Are you penniless and still dying for a holiday in the sun? For better or worse, the “buy now, pay later” trend is now spreading to the travel sector.
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Founded in the United States eight years ago, California Uplift has quickly established itself in the field, offering those who want to take to the high seas the opportunity to quickly book a flight or package, without having to have the necessary funds to purchase it.
Air Canada, Transat and Co.
Like buying a fridge or television set at a big box store fintech Offers broke travelers to pay for their trip over several months or years, according to a pre-determined method of equal payments.
The technology company, which entered Canada in 2019, has commercial agreements with almost all major carriers in the country, such as Air Canada, Air Transat, Sunwing or Porter. Local travel agencies such as Voyages Bergeron, Discount Travel and iTravel2000.com are also technology partners.
Of course, this payment facility is not free. Uplift charges financing fees ranging from 7.99% to 31.99%, based on the purchase amount, selected repayment period (six weeks to two years) and each customer’s credit history. .
Will customers like it despite the cost? Hard to know. But for companies approached to become partners, Uplift promises a 17% increase in average conversion rate and a 22% increase in the average value of their transactions.
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