OYO Launches Stay Now Pay Later Option for Summer Travel
- ByStartupStory | June 14, 2023
OYO has unveiled a new offering called Stay Now Pay Later (SNPL) to enhance the convenience for Indian travelers in organizing their summer journeys. According to OYO’s Summer Vacation Index 2023, a significant 82% of Indians intend to travel during the summer season, with a staggering 92% opting for domestic destinations.
The introduction of the SNPL option enables travelers to chart their summer plans without the immediate financial strain, thereby increasing accessibility and flexibility in travel. OYO has collaborated with Simpl, a credit-based payments service, to bring this feature to fruition.
With the Stay Now Pay Later (SNPL) feature, customers can enjoy a credit limit of up to INR 5,000, which can be conveniently settled after a 15-day stay. This user-friendly option is presently accessible for Android users and will soon be extended to iOS users as well.
Commenting on the launch of the scheme, Abhinav Sinha, Global COO and Chief Technology & Product Officer, OYO said: “As a customer-centric organisation, we are constantly striving to make travel more convenient for our consumers. Travelling should only be about enjoying the experience with loved ones and we are constantly looking for solutions that help overcome any financial constraints that hinder our customers from pursuing their dream vacations. SNPL offers a convenient payment solution that caters to the needs of cashflow-conscious travellers.”
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