Popular vacation rental platform Vrbo and BNPL Affirm (NASDAQ:AFRM) have announced a collaboration so that travelers can book now and pay later for vacation homes. By incorporating Affirm, travelers may save money by not having to utilize expensive credit cards.
To promote the new service qualified travelers may access 0% APR financing when booking a vacation home through Vrbo and paying with Affirm. This offer is available for bookings made today through April 11. Families that choose to pay with Affirm can split the total cost of their booking into monthly payments.
Following lockdowns and social distancing due to COVID, the travel industry is preparing for a boom in vacations. Vrbo data shows that over 80% of families already have travel plans for 2021, and they are booking summer vacation homes earlier than ever.
Mike Sutter, VP of product management at Vrbo says they have been connecting families with vacation homes for over 25 years and now they can offer even more value with payments over time.
“This benefit enables families to plan and book future vacations now and pay for them later. The 0% financing offer comes in celebration of spring and of all the families eager to reconnect with loved ones after spending a year apart.”
Silvija Martincevic, Affirm’s Chief Commercial Officer, says travelers are looking for more flexibility when booking travel. A recent in-house survey indicates that 54% of consumers are interested in a buy now, pay later (BNPL) option.
“Whether booking a road trip or a big family excursion on Vrbo, travelers can now choose Affirm to pay at their own pace with no hidden fees or confusing fine print.”
Affirm is said to be currently available on select Vrbo properties, identified during check-out by a badge with the Affirm logo.
