American Express introduces buy now, pay later for flights

American Express introduces buy now, pay later for flights

American Express is introducing buy now, pay later (BNPL) options for US consumer cardholders paying for flights.

Customers booking flights costing more than USD 100 through AmexTravel would be able to use Plan It to split the cost into instalments with a fixed monthly fee.

BNPL had quickly become a popular payment option. In an American Express survey, more than one third of Americans said they looked for flexible payment options such as BNPL when travelling. Among millennials, 62% expressed interest in the model.

American Express was not the only company pursuing this opportunity in travel. Earlier that month, UK startup Fly Now Pay Later raised GBP 45 million in Series A funding.

Mongolian Fintech Association