Introduction to Buy Now, Pay Later (BNPL) Payment Trend
Spain is witnessing a surge in the popularity of installment payments, with this payment method becoming indispensable, particularly in sectors such as technology, appliances, and notably, travel. A study conducted by Kantar for Floa indicates that nearly two-thirds (63%) of Spaniards prefer this payment modality, highlighting the growing demand for flexible payment solutions in a consumer-driven digital market.
Floa’s Expertise and Market Dynamics
Floa, a well-established player in the French market, brings its expertise in seamless installment payment solutions and efficient credit scoring to Spain. The company has already partnered with 80 firms in the travel sector, offering optimized payment experiences for advance bookings, last-minute getaways, and multi-destination trips.
Key Players’ Enthusiasm
Alexandre Carrera Lejeune, Floa Iberia’s Head, expressed excitement about the partnership, acknowledging Spain’s dynamic BNPL market and Floa’s position as a relevant European player in travel-related installment payment solutions.
On the other hand, Rafael Murillo Carqués, Commercial and Strategy Director of Iberia Cards, emphasized the alliance’s significance in providing customers with a smoother purchasing experience, both in Spain and France.
Promise of Competitive Pricing and Enhanced Approval Rates
Iberia Cards’ multi-lender platform, tailored specifically for this project, promises competitive prices and improved approval rates, reinforcing the value proposition for customers seeking flexibility when planning their travels.
Ease of Use and Security
Floa’s user-friendly platform is accessible to both consumers and merchants, capable of securely managing a high volume of transactions backed by the BNP Paribas Group. José Saloio, CEO of Floa, highlights the company’s vision to become a key BNPL player in Europe by 2025, blending fintech agility with the strategic support of a leading banking network.
A Milestone in Financial Services for Travelers
The partnership between Iberia Cards and Floa signifies not only a significant advancement in financial services for travelers but also a milestone in airlines’ adaptation to evolving payment demands. As consumers increasingly seek flexibility and convenience in their payment options, this collaboration ensures that travelers can enjoy a seamless booking experience while meeting their budgetary needs.
By leveraging Floa’s expertise and Iberia Cards’ industry-leading solutions, this partnership sets a new standard for payment innovation in the travel sector, enhancing the overall customer experience and driving greater accessibility to air travel for all.
