FinTech: Expedia And Afterpay Tie Up To Offer BNPL For Travel
This holiday season is going to be more costly for consumers.
Indeed, according to a CNN article, travellers should get prepared for the most expensive holiday travel season ever. Average air fare is up about 40% from 2021, and rates for hotel rooms and rental cars have jumped 12% and 46% respectively from where they were in 2019. But travel demand, which was pent up during the pandemic, is still on the up and up and inching towards pre-pandemic levels. Fortunately, travellers reeling from holiday sticker shock now have a BNPL option from Expedia and Afterpay. (Afterpay)
For the first time, customers can book travel with Expedia through the Afterpay app. An announcement Monday said Expedia Group (NASDAQ: EXPE) and ‘Buy Now, Pay Later’ leader, Afterpay, have partnered to offer an option to travellers to pay for flights and hotels in four interest-free installments.
Through the Afterpay app, customers can browse and reserve Expedia Group’s global supply of more than three million properties and 500+ airlines around the world.
“Expedia Group is proud to become Afterpay’s first major US travel partner,” said Senior Vice President Media and Brand Partnerships Christian Gerron, Expedia Group. “This highlights our ongoing growth in developing cutting-edge traveler technologies that provide our partners with new ways to deliver great experiences to their customers which, in turn, drive customer loyalty.”
“Our partnership with Expedia Group is a significant step in offering our customers a more responsible payment option for higher priced items like travel,” said Alex Fisher, Head of Revenue, North America, Afterpay and Cash App. “As consumers prepare for the peak holiday travel period, we are excited to provide an easy and flexible service that will allow our customers to book and pay in four installments for their preferred flights and accommodations, interest-free and over time.”
Related Story: With New BNPL Options, Dentistry Bills Become Painless
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