Book now pay later for your plane tickets and your hotel reservation: the new offer from MakeMyTrip

Online travel company MakeMyTrip said Thursday it has partnered with 15 banks, NBFCs and fintech players, including HDFC Bank, IDFC Bank, Capital float and Zest Money, for its “book now, pay more” option. late” when booking flights or hotels.

The company’s fintech arm, TripMoney, has created a marketplace attracting 15 banks, NBFCs and fintech players, which also include Kissht, Lazypay and Simpl, among others, to offer easy travel credit to travelers, MakeMyTrip said in a statement.

Book now, pay later (BNPL) payment has been introduced on travel, flight or hotel reservations, MakeMyTrip as well as Goibibo app, he added.

“The BNPL and EMI options will help provide easy and quick access to short-term credit for our customers on attractive terms. This will help travelers realize their aspirations to travel more frequently and to new destinations,” said Rajesh, co-founder and CEO of the MakeMyTrip group. said Magow.

The online travel services company said the initial response to BNPL on the MakeMyTrip platform has been very encouraging and it has seen 60% growth in BNPL transactions quarter over quarter over the of the last year.

“Currently, more than 75% of clients opting for BNPL opt for no-cost IMEs (to be paid within 3 months) while the rest opt ​​for longer duration IMEs,” he added.

Travelers who choose to travel without making payment at the time of booking receive short-term credit from NBFCs and partner banks through an underwriting platform that assesses customer creditworthiness using credit science models. data, the company said.

This story was published from a news feed with no text edits. Only the title has been changed.

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