Buy now, pay later juggernaut Afterpay has further expanded its services into travel, in a move that’s sure to be a hit with its younger, millennial user base.
The sometimes maligned buy now, pay later service has announced the release of “PLAY” – website pickpayplay.com – which allows would-be travellers to pay for a holiday in weekly or fortnightly instalments, instead of all upfront.
PLAY is a collaboration between Afterpay and travel agency LayAway Travel, and is being trialled in direct response to customer feedback.
According to the website:
“PLAY creates high quality, well thought-out packages to give people experiences they’ve never had before, and allows them to manage payment in a responsible way. “
“It adopts a traditional layby model in that customers are able to pick and book a curated holiday package and pay for it in full; in weekly or fortnightly instalments over a 3- to 12-month period, before they travel.”https://www.pickpayplay.com/about-us
The site advertises all sorts of holidays, from rowdy romps in Bali to more relaxed family holidays or adventurous hikes in off the beaten track countries.
People could already book flights through Afterpay, but Play also offers package deals, which include accommodation and meals as well as flights.
Afterpay Group Head David Hancock told news.com.au the launch of Afterpay’s dedicated travel division will allow people to be more in control of their finances without having to rely on credit or personal loans.
“We had a lot of communication from our customers saying they really wanted Afterpay available in a form that helped them to responsibly budget for travelling,” Mr Hancock said.
“What’s very different about what we’re doing with Play is that we’re using our buying power with Layaway to put together really unique destinations but broken down to small bite-size pieces that people pay off before they travel.
“And that is significantly different from any other travel offer that we’ve seen out there.”
How does PLAY work?
PLAY has been created based on the feedback of Afterpay customers, but isn’t limited to Afterpay customers – it’s an entirely different service available to anyone who:
- Is over 18;
- Has a valid Australian address;
- Has an Australian issued debit or credit card;
- And is eligible to travel
According to PLAY’s site, payments can be made on a weekly or fortnightly basis over any length of time between two and 12 months (the closest a trip can be booked is 12 months in advance).
Payments must be made in full at least one month prior to the departure date, and PLAY reserves the right to cancel the trip if it hasn’t been paid for in full in advance of the departure date.
In terms of fees, missed payments will incur a $7 administration fee each time. If five or more payments are missed throughout the repayment time frame, PLAY will cancel the trip and also charge a $55 cancellation fee.
- How to sell an investment property
- How The Block’s Bianca Chatfield is saving for a house during COVID-19
- How can I get a classic car loan?
- HSBC and RAMS slash saving account rates
- Bank of Us, Bank First slice home loan rates