WHY IT RATES: Buy now, pay later plans are growing in popularity and Amadeus is meeting demand with this new payment option that will be available to travel companies. –Janeen Christoff, TravelPulse Managing Editor
Uplift, the leading enterprise Buy Now Pay Later (BNPL) solution serving the world’s top travel brands is partnering with Amadeus for U.S. and Canadian customers.
According to research with travelers, 68% would spend more on travel if BNPL options were available. Travel remains a big-ticket item for consumers and especially so when planning a family or long-haul trip. Buy Now Pay Later (BNPL) options have emerged over recent years as a way to spread the cost of a purchase across several monthly payments, delivering additional flexibility for travelers. That’s why Amadeus is partnering with travel specialist, Uplift, to bring BNPL services to its popular Amadeus Xchange Payment Platform (XPP), as part of a multi-provider BNPL ecosystem dedicated to travel.
XPP is used by hundreds of airlines and travel companies to power every aspect of their payments, from fraud prevention to payment acceptance. Now, airlines, travel agencies and hotels can easily add BNPL options to their sales channels via a single connection to Amadeus–making ‘Uplift’ BNPL options more easily available to travelers across the industry. Travelers can choose to pay for travel in a series of installments over six, nine or 12 months.
Already common to the retail sector, BNPL is particularly well suited to the travel industry due to the common requirement for upfront payments at the time of booking. Amadeus research with more than 5,000 travelers suggests 68% would spend more on travel if BNPL options were available, with 49% confirming they would be more likely to buy airline ancillary services.
Beatrice Bouju, Head of Partnerships, Payments, Amadeus said: “The growth of BNPL across all sectors has been remarkable and the message from travelers is clear – they want the choice to pay for the trip in installments. Such payment options will help travel’s recovery by facilitating pent-up demand for higher value holidays as travel restrictions are lifted.”
She continued: “Our vision for the Amadeus Xchange Payment Platform is a one-stop-shop for travel companies to access the latest in fintech innovation, so adding BNPL services from two travel specialists to the mix was an easy choice.”
Tom Botts, Chief Commercial Officer, Uplift added: “Travelers increasingly prefer the option to pay for a trip in installments, over two-thirds of Uplift users chose BNPL because it reduces financial stress to pay over time versus all at once. BNPL has become a standard payment method across travel. Now, travel providers that rely on the Amadeus Xchange Payment Platform can add Uplift’s flexible payments quickly and simply, immediately benefiting from stronger customer loyalty and increased bookings.”
Amadeus XPP helps travel companies access the latest fintech innovations to improve the payment experience for travelers.
SOURCE: Amadeus press release.