“Travelers increasingly look for payment flexibility when booking travel plans. In fact, a recent Affirm survey revealed 54 percent of consumers are interested in using a buy now, pay later solution this year,” Silvija Martincevic, chief commercial officer of Affirm, said in a press release on Tuesday (March 30).
“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,” Martincevic added.
Affirm users can split the cost of their vacation rental plans into equal installments. The collaboration enables travelers to book time at a vacation home but make payments later with zero interest or fees.
According to Vrbo data, more than 80 percent of families already have travel plans this year and have been reserving summer vacation homes early. Some people are finding that popular locales are close to selling out.
“Vrbo has been connecting families with vacation homes for over 25 years, and we can now provide even more value to our customers by being the only vacation rental platform to offer payments over time with Affirm. This benefit enables families to plan and book future vacations now and pay for them later,” said Mike Sutter, vice president of product management at Vrbo. “The zero-percent financing offer comes in celebration of spring and of all the families eager to reconnect with loved ones after spending a year apart.”
Affirm advanced its move into the travel industry with last month’s Vacasa partnership. Headquartered in Portland, Oregon, Vacasa has an inventory of professionally managed vacation rentals across North America, Belize and Costa Rica.
PYMNTS data shows that people have embraced the digital-first way of life brought about by the pandemic but are looking forward to leaving their homes and venturing out to see family and friends, travel, and go to events once the pandemic passes.