Despite the pressures of inflation, customers are still looking for ways to have high-end get aways on a budget. Using PlanPay, customers can create bespoke payment plans, dividing the cost into weekly, fortnightly, or monthly instalments prior to their holiday and align their payment date with their pay cycle. This gives customers the ability to budget, plan and pay for their trip ahead of time, rather than being caught out by large expenses all at once.
Specifically developed to help travellers manage their budget, PlanPay is suited to all travellers who want a luxury experience but not at the expense of credit card debt.
Digitising the popular layby concept, PlanPay has been designed so consumers can travel without the financial hangover, providing personalised, flexible, upfront plans to suit the traveller’s lifestyle. Unlike a buy now, pay later platform (BNPL) that encourages consumers to borrow credit.
“As the first digital lay-by platform available both on and offline, we offer instant approvals and no penalty fees, which makes PlanPay the best way to eliminate the burden of budgeting.” said Gary Burrows, CEO of PlanPay.
PlanPay is a valuable tool for travel agents to make their services more appealing and accessible to their client base. As travel resumes and more people start planning their trips, PlanPay enables travel agents to provide their clients with a convenient payment solution.
Since its launch, PlanPay has demonstrated its value to customers, with some travellers utilizing the platform up to 18 times. This high level of customer engagement demonstrates the platform’s effectiveness in meeting their needs for flexible and manageable payment options.
By choosing to pay in upfront instalments, our merchants see a 4.1x higher average order value compared to BNPL spend and 1.5x when looking at debit or credit card spend. Guests are also locking in their bookings far earlier with PlanPay over BNPL or credit cards, in fact on average up to 291 days in advance with PlanPay versus just 59 days with other payment options.
Benefits for Merchants: PlanPay offers several advantages for merchants, providing them with the tools to enhance their businesses and cater to the evolving needs of their customer base.
PlanPay offers a range of benefits for merchants, including:
– Seamless integration into ecommerce checkouts or our zero-integration agent platform: Our simple and customisable set up means you can be reaping the benefits of PlanPay in no time.
– Gain longer booking lead times: Gain a 10-month average lead time when using PlanPay compared to just weeks with credit card payments.
– Grow your retention by engaging customers with payment flexibility: With PlanPay, merchants can deliver financial freedom to their customer base.
– Easily retarget abandoned carts: Unlike traditional payment methods, PlanPay gives a pricing incentive without discounting.
– Increase direct bookings and average order value: PlanPay research shows, 41% of customers would be more likely to upgrade, when paying with instalments.
By displaying prices in weekly instalments merchants can drive conversion, reduce abandon carts, increase order values, and reduce the cost of customer acquisition by making direct bookings more appealing.
Visit the website at PlanPay.com
Another innovation that benefits merchants are no-fee POS systems.
