World's First Public Transport Company to Accept Bitcoin Payments

According to bitcoin.com, Isilines, the third largest bus company in France, has begun accepting Bitcoin payments. It is reported that this is also the first company in the bus industry to accept cryptocurrency.

Partner is Paymium

To accept bitcoin payments, Isilines has partnered with French startup Paymium, which is similar to Coinbase and provides merchant processing and other services focused on compatible transactions between bitcoin and the euro.

The Paris-based startup also operates over-the-counter and live trading platforms, in addition to other services including corporate payment processing and sending bitcoin via email, all of which are compliant with the European Payment Services Regulation.

Six-month trial

It is reported that Isilines accepted Bitcoin payments through Paymium on August 2. According to French news media ITespresso, the trial will last for six months. After the trial, Isilines will evaluate the results.

Paymium currently offers a 6-month free trial for merchants who integrate Bitcoin payments. After the free trial period, it will charge a standard fee of 0.59％ . However, even if there is a transaction fee, its rate is lower than that of traditional credit cards. "This new service is part of our breakthrough innovation policy," said Richard Dujardin, CEO of Transdev France, in a statement.

According to ITespresso's website:

“It takes 10 minutes for the transaction to be verified and the Bitcoin funds are then instantly converted into Euros, allowing travelers to avoid the high transaction fees associated with credit card payments.”

The third largest bus company in France

Isilines is a subsidiary of the Transdev Group, which is 60% owned by French state holding company Caisse des Depots et Consignations. It is also the third largest bus company in France, after Munich's FlixBus and Ouibus.

Do you think accepting Bitcoin payments will help Isilines reach their goal of profitability faster? Leave your comments below.