UpLift, Inc., a digital marketing startup, announced Thursday (Nov. 10) partnerships with a number of travel providers for Pay Monthly, its new travel financing service.
In a press release, UpLift said, with the service, travelers can buy now and pay later via installment payments. For travel providers, it can increase their conversion rates and increase total trip value, UpLift said in the press release. According to UpLift, while financing is a stable in a lot of other categories, including buying cars and furniture, it hasn’t been that common in travel. Some of the partners Pay Monthly launched with include The Mark Travel Corp. and Golden Nugget.
“We are all about enhancing our customer’s vacation experience and are excited for our value proposition for consumers to extend deeper into their payment options. This program gives them the ability to realize the vacation of their dreams and realize it now,” said Ray Snisky, EVP and chief commercial officer at The Mark Travel Corporation, in the press release. “With UpLift’s Pay Monthly, we can bring an even greater level of value, flexibility and service to all of our clients across our portfolio of brands.”
Henry Harteveldt, founder of travel industry research firm Atmosphere Research Group, noted in the press release that the U.S. is suited for travel financing, with a recent survey finding 41 percent of U.S. travelers expressing interesting in paying for trips via installment payments for vacations that were more than $2,000. “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,” Harteveldt said in the release.
UpLift CEO and Cofounder Brian Barth also weighed in, claiming, with Pay Monthly, it has reinvented online payments as a marketing tool.