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Affirm Partners with Agoda to Bring Travelers More Flexible Payment Options
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
partnership
Rhea-AI Summary
Affirm has partnered with Agoda, part of Booking Holdings, to offer travelers flexible payment options. Customers can now book hotels through Agoda's platform and split payments for bookings over $50 into biweekly or monthly installments, starting at 0% APR. This initiative aims to make travel more accessible, especially for those who prefer to pay over time. Agoda joins over 200,000 retail partners of Affirm, enhancing customer reach and driving sales growth.
Positive
Partnership with Agoda enhances Booking Holdings' customer payment options.
Travelers can now pay over time, increasing accessibility to travel.
Potential to drive sales growth and extend customer reach with Affirm's payment options.
Negative
None.
Travelers can book hotels now and pay over time with no hidden costs or late fees
SAN FRANCISCO--(BUSINESS WIRE)--
Affirm, the payment network that empowers consumers and helps merchants drive growth, today announced a partnership with global travel platform Agoda, part of Booking Holdings, the world’s leading provider of online travel and related services. Now, eligible travelers can book their hotel accommodations for upcoming trips across the Agoda platform both on web and via the app and pay over time for bookings over $50.
By selecting Affirm as a checkout option on the platform, eligible travelers can split the total cost of purchases into either biweekly or monthly payments for as low as 0% APR. They are shown the total cost of their purchase and will never pay more than the agreed amount upfront. With Affirm, customers will know exactly what they owe with no additional late charges or hidden fees. Agoda integrates Affirm’s Adaptive Checkout to offer customers dynamic payment options to suit a variety of budgets and preferences, including four interest-free biweekly payments as well as monthly payment options.
“We are always looking for innovative ways to help more people access travel, using tech to simplify the search, booking and payment processes,” said Agoda’s Chief Financial Officer Thi-Mai-Linh Bui. “The launch of pay-over-time options with Affirm will enable travelers in North America who might have previously found it inconvenient to pay for their booking in one lump sum to spread the costs over multiple payments without incurring any compound interest or additional costs. We’re helping consumers get back out into the world of travel – on their own terms.”
“According to a recent Affirm Consumer Spend Report, 80% of consumers agree that 2022 will be the year they splurge on a bucket-list trip and nearly 30% plan to pay for travel expenses over time instead of all at once,” said Affirm’s Chief Revenue Officer Geoff Kott. “Our partnership with Agoda gives more travelers a budget-friendly way to pay for their next milestone vacation so they can travel without concern for late or hidden fees.”
Agoda joins over 200,000 Affirm retail partners, including American Airlines, Vrbo, Priceline, Vacasa, and more. Offering Affirm at checkout can reach new customers, drive overall sales, increase average order value and customer repurchase rates.
About Affirm
Affirm’s mission is to deliver honest financial products that improve lives. By building a new kind of payment network — one based on trust, transparency and putting people first — we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we show consumers exactly what they will pay up front, never increase that amount, and never charge any late or hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook | Twitter.
About Agoda
From its beginnings as an e-commerce start-up based in Singapore in 2005, digital travel platform Agoda has grown to offer a global network of over 2.5 million properties in more than 200 countries and territories worldwide, offering travelers easy access to a wide choice of luxury and budget hotels, apartments, homes and villas, to suit all budgets and travel occasions. In 2019, Agoda added a flight product and packages to help make travel even easier.
Headquartered in Singapore, Agoda is part of Booking Holdings (Nasdaq: BKNG) and employs more than 4,000 staff in 30 countries. Agoda.com and the Agoda mobile app are available in 39 languages.
Your rate will be 0% APR or 10–30% APR.Payment options through Affirm are subject to eligibility, and are provided by these lending partners: affirm.com/lenders. Options depend on your purchase amount, and a down payment may be required. Affirm, Inc., NMLS ID 1883087. Affirm Loan Services, LLC, NMLS ID 1479506. CA residents: Loans by Affirm Loan Services, LLC are made or arranged pursuant to a California Finance Lender license.
