With the threat of the pandemic waning and societies gaining a sense of normalcy, countries are reopening their borders. The return of international travel means that previously cancelled vacations are back on the calendar. Now, Findmyfare – a Sri Lankan online travel company specialising in providing affordable airline tickets, hotel accommodation, and holiday packages, is looking to make it easier for you to plan your next vacation.
Towards that goal, the company recently introduced a Buy Now Pay Later (BNPL) option, which allows you to purchase airline tickets in 3 interest-free instalments. Currently, the only one of its kind by a Sri Lankan ticketing company here’s everything you need to know about this new service. In announcing its introduction, a spokesman at Findmyfare said, “Travel ticket prices are very seasonal with those closer to holidays being significantly higher. So to help our customers to protect a fare by purchasing in advance, we launched BNPL where they only need 1/3 rd of the ticket price to secure the price.”
How does Findmyfare’s Buy Now Pay Later option work?
In simple terms, Findmyfare’s BNPL service allows you to break down the cost of an airline ticket into three interest-free instalments. Importantly, unlike typical instalment plans, this one doesn’t require a credit card. Instead, you can use either a debit card or credit card to take advantage of this service.
Here’s how it works:
- Head over to the Findmyfare website and search for flights to your destination
- Select your preferred flight and book it
- Enter your traveller details such as name, passport number, contact details,
- Click the buy now pay later option from the listed payment options.
At checkout, you’ll only have to pay 1/3rd of the ticket cost. Findmyfare will reserve the ticket for you at the selected price. You can then pay the remaining balance in 2 interest-free instalments before your departure date. The company will send you email reminders periodically with a link to settle these instalments. Once the balance is cleared, you’re ready to fly.
Who can use it?
Pretty much anyone can use Findmyfare’s BNPL service to purchase airline tickets. The only requirements are that you are a Sri Lanka resident 18 years of age, have a Findmyfare account, a Sri Lankan contact number. Further, your flight departure date needs to be at least ten days from the booking. The BNPL option is only applicable for refundable tickets and isn’t eligible for any offers. It’s also possible to use multiple cards, which means the 1st instalment can be paid with one card and the 2nd instalment with another.
The benefits of Buying Now and Paying Later
Research has shown that the BNPL industry in the APAC region is poised to grow exponentially. This growth has been fueled by such services making products more accessible to a wider audience. Findmyfare is the latest example on this list and the first in Sri Lanka to introduce it for airline tickets, which is generally considered a high-value item. In this particular case, splitting the cost of a ticket over three instalments eliminates the heavy initial barrier to international travel. Thus, making overseas travel and discovering the world more accessible to all. At the same time, given that the service reserves the ticket price, you’re protected from cost fluctuations, which makes planning easier. Most importantly, the fact that one doesn’t need to own a credit card means all can enjoy these benefits.
Looking ahead, Findmyfare expects a rebound in overseas travel due to pent up demand as borders reopen. This will be led by leisure travellers and then followed by corporate travellers. Given the majority of Sri Lankans are now double vaccinated and the removal of PCR testing requirements by countries, the company is optimistic about hitting pre-COVID numbers by the end of 2022. As many of us begin looking forward to either meeting family again or going on that next big adventure, the introduction of BNPL for tickets by Findmyfare makes one crucial aspect of travelling significantly easier.