The new payment solution was built using the company’s proprietary technology and promises to deliver 24/7 customer support with a compelling risk scoring system based on an individual’s travel circumstances, offering high credit limits for certain travel needs. At the same time, the BNPL solution allows for credit return limits to protect booking agencies and travel agents, offering a suite of payment products that enable companies to grow their businesses and protect travellers.
BNPL – a flexible payment method on the rise globally
Buy Now, Pay Later (BNPL) has become an increasingly popular payment method across the globe, as end-users are willing to resume to a post-pandemic world while facing today’s economic turmoil and financial struggles, including spikes in inflation rates, a stagnation of salaries, and alarmingly increased costs of living.
A recent survey by ECOMMPAY shows that one third of customers are likely to remove items at checkout if a BNPL solution is not offered. Further research revealed that nine in ten (94%) travel and aviation businesses expect their customers to increasingly rely on BNPL services due to the aforementioned economic and financial pain points.
Leveraging its experience in the travel sector, ECOMMPAY provides a tailored and flexible alternative payment method that encompasses a wide range of features, aiming to help businesses navigate through the current economic challenges. Some of the products customers can expect include direct bookings, reducing shopping cart anxiety, mitigating fraud, and boosting checkout conversion by up to 35%.
Travel businesses who adopt ECOMMPAY’s new BNPL solution can expect various reimbursement options, including Pay in Instalments, Pay in 30 Days, or Pay over Time that introduce flexible and manageable financing for larger purchases.
Through its carefully selected partners, ECOMMPAY ensures its clients qualify for affordable credit solutions and products, including accurate credit scoring, borrowing limits tailored for larger purchases, and extended time limits for credit returns of up to 12 months. Moreover, through ECOMMPAY, travel brands can enable their customers to pay for their bookings any time, anywhere, using card details, smart devices such as e-wallets, and QR codes, without requiring an additional POS.
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