VIDEO: Easing the burden of paying for travel

The concept of buy-now-pay-later - allowing customers to pay for travel in installments - has come to the fore in recent years.

This is in part due to a number of startups that have emerged with sizeable funding rounds and a strategy to make it easier for their brand partners to give travelers different options for paying for services.

The idea is not new by any means, with European tour operators for decades allowing their customers to defer payment on a scheduled basis.

But the idea is certainly now catching on in a big way, not least as many customers have been hit hard from the pandemic and therfore need some flexibility to secure their trips.    

So what is the appeal of buy-now-pay-later for brands? What segments of the industry is it more popular than others?

And what effect does it have on the business models that can already be fairly complicated to work within?

Sophia Melas, head of partnerships for Fly Now Pay Later, spoke to PhocusWire during the recent Pulse event: Progress In Travel Payments.

The full discussion with PhocusWire's Kevin May is included below...