March 31, 2025 Acquiring, Competitive Strategies, Digital Currency, E-Commerce, Mobile Commerce, Real-time Payments, Transaction Processing
Two private-jet operators early Monday announced news about their acceptance of cryptocurrency, raising yet again questions about the usefulness of digital currency both for luxury spending and everyday shopping.
Clearwater, Fla.-based Hera Flight said it has started accepting Bitcoin, Ethereum, and other cryptocurrencies for charter flights. Meanwhile, Paramount Business Jets in Leesburg, Va., reported what it called a “notable increase” in the number of its clients relying on cryptocurrency to pay for flights, without specifying a number.
Paramount says it has been taking crypto since late last year, with Bitcoin and Ethereum as the most frequently used coins. It cites “lower fees” for acceptance of the coins compared to credit cards, and also points to what it calls the “enhanced security” inherent in blockchain transactions. Altogether, the company says it can accept more than 120 crypto coins.
Hera Flight meanwhile says it will now accept cryptocurrencies for both charter flights and memberships in its Jet Card program. Like Paramount, the charter company points to what it views as the added security of crypto transactions. “This initiative aligns with our vision to stay at the forefront of private aviation and provide more payment options to our customers,” says Jonathan Hollar, chief operating officer and co-owner of Hera Flight, in a statement.
Unlike the local general store, high-end travel options like chartered flights could be a potentially lucrative market for crypto, some experts say. “This appeals to people who have made a fortune in crypto and gives them something to spend it on,” says Aaron McPherson, principal at AFM Consulting.
For merchants unhappy about the cost of accepting credit cards—particularly for luxury purchases like charter flights—crypto could have considerable appeal, McPhersons says. “Merchants are always looking for a way to escape interchange,” he notes. Indeed, crypto “could be cheaper if the valuation doesn’t go down,” he says.
What’s more, the crypto option carries the potential of offering a crypto-linked debit card, he says. “That’s a way people can spend their Bitcoin or Ethereum without going through the step of liquidating it on an exchange,” he adds.
But the volatility of Bitcoin, Ethereum, and most other cryptocurrencies means most businesses, high-end ones especially, will likely investigate stablecoins, McPherson argues. “Stablecoins are more likely to become a mainstream payment method,” he says, This form of crypto is tied to the value of a national currency, such as the dollar, and so is not subject to the often extreme swings in value seen with Bitcoin and other cryptocurrencies.
While the potential crypto users in both of the jet-charter scenarios are not likely to be the average shopper, some observers note the moves by the two companies reflect confidence the coins they accept will not lose value, at least for the long term. Still, “if I were a business, I’d be going that route,” notes McPherson, referring to stablecoins.
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