Is Buy-Now, Pay-Later the Future of the Travel Recovery?
Photo Credit: Customers like this one shown here are increasingly using airline flexible payment methods to enjoy themselves first — and pay later. Getty Images / Pollyana Ventura
Skift Take
Deferred payment models are nothing new, but as travel recovers, airlines and others in travel need to find innovative ways to accept payments. It's far from certain that this payment model will help speed up a recovery, or prove to be another huge burden for customers.
As the world and travel industry looks to a return to normalcy, more and more airlines are turning to the buy-now, pay-later model, offering customers a travel recovery incentive to purchase their next adventure or family vacation on credit.
For example, Malaysia Airlines partnered with Fly Now Pay Later, a London-based company offering the airline's UK travelers the option to book their trip now and pay later. Malaysia Airlines' travelers choosing the Fly Now Pay Later payment option at checkout can choose a payment installment that works for them with an interest rate of 29.9 percent, the airline's website said.
“Malaysia Airlines is always looking at solutions that will enhance our customer service offering further. Together with Fly Now Pay Later, we see a huge opportunity to do something innovative that helps travelers by offering a flexible, controlled and customer-centric option to spread the cost of paying for a holiday over a number of months," said Daniel Bainbridge,
