Buy Now Pay Later (BNPL) services, according to leading multi-product travel platform Digitrips, are changing the game for travel e-commerce, with such transactions accounting for up to 75% of revenues for the company’s B2B2C clients. The majority of the 65 white-label storefronts operated by Digitrips for e-commerce companies in Europe offer BNPL, a short-term financing option that enables customers to make purchases and pay for them over time with little or no interest.
Depending on the customer typology of the website, the financial service currently accounts for anywhere between 35% and 75% of sales for their B2B2C clients.”It’s obvious that Buy Now Pay Later purchases play a critical role in empowering our white labels partners sites to make travel more accessible,” stated Emilie Dumont, CEO of DIGITRIPS. In fact, some claim that most of their travellers opt to postpone payment or divide the expense into several installments.
According to the data, providing payment flexibility to clients not only helps to meet the travel demand that has been building up but also highlights the necessity for individualised offers that take into account each customer’s preferred method of payment.
The FLOA – Kantar European Barometer 2022 emphasises the expanding significance of payment options in Europeans’ purchase patterns. The study’s emphasis on travel indicated that 35% of consumers utilise the financial service to book travel plans, making travel a crucial category for BNPL providers. The percentage of BNPL consumers in France, Digitrips’ largest market, who profit from postponed or staggered travel payments is as high as 44%.
Source: traveldailymedia