AmEx brings BNPL to air travel

AmEx brings BNPL to air travel

News
May 16, 2021 by J.D. Smith
35
American Express is making a move into a new frontier for the buy now, pay later movement, offering US consumer card members the option to pay for plane flights in instalments. Customers that book flights that cost more than $100 through AmexTravel will soon be able to choose to pay with the firm’s Plan It
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American Express is making a move into a new frontier for the buy now, pay later movement, offering US consumer card members the option to pay for plane flights in instalments.

Customers that book flights that cost more than $100 through AmexTravel will soon be able to choose to pay with the firm’s Plan It option of monthly instalments with a fixed monthly fee.

BNPL has quickly become big business and AmEx research suggests it is a popular option for travellers. More than a third of Americans surveyed say they are looking for deals or flexible payment options to pay for their next trip, including BNPL.

In fact, 62% of millennials are interested in a BNPL offering that comes with their credit card.

AmEx is not the only player to spot a BNPL opportunity in the travel sector. Earlier this month, UK startup Fly Now Pay Later topped up its Series A round to a total of £45 million.