The company Uplift Inc. has teamed up with The Mark Travel Corporation and Golden Nugget to launch a startup that offers a monthly financing service, in an attempt to make travel more affordable for more people.
The Uplift platform has a “buy now pay later” option, and they say that their interest rates will be the lowest in the industry. The UpLift CEO and Co-Founder Brian Barth said:
“Our team created one of the most valuable categories in travel, and we know the travel industry like no ordinary fintech company ever could. With Pay Monthly, we’ve reinvented online payments as a marketing tool for major travel brands. Together with our partners, we will expand the entire travel business, making trips possible for millions who otherwise would never have left home.”
According to Henry Harteveldt, the Founder of a travel industry research firm called Atmosphere Research Group, this could be the travel way of the future.
“The U.S. is ideally suited for travel financing. In a recent study we conducted, 41 percent of U.S. travelers expressed an interest in using installment payments for trips that cost $2,000 or more. We believe that in the next two to five years, installment payments will become a ‘must have’ feature for all consumer-focused travel sellers – suppliers and intermediaries alike.”