Ai Video: Assessing the efficacy of flexible payments in travel
18th June, 2019
Installment payments for travel allow travellers to book instantly but pay for their trips over time through fixed payments each month.
“Flexible payments (as an option) have started to evolve (in travel) in the last couple of years, stepping up the conversion rate and drive new revenue (for merchants),” says Chris Stacey, VP, Business Development, Uplift. For instance, targeting travellers with modest disposable income and low credit scores, and letting them pay via this payment option.
The fintech company recently indicated that it is on track to exceed its goal of facilitating payments for one million customers in 2019.
Stacey, who spoke to Ai during the recently held ATPS in Brighton, UK, shared that Uplift settles with no changes to existing flow. “No impact to payment processing or revenue accounting workflows,” he mentioned.
Some of the highlights:
- Airline paid in full via UATP via Airlines Clearing House
- Uplift undertakes customer credit check and assumes all repayment risk
- Customer makes monthly payments to Uplift
The team also asserts that Uplift’s offering is not only mobile friendly, but it also purpose-built for travel, powered by AI-driven, point-of-sale lending and payments technology, which empowers travel brands to drive increased conversion rates, spend, and attachment of high-value ancillary sales.
Uplift does not market directly to consumers.
By Ritesh Gupta
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