Jet set go now, pay later
Buy now, pay later platform LatitudePay signs up to Australia's fastest growing online travel company, Luxury Escapes.
From today, LatitudePay is available at Aussie travel company Luxury Escapes and sister site Scoopon Travel, as their new, preferred and only payments platform for travel deals under $1,000. LatitudePay aims to relieve some of the financial pressure associated with booking a vacation by offering aspiring holidaymakers the opportunity to spread the cost of their trip over 10 interest-free instalments.
This is an extension of their current offering, which already allows Luxury Escapes and Scoopon Travel's 3.2 million customers across Australia to utilise the platform for larger priced holidays paid for over a longer-term interest-free period.
For customers who are itching for a mini break without breaking the bank, this could be a viable and cost-effective solution. Personal loans are generally unavailable for amounts under $1,000, and smaller payday loans can incur high costs to borrowers. A more flexible buy now, pay later offering with no interest payments could be just what the travel market has been waiting for.
"Today's announcement shows the momentum LatitudePay is gathering by offering merchants across Australia a better payments and instalments solution, with merchant fees cut to zero for purchases under $250," said Ahmed Fahour, Latitude Financial Managing Director and CEO. "In the coming weeks we will make a series of announcements about other leading retailers and eCommerce partners joining the LatitudePay platform."