Hotel rooms book now pay later11/5/2023 Find a Buy Now, Pay Later provider with an experienced in-house customer support teamįrom missed flights to cancellations, travel plans can run into unexpected hiccups. Plus, they’re able to support a variety of payment options like prepaid and post-stay rates. A partner that knows the ins and outs of arranging larger payment plans will ensure that more of your guests are approved on their first inquiry. Speedy credit approvals (no matter the requested amount) are one of the top draws of BNPL. Providers like Uplift have a long history of supporting transactions up to $25,000 (often with zero interest!). That’s why it’s important to work with a BNPL outfitted to offer longer terms on bigger ticket purchases. While a shopper can pay off a handbag over a few weeks, they’ll usually need more time to pay off a getaway. Keep in mind: some BNPL providers specialize in funding less expensive impulse buys.īut with travel BNPL, consumers aren’t snagging multiple inexpensive purchases each month-they’re tapping into the service less often but spending significantly more when they do. Start with a BNPL provider that understands the hospitality industry Here’s how leading hospitality brands tap into this booking boost-and what you need to consider when selecting your Buy Now, Pay Later partner. What hospitality brands should consider when choosing a BNPL Advertising infused with BNPL messaging can yield a 91% increase in Click-Through-Rates while reducing Cost-Per-Click by 76%**īNPL helps consumers purchase more comfortably, making it a powerful way to welcome a fresh groundswell of new travelers into your customer base while increasing loyalty with existing guests.Buy Now, Pay Later increases the average booking window by +40%**.43% of guests paying with BNPL upgrade their hotel experience*.And both travelers and hoteliers are loving it: Guests can book a stay now, the hotel receives the entire payment upfront, and the guest can pay off their getaway over a fixed number of months. Hotel brands are getting in on the action by adding BNPL to their payment mix. They only need to make a set payment each month, which they can more easily manage over time. First of all, what is Buy Now, Pay Later for hotels?īuy Now, Pay Later providers, such as Uplift, allow shoppers to book a hotel stay now and spread the cost of the purchase into bite-sized installments, rather than paying the full amount at booking or at checkout.Ĭompared to credit cards, BNPL can help consumers avoid perils like revolving debt and compounding interest. To meet consumer demand and stay competitive, top hospitality brands can no longer ignore offering BNPL at checkout. Hotel chains, boutique lodges, and Online Travel Agencies are jumping on flexible payment methods to increase conversion and average daily rates (ADRs). Today, 48% of consumers are very likely to use Buy Now, Pay Later for hotel stays, and an additional 31% are somewhat likely to pay with BNPL. What Every Hotel Brand Needs to Know About Buy Now, Pay LaterĬonsumer demand for flexible payment options and pent-up wanderlust has helped fuel the explosive growth of Buy Now, Pay Later (BNPL) for travel purchases.Īnd while airlines, cruise lines, and vacation package providers have been quick to adopt this popular form of payment, hoteliers have been a little late to the game.īuy Now, Pay Later is now the fastest growing form of payment in the US-and a new survey by Uplift shows how it is making its way into the travel space.
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