Global travel booking platform Agoda is offering interest-free credit card installments for travel with Visa and is the first online travel agency in the Asia Pacific region to offer this arrangement, according to a press release Wednesday (May 11).
The installment plan is available to HSBC Bank Malaysia credit cardholders and will be available in the coming years in locations such as Australia, Hong Kong, Singapore, Thailand, Vietnam and Philippines, each with varying issuing banks.
“As the world transitions from a pandemic to an endemic state, there is great demand for digital-first experiences to accommodate changing consumer behaviors and purchasing patterns,” Agoda Chief Financial Officer Thi-Mai-Linh Bui said in the release. “At Agoda, we are always looking for innovative ways to help people gain more accessibility – using technology to simplify the search, booking and payment processes.”
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Bui added that working with Visa gives travelers the ability to divide travel payments over installments, “allowing for greater flexibility and peace of mind” without additional charges or fees.
Headquartered in Singapore and co-founded in 2005 by Chairman Robert Rosenstein, Agoda is part of Booking Holdings and has a workforce topping 4,800 people in 32 markets. The company strives to tap the top technology to make travel easier, per the release.
“The buy now, pay later trend is here to stay, so add installments to the list of consumer expectations for speed, safety and convenience, even when they’re booking their holidays,” said Conor Lynch, head of consumer solutions, Asia Pacific , Visa.
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“It’s particularly great to see installment payments taking off in the travel industry at the same time people are getting their ‘revenge travel’ plans underway,” Lynch added.
Agoda works with a global network of 2.7 million hotels and holiday properties worldwide, as well as collaborating with flights, airport transfers and other travel-related businesses.