TOURVEST Travel
Services has introduced
a new product, Leisure
on Layby (LOL) – a book now,
pay later option for leisure
travellers.
The programme allows
travellers to pay off their trip
over a period of between
three and nine months,
interest free. They pay
an initial 20% deposit,
with monthly instalments
thereafter. Payment must
be complete 30 days before
departure.
“We are targeting those
who have always felt they
could not afford their dream
holiday,” says TTS gm, Maria
Watkins.
Research by TTS when
developing the product,
showed that the risk of
customers defaulting on
payments was very low, says
Maria. “Deposits are nonrefundable and that helps us
manage the risk,” she says.
TTS has partnered with a
technology company that
specialises in layby payment
mechanisms and manages
consumer payment terms.
This, says Maria, is what
gives LOL the edge in the
market, where similar layby
travel products already exist.
An example of the deals
on offer is a seven-night
stay at Zanzibar’s Karafuu
Village Beach Resort, which
includes return flights
ex-JNB, taxes, return airporthotel transfers, breakfast
and dinner daily, for
R36 800. Payment
over nine months will
mean a monthly instalment
of R3 271,11 after the
R7 360 deposit. Travellers
have the option of picking
their payment period when
requesting a quote.
Tourvest launches ‘book now, pay later’
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