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NASDAQ-listed MakeMyTrip Ltd’s fintech arm, TripMoney, has established a marketplace with 15 fin-tech players that include non-banking financial companies and banks to provide easy travel credit options.
The players, which include the likes of Capital Float, Zest Money, IDFC Bank, Kissht, Lazypay, Simpl, HDFC Bank, and others will offer book now pay later options on flight or hotel bookings. These players are available on both the MakeMyTrip and Goibibo apps.
MakeMyTrip, which is India’s largest online travel portal, in a statement said, it has seen a 60 per cent growth in its book now pay later transactions, quarter-on-quarter, over the past one year.
More than 75 per cent of its customers who opt for a book now pay later, chose no-cost EMIs (to be paid within 3 months) while the rest go for longer duration EMIs, it said in a statement. Besides offering book now pay layer options, MakeMyTrip will also offers EMI facility.
The short-term credit, that will be made available to travellers, will be through an underwriting platform that evaluates customers’ creditworthiness using data science models.
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