The day has come that we can now pay-down on our travel the same as our holiday gifts. This is a great financial solution for the everyday person that lives paycheck to paycheck. CheapOair.com and OneTravel.com will now allow customers to seamlessly pay for flights over time. This new feature gives customers greater access to travel by offering them a quick, simple, and transparent way to book travel now and pay overtime in a layaway model. This is all possible due to Fareportal’s new partnership with the financial technology company, Affirm.
CheapOair and OneTravel customers can now apply at checkout for the option to pay in installments over a three-, six-, or 12-month period. Customers enter five simple pieces of information to check eligibility and a decision is made in real time. Upon approval, customers are offered between 10% – 30% APR and can see exactly what they’ll pay on a monthly basis for each of the three-term options available. For example, a $300purchase at 10% APR spread out over three months would cost a $101.69per month.
“Travel purchases can be expensive whether you’re traveling across the country or across the world,” said Sam S. Jain, Founder, and CEO at Fareportal. “We strive to be the most affordable travel booking option and we are pleased that our new partnership with Affirm will give our customers a simple payment option to make higher-priced transactions more manageable.”
“While travel is fun and exciting, many consumers want the ability to spread out the cost of a trip over time rather than part ways with the total cost up front,” said Max Levchin, Founder and CEO at Affirm. “Affirm gives Fareportal’s customers the ability to spread costs out over time without hidden fees or compounding interest and provides travelers with the confidence that they can afford it.”