Uplift, the buy-now-pay-later startup that is focussed on payments made in the travel sector, has announced that it has tied up with Tripster, the travel booking website, for processing its payments.
The BNPL payments space has been in the news over the last few months for all the right reasons. There has been a tremendous demand for BNPL payments from the users who want to break down their bulk purchases into smaller instalments, especially in these times when the market risk is high so that it becomes easy for them to pay back. This growing demand has been picked up by the BNPL firms which have seen high transaction volumes. This has led to the entry of even major payments firms like Klarna and Paypal into this space and we are seeing a lot of investor interest also in the industry.
Utilizing this partnership, users of Tripster would be able to book tickets to any of the 30 destinations that it offers and can also book rooms, packages, and other items related to the travel and when it comes to the payment page, the users will be given a choice by Uplift to either make the full payment at that time or split the payment into three or more installments. The users can make the choice and make the payment accordingly.
“Tripster has always believed that a vacation shouldn’t feel like work,” said John Johnson, Tripster’s founder, and CEO. “With the addition of flexible payment options through Uplift, we’ve taken one more potential stress point out of travel planning by allowing our customers to spread the cost of their vacation over low monthly payments.”
The users can pay the amount in 12 monthly instalments if they want to. Uplift has been focussing on its travel niche to avoid direct competition with big payment companies that focus on consumer goods than any other industry. This has helped Uplift to attract investments and also grow and expand its business within its niche through partnerships like these. It had also partnered with South West Airlines recently. The BNPL industry is expected to grow by 10-15 times over the next 5 years and with increasing competition, we are likely to see the BNPL firms try to settle down into their own niches in the future.