Travel now, pay later: new solution launched in the UK

Mastercard and Divido are partnering with lastminute.com to offer online checkout financing in the UK

Travel now, pay later: new solution launched in the UK. Source: shutterstock.com

Giving consumers the opportunity to ease the financial burden of booking a holiday and helping enhance the travel planning experience, lastminute.com has partnered with Divido and Mastercard to launch instant financing options, which lets retailers and businesses offer eligible customers the opportunity to spread the cost of their purchases over a period of time using installments.

The flexibility of financing at the point of sale is particularly attractive to those faced with large-ticket purchases: spreading out the cost with clear terms lets travelers budget better and helps them plan their holidays more effectively. And consumer confidence in alternative lending is growing. A third of UK shoppers view retail finance as a convenient way to spread the cost of expensive purchases, and nearly one in five call the availability of different finance options the most important factor when making big-ticket purchases, according to 2019 research by Divido.

Divido’s platform provides instant access to credit by connecting shoppers to multiple lenders at the moment of purchase, whether buyers are online, on payment-enabled devices or in store. With lastminute.com, the consumer applies for financing as part of the checkout process by providing personal information and selecting their desired loan term. The loan application is sent to Fly Now Pay Later via API, and if approved, the consumer checks out as normal. The consumer’s monthly payments are automatic and transparent.

Instant financing with lastminute.com is currently available in the UK.

SEE ALSO: The best cards for international travel 2019

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