Instalment payment option added to lastminute.com via Divido
A new instalment payment solution when booking travel through lastminute.com has been launched in the UK through a partnership with Mastercard and Divido, reports Martin Whybrow.
“Gives travellers greater flexibility to book and pay when convenient for them”
Divido offers a multinational white label platform for point-of-purchase lending. This provides instant access to credit by connecting shoppers to multiple lenders at the moment of purchase, whether buyers are online, on payment-enabled devices or in store.
With lastminute.com, the consumer applies for financing as part of the checkout process by providing personal information and selecting their desired loan term. If the loan application is approved, the consumer checks out as normal. The consumer’s monthly payments are automatic and transparent.
Divido claims retailers offering its platform can increase sales by up to 20% and average order values by 15%, whilst lenders and payment providers licensing Divido’s technology can expand their loan portfolios and grows transaction revenues. Over 1000 partners work with Divido including lastminute.com, Mastercard, BMW and BNP Paribas.
Zahir Khoja, senior vice president, Global Acceptance, Mastercard, says: “Our partnership with Divido and lastminute.com gives travellers greater flexibility to book and pay when convenient for them.”
Mastercard is seeking to offer new retail financing solutions “through partnerships such as this, which combine our technology with platforms that further boost the flexibility and convenience of the checkout experience, creating even more choice for consumers and differentiation for retailers and businesses”.
Christer Holloman, CEO, Divido, says: “Enabling choice through multiple lenders is a winner for consumers, and that gives retailers a competitive edge on big-ticket items and boosts loyalty, average order size and conversion rates.”
