Inspire New Travel Spending with Flexible Payment Options: Travel Weekly
Travel Now, Pay Later
Travel industry reports reveal that travel is back! Consumers are eager to sojourn to faraway places. The types of trips being booked reflect a desire to travel purposefully — whether it’s to reconnect with loved ones, pursue passions, experience bucket-list destinations with a focus on sustainability, or all the above.
In fact, American Express Travel’s 2022 Global Travel Trends Report reveals that of those surveyed, 62 percent of respondents plan to be more thoughtful about where and how they travel; 72 percent plan to spend more on domestic travel while 64 percent plan to spend more on international travel than they did in 2021. In addition, 62 percent plan to book multiple trips in 2022.
As consumer travel behavior continues to diversify, offering PayPal’s payment solutions at checkout can provide flexibility, security and convenience no matter what the trend, so your customers can focus on what’s important — fulfilling meaningful travel experiences that will create lasting impact.
The PayPal Advantage for You and Your Clients
For many leading enterprises within the travel industry, a successful business model is rarely a “one-size-fits-all” approach. Providing customers with choices designed to suit their unique needs and preferences is paramount. This doesn’t just apply to choosing flights, destinations, or travel itineraries but options on how to pay for it all. Whether it’s the purchase of airline tickets, hotel accommodations, an extraordinary tour, or the whole package, today’s travel consumer wants to conduct financial transactions that are straightforward, efficient, flexible and secure. Consumers want options to help turn their vacation dreams into reality.
By partnering with PayPal for digital checkout, you can provide flexible payment options with Pay Later solutions such as PayPal Pay in 4* ($30-$1,500 in purchases) and the new PayPal Pay Monthly** ($199-$10,000 in purchases), which provide advantages to both your business and your customers. These flexible Buy Now, Pay Later (BNPL) choices have proven to lead to increased merchant conversion rates and repeat orders by consumers. PayPal drives higher unplanned purchases by 19 percent1, while 74 percent of PayPal Pay Later users have used PayPal’s BNPL solutions again within 12 months from the original transaction.2
PayPal’s offerings can help differentiate your business from others in the crowded marketplace. As the traditional “pay now” system evolves, PayPal continues to innovate with digital payment choices that best fit your clients’ needs. Varied solutions cast a wider net to attract new customers and provide lifetime value to existing customers, creating brand loyalty, and increasing engagement and frequency of purchases.
BNPL solutions enable your business to get paid upfront without taking on credit risk, while your customers can split those big-ticket travel items across multiple, predictable payments that fit their budget.
PayPal offers businesses not only its Pay Later payment options but access to its entire suite of integrated solutions, including fraud protection, that reach consumers all in one place.
Statistics show that PayPal enjoys a higher average order value (AOV) with its products than other digital payment platforms. PayPal’s global BNPL solutions have driven more than 2x the AOV compared to PayPal’s standard AOV.3
*About Pay in 4: Loans to California residents are made or arranged pursuant to a California Financing Law License. PayPal, Inc. is a Georgia Installment Lender Licensee, NMLS #910457. Rhode Island Small Loan Lender Licensee.
**Pay Monthly is subject to consumer credit approval. 9.99-29.99% APR based on the customer’s creditworthiness. PayPal, Inc.: RI Loan Broker Licensee. The lender for Pay Monthly is WebBank.