BNPL provider ECOMMPAY launches payment solution for UK travel sector

BNPL provider ECOMMPAY launches payment solution for UK travel sector #

ECOMMPAY has launched a brand new BNPL solution for UK travel companies amidst appeals for stiffening the rules in the BNPL sector.

ECOMMPAY is an international payment provider which ensures the successful processing of the BNPL transactions between three parties; the consumer, credit provider and merchant. The solution they are implementing targets the UK travelers, enabling them to choose “how much they want to pay and when, directly from booking pages”. They claim the financial project to be exclusively tailored to travel businesses, following the UK government BNPL consultation released on February 14. ECOMMPAY implemented a rigorous acquisition process to select partners and ensure the highest level of standards across the range of the following features:

  • Credit scoring, to reduce risks of issuing credits to customers who can’t afford it hence keeping consumers safe;
  • Borrowing limits, aimed at larger purchases, leading to higher payment acceptance rates;
  • Up to 12 months of a time limit for credit return.

Head of Product Development at ECOMMPAY Olga Karablina commented on this: “Like the retail sector, the travel industry can see customers’ huge appetite for BNPL payment solutions. Our research revealed the introduction of regulation in the UK has made more than a third of consumers more comfortable using this payment option (37%). ECOMMPAY’s product has been developed to give travel companies a responsible, easy-to-implement, and trustworthy consumer finance solution that will allow their customers to spread payments for travel bookings in a way that protects them. We’re helping travel businesses improve their payment flows, reduce costs, and ultimately grow revenue in an economically challenging year.”

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