WASHINGTON, Nov. 12, 2020 /PRNewswire/
-- UATP today announced a new strategic
partnership with Fly Now Pay Later (FNPL) to give travelers the
opportunity to purchase travel via installment plans. The UATP-FNPL
partnership allows travelers to instantly spread the cost of their
travel plans over time, making those once distant-thought travel
plans, now a reality.
"The 'Buy Now Pay Later' concept is revolutionizing travel
planning as a simpler alternative to financing pricier flights. Our
platform benefits the traveler that is eager to get away, and
collaborating with UATP will allow for a more seamless
implementation," Jasper Dykes,
founder and CEO, Fly Now Pay Later. "Using travel and credit data,
we provide leading airlines with a world class customer experience
by offering an instant financing solution from as little as 0%
APR."
A recent poll with Airline Information showed that 38% of
travelers have installment payments on their roadmap. Additionally,
the Worldpay 2020 Global Payments Report stated that this payment
method consisted of 8% of all eCommerce transactions in 2019 and is
forecasted to double that that growth by 2023. The global
partnership between UATP and Fly Now Pay Later, focusing on leisure
travelers in Europe, will allow
travelers to capitalize on the benefits of installment payment
solutions and help remove the basket anxiety associated with
upfront costs. Additionally, there are no hidden fees, compounded
interest, or early settlement costs. Travelers receive full
protection when purchasing through this process and will have
access to a coordinated payment schedule to use as a budgeting
tool.
"The UATP-FNPL partnership brings yet another option to
travelers, and fulfills the demand the marketplace is asking for,"
Ralph Kaiser, president and CEO,
UATP. "Airlines will receive the full price of the booking upfront
while not taking on any of the risk. The structured installment
payments can also lead to increased ancillary revenue and help to
ensure maximum conversion at checkout."
For more information, visit UATP.com.
ABOUT UATP
UATP is a global payment network owned and operated by the
world's airlines and accepted by thousands of merchants for air,
rail and travel agency payments. UATP connects airlines to
Alternative Forms of Payment which can expand reach and generate
incremental sales globally. UATP offers easy-to-use data tools,
DataStream® and DataMine®, which provide
comprehensive account details to Issuers and corporate travel
buyers for accurate travel management.
Accepted as a form of payment for corporate business travel
worldwide by airlines, travel agencies and Amtrak®; UATP
accounts are issued by: Aeromexico; Air Canada (TSE:AC); Air China;
Air New Zealand (ANZFF.PK); Air Niugini; Air Serbia; American
Airlines (NASDAQ: AAL); APG Airlines; Austrian Airlines; BCD
Travel; China Eastern Airlines (NYSE: CEA); Delta Air Lines (NYSE:
DAL); EL AL Israel Airlines; Etihad Airways; Fareportal; Frontier
Airlines; GOL Linhas aereas inteligentes S.A. (NYSE: GOL and
Bovespa: GOLL4); Hahn Air; High Point; Japan Airlines (9201:JP);
JetBlue Airways; Qantas Airways (QUBSF.PK); Shandong
Airlines; Sichuan Airlines; Southwest Airlines; Sun Country
Airlines; TUIfly GmbH; Turkish Airlines (ISE:THYAO); United
Airlines (NYSE: UAL) and WestJet.
AirPlus International issues the UATP-based Company Account for
Lufthansa German Airlines.
ABOUT FLY NOW PAY LATER
Fly Now Pay Later is an alternative payment provider
specializing solely on the travel industry.
Fly Now Pay Later mission is to help global travel businesses
increase their sales by enabling them to offer their customers
financial flexibility at checkout.
With a bespoke payment solution, travel providers can now help
their customers split the cost of their holiday in flexible monthly
installments from 0% APR.
Contact:
UATP Corporate Communications
Wendy Ward, wward@uatp.com
+1 202 250 4665
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SOURCE UATP