Airline Company Air Arabia Now Accepts Cryptocurrencies for Ticket Purchases
In a significant leap towards digital payments, Air Arabia, the Emirati low-cost carrier, has announced its partnership with Maryah Community Bank (Mbank) to accept crypto payments for ticket purchases.
Effective immediately, customers can now make flight bookings using the AE Coin stablecoin, which is pegged 1:1 to the UAE dirham. The decision is aimed at offering price stability, enhanced security, and low transaction fees, setting Air Arabia apart as the first airline in the UAE and the Middle East to accept cryptocurrency payments for flight bookings.
To facilitated this transition, customers can utilize the AEC Wallet App, which supports AE Coin transactions. Upon booking a flight on Air Arabia's website, users will see the AEC Wallet option at the checkout stage. The secure payment process ensures a fast and stable transaction experience.
Speaking on the partnership, Adel Al Ali, Group CEO of Air Arabia, said, "We are committed to digitalization and believe this collaboration will enhance the customer experience by offering them smart solutions that provide value, choice, and flexibility."
Mohammed Wassim Khayata, CEO of Mbank, commented, "This partnership not only improves the booking process but also contributes to the UAE's broader goal of creating a digitally empowered financial ecosystem."
This development aligns with the UAE's vision of a digital-first economy and marks another milestone in embracing digital payments in the country.
[1] AE Coin: UAE's First AED-Backed Stablecoin[2] AEC Wallet App: A Secure Platform for AE Coin Transactions[3] UAE Opens First Crypto-Friendly Gas Stations[4] Maryah Community Bank (Mbank): UAE's First Fully Integrated Digital Bank
- This partnership between Air Arabia and Mbank, as Air Arabia becomes the first airline in the UAE and the Middle East to accept cryptocurrency payments for flight bookings, aligns with the UAE's vision of a digital-first economy.
- The decision to accept the AE Coin stablecoin, pegged 1:1 to the UAE dirham, for ticket purchases aims to offer price stability, enhanced security, and low transaction fees, setting Air Arabia apart in the news of digital payments.
- With the AEC Wallet App, customers can now utilize a secure platform for AE Coin transactions when making flight bookings on Air Arabia's website, easing the transition towards digital payments in the realm of business and technology.
- Amidst the growing trend of digitalization in the financial industry, the introduction of the UAE's first AED-backed stablecoin, AE Coin, marks another step in the history of finance and technology, paving the way for a more digitally empowered future in the region.
