Worldline launches ‘Buy Now Pay Later’ service in travel payments
Paris, La Défense — 19 / 12 / 2022
Worldline [Euronext: WLN], a global leader in payments services, has announced a new service to help satisfy rapidly increasing customer demand in the travel sector for ‘Buy Now Pay Later’ (BNPL) payments. The company has partnered with leading travel payment provider Fly Now Pay Later and the joint offering is available through Worldline’s existing TravelHub payment solution.
BNPL is an instalment payment solution which allows consumers to make purchases and pay for them over a period of time. Industry data indicates that 68% of travellers will spend more than usual on their travel plans and 49% will buy ancillary services when BNPL is available [source: Amadeus]. Consumers are able to enjoy the convenience of lower upfront costs, reduced or zero interest charges and more available travel cash – giving them a much smoother user experience.
Merchants benefit from a higher conversion rate, improved average order value, and an increase in direct bookings by offering BNPL at checkout. The service also helps reduce fraud as travel providers receive their total payment upfront from the BNPL provider. The service is available for merchants who are connected to TravelHub, Worldline’s payment technology specific to travel merchants offering over 150 payment methods and currencies, multi-acquiring, tokenisation and a range of fraud prevention services, available through a single integration with single reporting and settlement. Established TravelHub merchants can make use of the service straight away, through a simple two-step process, by adding a button to their checkout page and signing a contract with Fly Now Pay Later.
Damien Cramer, Global Head of Airlines and Travel at Worldline: “We’re excited to ensure that travel merchants can now benefit from the growing popularity of the Buy Now Pay Later phenomenon. Ultimately, through this service, merchants are well placed to gain additional customers attracted by the ability to spread the load of their holiday expenditure, while still enjoying the security of receiving a single up-front payment from the BNPL provider.”
Jasper Dykes, founder and CEO at Fly Now Pay Later: “As a dedicated team of travellers committed to making paying for travel simpler and fairer, we are delighted to announce the partnership with Worldline as a highly respected pioneer in secure payments and trusted transactions. We’re all about making sure that travel payments work for everyone, so welcome the opportunity to work with merchants to help their customers spread out the cost of a hotel, flight or holiday.”
The full list of the key benefits of Worldline’s TravelHub solutions can be found here.
Worldline [Euronext: WLN] is a global leader in the payments industry and the technology partner of choice for merchants, banks and acquirers. Powered by c. 18,000 employees in more than 40 countries, Worldline provides its clients with sustainable, trusted and innovative solutions fostering their growth. Services offered by Worldline include instore and online commercial acquiring, highly secure payment transaction processing and numerous digital services. In 2021 Worldline generated a proforma revenue close to 4 billion euros. worldline.com