacht Break actively promote and educate travelers about Croatia through their market-leading website and social channels. For more information visit theyachtbreak.com.
Founded in 2011, BitPay pioneered blockchain payment processing with the mission of transforming how businesses and people send, receive, and store money. Its business solutions eliminate transaction fraud, reduce the cost of payment processing, and enable borderless payments in cryptocurrency and fiat, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Visa® Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America. It has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information visit bitpay.com.