Travel south in equal installments

You don’t have a penny in your pocket and you’re still dying to treat yourself to a holiday in the sun? Know that, for better or worse, the “buy now, pay later” trend is spreading to the travel sector.

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Founded eight years ago in the United States, California Uplift has quickly established itself in the sector, offering anyone who wants to go to the open sea the possibility to quickly book a flight or package, without necessarily having the funds to purchase them.

Air Canada, Transat & Co.

A bit like buying a refrigerator or a TV in a supermarket, financial technology Offers that break travelers to pay for their trip at a later time, over a period of several months or years, according to a predetermined equal payment method.

The tech company landed in Canada in 2019, and struck business deals with nearly all of the country’s major carriers, such as Air Canada, Air Transat, Sunwing, or even Porter. Local travel agencies, such as Voyages Bergeron, Discount Travel and iTravel2000.com are technical partners as well.

Big costs

Of course, this payment flexibility is not free. Lift charges a financing fee ranging from 7.99% to 31.99%, depending on the purchase amount, chosen repayment period (six weeks to two years), and each client’s credit history.

Do customers love it despite the cost? It’s hard to tell. But for companies that are approached to partner, Uplift promises an average conversion rate growth of 17% and an average transaction value increase of 22%.