Payments company Worldline has teamed up travel fintech provider Fly Now Pay Later to launch a buy now, pay later service for the travel sector.
The BNPL service is available for merchants who are connected to TravelHub, Worldline’s payment technology for travel merchants. It offers more than 150 payment methods and currencies, multi-acquiring, tokenisation and a range of fraud prevention services. It is available via a single integration with single reporting and settlement.
Research suggests that 68 per cent of travellers will spend more than usual on their travel plans using BNPL. While 49 per cent would buy ancillary services when BNPL is available.
“We’re excited to ensure that travel merchants can now benefit from the growing popularity of the buy now, pay later phenomenon,” said Damien Cramer, global head of airlines and travel at Worldline. “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.”
Launched in 2015 by Jasper Dykes, Fly Now Pay Later has raised $150million in funding to support global expansion. The alternative lender lets customers spread the cost of a trip over up to 12 monthly instalments. The company now has presence in UK, US and EU.
Dykes, CEO at Fly Now Pay Later, adds: “As a dedicated team of travellers committed to making paying for travel simpler and fairer, we are delighted to announce the partnership with Worldline as a highly respected pioneer in secure payments and trusted transactions.
“We’re all about making sure that travel payments work for everyone. We welcome the opportunity to work with merchants to help their customers spread out the cost of a hotel, flight or holiday.”
Other services offered by Worldline include instore and online commercial acquiring and payment transaction processing.