A2Z School of English has become the first language school in the world to accept the internet currency, Bitcoin payments. The school, which has branches in London, Manchester and Dublin, started accepting payments using the digital currency for its courses and accommodation on 5 November. Customers using Bitcoin will pay the same rate as those using sterling or euros, and can set up payments through an online registration system.
“We are working hard to be the most innovative English language organisation in the world”
Operations director Rishi Maudhub said that it makes sense for the school to explore digital payments, given its investment to date in technology for the classroom. He told The PIE News: “It’s great to have a payment method that is complementary in its technological nature.”
“Why not do it now? No one else is doing it now,” he added. “We’ve invested heavily to make sure that it’s a secure medium. There’s no point waiting for a competitor to come along and try it first.”
Although no students have officially registered for Bitcoin payments yet, Mr Maudhub told The PIE News that interest has been high, particularly in South America, the Middle East and some countries in Asia. He anticipates that 25% of A2Z’s students will use Bitcoin as their preferred payment method within the next 12-18 months.
He explained that the e-currency is attractive to students and agents because it is stable and enables users to avoid the credit card fees and bank charges usually incurred when transferring money abroad.
A2Z founder James Taylor said: “We are working hard to be the most innovative English language organisation in the world. We are not aware of any other English language school that accepts Bitcoin at the moment. As well as using a highly unique method based on high speed speaking (The Callan Method), we are now rolling out innovations to the rest of our operations. We want to be a fast company!”
Bitcoin was first introduced as a decentralised digital currency in 2008, and has gained popularity in the wake of the global financial crisis.
