Research by Butter, the UK’s only Buy Now Pay Later (BNPL) travel agency, suggests that the BNPL approach could help rejuvenate a pandemic-tired tourism sector so that vacationers can overcome Covid’s financial uncertainty by using the Spread the cost of their vacation over more manageable monthly installments.

Co-founders Timothy Davis, Stefan Hobl and Nik Haukohl were irritated by the lack of flexible payment options when planning a vacation and were inspired to set up the first travel agency in Great Britain as early as 2017, which would allow travelers to distribute travel expenses over the course of the year Time with full payment due only after the trip.

While the BNPL approach has been around for a while, research by Butter shows that the ability to pay for vacations this way could help boost the tourism industry in the coming months.

In fact, the numbers show that 78% of vacationers said sharing the cost would make them more likely to book a vacation this year.

Butter’s research also shows that the ability to better manage their incomes is the driving factor behind increasing consumer confidence in the cost allocation.

35% said the BNPL approach allowed them to maximize their monthly income while securing the planned purchase. This means that vacationers are able to secure the summer sun for themselves without having to pay large deposits or upfront costs. This means you have enough money in your back pocket to cover the rest of your monthly expenses.

Another 27% were able to make the purchase because they didn’t have the money at the time of the transaction so they could book without worrying about prices going up later.

23% also said that the BNPL approach enabled them to buy a more expensive product than they would otherwise have if they didn’t spread the cost, meaning they could improve the quality of their vacation without compromising their affordability Affect travel.

Timothy Davis, Co-Founder and CEO of Butter, commented:

“Choosing a BNPL travel agent could be the answer for vacationers who, in the current climate, are unsure about making a purchase with large tickets as they can spread the cost over several months and even after traveling.

In addition to this greater convenience and financial support, the risk of booking a vacation is also minimized to a much greater extent.

Not only do many travel agents offer Covid protection to build consumer confidence, but with a BNPL travel agent like Butter, they offer the extra safety net of Section 75 protection, so if you are booking a vacation and the airline or hotel is unable to To fulfill their side of the bargain, you should be able to receive a full refund for the money paid.

Our goal at Butter has always been to provide consumers with this easy and responsible alternative to credit cards and credit while incorporating the expertise and protection you would expect from your travel agent.

The combination of our lineage within the travel sector and a transparent approach to lending enables vacationers to budget and spend intelligently and in a way that suits their individual financial needs. “

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