Worldline offers Buy Now Pay Later service for travel payments
Industry data suggests consumers will spend more if Buy Now Pay Later (BNPL) is available
Payment services company and technology partner Worldline has launched a new BNPL service for the travel sector to meet increasing customer demand.
The company has partnered with Fly Now Pay Later, a travel payment provider, and the joint offering is available through Worldline’s existing TravelHub payment solution.
BNPL is an instalment payment solution, allowing consumers to make purchases and pay for them over a period of time. Industry data indicate that 68 per cent of travellers will spend more than usual on their travel plans and 49 per cent will buy ancillary services when BNPL is available.
Providers benefit from a higher conversion rate, improved average order value, and an increase in direct bookings by offering BNPL at the checkout. It also reduces fraud as travel providers receive the total payment upfront from the BNPL provider.
Established merchants on Worldline’s TravelHub can make use of this service straight away by adding a button to their checkout page and signing a contract with Fly Now Pay Later.
Damien Cramer, Global Head of Airlines and Travel at Worldline, said: “We’re excited to ensure that travel merchants can now benefit from the growing popularity of the BNPL phenomenon.
“Ultimately, through this service, merchants are well placed to gain additional customers attracted by the ability to spread the load of their holiday expenditure, while still enjoying the security of receiving a single up-front payment from the BNPL provider.”
Founder and CEO of Fly Now Pay Later, Jasper Dykes added: “We’re all about making sure that travel payments work for everyone, so welcome the opportunity to work with merchants to help their customers spread out the cost of a hotel, flight or holiday.”