Giant Asian Online Ticketing Agency Implements Lightning Network Transactions to Cut Down Cost and Time of Services

Future.Travel, a Vietnam-based global Online Ticketing Agency is now accepting Bitcoin payments via the Lightning Network. The agency has partnered with Canadian company, Neutronpay and is using their multi-currency platform for this newly integrated option. The funds will be converted into the local Vietnamese currency at the time of sale. 

According to the announcement, the use of the Lightning network will enable faster transactions than the standard protocols currently in use for normal Bitcoin transactions. It will cut down the BTC transaction processing time to 3 to 4 seconds, as compared to normal transactions which take several minutes to hours. 

Notably, Future.Travel has been supporting Bitcoin payments for more than 6 years now. The platform recently added support for other currencies like Litecoin, Bitcoin Cash and Ethereum. The company claims that the Lightning Network payment methods are given equal attention as cash payments, so consumers are not paying any extra credit card fees. Another benefit of this integration mentioned by Future.Travel is the elimination of online fraud and its associated credit card charge-backs. 

According to David Watson, General Director at Future.Travel, the ability to offer consumers real-time secure financial transactions is crucial in developing a reliable, trusted and growing online business. He said the Lightning Network is the next step to reducing overheads of both cost and time. 

Before the COVID-19 crisis, the travel industry was one of the best performing industries in the world. Of late, some industry players have been showing keen interest in the blockchain and other emerging technologies. In November 2019, German-based airline Hahn Air, started issuing tickets on the blockchain through a partnership with a decentralized platform, Winding Tree. Another industry service provider Travala, which accepts digital currency payments has been steadily expanding its crypto payments. 

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