Findmyfare introduces ‘Buy Now Pay Later’ scheme for air tickets

With the threat of the pandemic waning and societies gaining a sense of normalcy, countries are reopening their borders. The return of international travel means that previously cancelled vacations are back on the calendar. Findmyfare - a Sri Lankan online travel company specialising in providing affordable airline tickets, hotel accommodation and holiday packages is looking to make it easier for you to plan your next vacation. 

Towards that goal, the company recently introduced a Buy Now Pay Later (BNPL) option, which allows you to purchase airline tickets in three interest-free instalments. It is the only Sri Lankan ticketing company offering this one-of-its-kind new service. In announcing its introduction, a spokesman at Findmyfare said, “Travel ticket prices are very seasonal with those closer to holidays being significantly higher. So, to help our customers to protect a fare by purchasing in advance, we launched BNPL where they only need one-third of the ticket price to secure the price.”

Findmyfare’s BNPL service allows you to break down the cost of an airline ticket into three interest-free instalments. Importantly, unlike typical instalment plans this one doesn’t require a credit card. Instead, you can use either a debit card or credit card to take advantage of this service. 

After visiting the Findmyfare website a customer can search for flights to the relevant destination, select preferred flight and book it. Thereafter the customer needs to enter traveller details such as name, passport number; contact details and click the buy now pay later option from the listed payment options.

At checkout, the customer has to pay one-third of the ticket cost. Findmyfare will reserve the ticket at the selected price and the customer can then pay the remaining balance in two interest-free instalments before departure date. The company will send email reminders periodically with a link to settle these instalments. Once the balance is cleared, the customer is ready to fly. 

Anyone can use Findmyfare’s BNPL service to purchase airline tickets. The only requirements are that you are a Sri Lanka resident 18 years of age, have a Findmyfare account and a Sri Lankan contact number. Further, your flight departure date needs to be at least ten days from the booking. The BNPL option is only applicable for refundable tickets and isn’t eligible for any offers. It’s also possible to use multiple cards which mean the first instalment can be paid with one card and the second instalment with another. 

Research has shown that the BNPL industry in the APAC region is poised to grow exponentially. This growth has been fuelled by such services making products more accessible to a wider audience. Findmyfare is the latest example on this list and the first in Sri Lanka to introduce it for airline tickets, which is generally considered a high-value item. In this particular case, splitting the cost of a ticket over three instalments eliminates the heavy initial barrier to international travel. Thus, making overseas travel and discovering the world more accessible to all. At the same time, given that the service reserves the ticket price; you’re protected from cost fluctuations, which make planning easier. Most importantly, the fact that one doesn’t need to own a credit card means all can enjoy these benefits. 

Findmyfare expects a rebound in overseas travel due to pent up demand as borders reopen. This will be led by leisure travellers and then followed by corporate travellers. Given the majority of Sri Lankans are now double vaccinated and the removal of PCR testing requirements by countries, the company is optimistic about hitting pre-COVID numbers by the end of 2022.