Bitcoin Now Boarding: Japan’s Peach Aviation Takes Bitcoin for Fares

It wasn’t so long ago when the Japanese government made a huge move to legitimize bitcoin and make it a usable part of society. While there’s been plenty of skepticism all around, one company has jumped in after its government, and Peach Aviation now takes bitcoin for tickets.

Peach Aviation focuses on low-cost flights to destinations throughout northeast Asia, particularly China and South Korea, and with this move, will allow customers to pay for their tickets with the ultimate mobile payment: bitcoin.

Japan in general has become increasingly fascinated with the cryptocurrency, and that’s meant several firms have taken advantage of it for marketing. Reports suggest around 260,000 stores in the country will accept bitcoin for payment, so it’s clear there’s plenty of interest here.

Reports suggest that Peach started taking bitcoin as a means to appeal to younger customers, particularly younger Chinese customers who are increasingly comfortable with such currency as well as increasingly sensitive to currency movements with other countries. Additionally, it helps drive interest from Chinese tourists, who are increasingly viewed as a valuable, high-spending market.

Though airlines like Peach, which focus on low-cost no-frills travel, are still having a difficult time breaking into the market, a move like this may be particularly helpful here. After all, it’s clear that Peach is going after a potentially huge market: the recently-minted fairly-affluent Chinese middle class.

China hasn’t even had a middle class all that long, so they’re still trendsetters in their way. Pursuing this group more actively should help give Peach a leg up in the market and even potentially pull some business away from larger, more established firms that don’t have the necessary agility to switch payment strategies in mid-stream.

Peach Airlines’ move to bitcoin could ultimately be a winner. Though it’s hard a tough time breaking into the market of established airlines, its acceptance of bitcoin might well let it break into an ultimately more secure niche.

Few likely expected bitcoin to have this level of value going for it, but here it is: the cryptocurrency most once thought the province of criminals and speculators is developing value for everyone else as well.