MENLO PARK, California, February 11, 2021 / PRNewswire / -– Uprising, the only Buy Now, Pay Later (BNPL) enterprise solution serving the world’s largest travel brands, is seeing significant signs of pent-up demand for leisure travel and growing consumer interest in travel options. flexible payment when booking travel. Despite the impact of COVID-19 on travel, Uplift has signed important new partnerships with major travel brands and achieved 72% growth in monthly transaction revenue in the fourth quarter of 2020 and recently announced that he got a $ 68 million line of credit Atalaya Capital Management. The company’s Buy Now, Pay Later solutions are helping to lay the groundwork for a strong recovery in the travel industry in 2021.
“Buying now, paying later is not a new concept and has already proven its value internationally. It will be the economic boost needed to ignite the travel industry,” said Uplift CEO . Brian Barth. “There is a certain pleasure in living after having booked a trip and anticipating all these new life experiences. This anticipation is boosting travel bookings now for future vacations in order to give people something to look forward to. ”
Starting in the second quarter, Uplift signed new partnerships for Buy Now, Pay Later solutions with the following travel partners:
- Airlines: Aeromexico, Air Canada, Alaska Airlines, Azul Brazilian Airlines, Frontier Airlines, Porter Airlines
- Cruise companies: Hurtigruten, MSC Cruises, Uniworld, Virgin Voyages
- Tour operators and travel agencies: Air Canada Vacations, CostSaver, Grand European Travel, Insight Vacations, Transat, Trafalgar
Unlike other Buy Now, Pay Later solutions that bring customers to their own marketplace, Uplift works with merchants to build merchant loyalty and repeat purchases. Consumers simply select Uplift Pay Monthly at checkout when booking their trips.
Buy Now, Pay Later is already experiencing explosive growth in the retail space and becoming an integral part of e-commerce for Millennials and Gen Z consumers. Buy Now, Pay Later is expected to drop from 0 , 9% of e-commerce transactions in North America in 2020 to 3% by 2023. (Worldpay Retail Global Payments Report 2020) Travel brands are the next big growth opportunity and see Buy Now, Pay Later as a marketing strategy to capture increased demand from leisure travelers . This is especially important in today’s economic environment, as consumers seek to manage their spending over time.
Uplift has also extended its existing partnerships with the addition of new products and payment plan options:
- Interest-free financing with Carnival Cruise Line, CheapCaribbean and Apple Vacations
- Flexible payment terms with CheapCaribbean, Apple Vacations, World Travel Holdings and Universal Parks and Resorts Vacations
- Zero down payment options with Frontier Airlines, Volaris, Aeromexico and Spirit Airlines
In addition, the company is also announcement of a new member of the board of directors, Jeffrey Power, who manages Apple’s more than $ 200 billion investment portfolio as a director and chief investment officer of Braeburn Capital, an Apple Inc.
Uplift is the leading Enterprise Buy Now, Pay Later solution serving over 150 of the world’s leading travel brands. With personalized and flexible payment options, Uplift helps consumers control their budget and experience a world of travel. With a full range of payment options, Uplift increases customer conversion, revenue and loyalty for their merchant partners. To find out more, visit Uplift.com