Friday, September 9, 2016

CheapAir.com Offers Up Financing For Airline Flights

Calabasas-based online travelbooking site CheapAir.com, in what looks to be the first by a travel company, will let its customers pay on installment for an air flight, through a partnership with financial services technology provider Affirm. According to CheapAir.com, it will let users pay for flights using a monthly payment plan, letting users pay for flights using 3-, 6-, and 12-month purchase plans. CheapAir.com said it specifically launched the new payment option to reach customers, such as the estimated 67 percent of 18- to 29-year olds who do not have a credit card--the usual method of paying for airline flights. CheapAir said the interest on the new payment plan options will range from 10–30% APR based on creditworthiness. The new financing option is not unexpected from CheapAir.com, which started accepting Bitcoin for booking flights and hotels way back in 2007.