WASHINGTON, Sept. 15, 2016 /PRNewswire/ -- UATP announced today that they have teamed up with Affirm, an innovative financial services provider, to provide technology that will allow airlines' customers to purchase airfare in flexible installments, without a credit card. The partnership builds upon UATP's payment technology platform providing speed to market for the Affirm product.
"Cost can often influence a customer's decision to purchase, so travelers are more likely to have the confidence to buy when they can pay in smaller monthly installments," said Brad Selby, Affirm's Chief Development Officer. "This valuable partnership will allow Affirm and UATP's member airlines to better serve these customers' needs, and empower them while pulling in new sources of revenue."
Affirm is paid directly by the customer and settles the full amount with UATP's airline members. Affirm also takes on a significant portion of the repayment and fraud risk. Through the Affirm partnership, UATP airline members will be able to serve many responsible customers who may fall outside of the spectrum of traditional financing.
"Partnering with Affirm will make travel more accessible for customers who prefer to not use traditional credit cards to pay," said Ralph Kaiser, President and CEO, UATP. "Customers want more safe alternative payment choices and this will address that need by providing an option that has not been available to them before."
Working with Affirm gives travelers a more convenient way to pay over time on a schedule that fits their budget. Customers will be able to shop for airfare as they normally do, then click the Affirm link at payment, and apply for financing approval in real time. This application will not affect the purchaser's credit score.
For more information, visit UATP.com or www.affirm.com.
UATP is a global payment solution owned and operated by the world's airlines and accepted by thousands of merchants for air, rail and travel agency payments. UATP connects airlines to Alternative Forms of Payment which can expand reach and generate incremental sales globally. UATP offers easy-to-use data tools, DataStreamsm and DataMinesm, which provide comprehensive account details to Issuers and Corporate Subscribers for accurate travel management.
Accepted as a form of payment for corporate business travel worldwide by airlines, travel agencies and Amtrak®; UATP accounts are issued by: Aeromexico; Air Canada (TSE:AC) Air New Zealand (ANZFF.PK); Air Niugini; American Airlines (NASDAQ: AAL); Austrian Airlines; China Eastern Airlines (NYSE: CEA); Delta Air Lines (NYSE: DAL); EL AL Israel Airlines; Etihad Airways; Frontier Airlines; GOL Linhas aereas inteligentes S.A. (NYSE: GOL and Bovespa: GOLL4); Hahn Air; Heli Air Monaco; Japan Airlines (9201:JP); Malaysia Airlines; Qantas Airways (QUBSF.PK); Shandong Airlines; Transavia Airlines; TUIfly GmbH; Turkish Airlines (ISE:THYAO); United Airlines (NYSE: UAL) and WestJet.
AirPlus International issues the UATP-based Company Account for: British Airways (LSE: IAG) and Lufthansa German Airlines.
Affirm offers services that empower customers to advance their financial well-being. Our goal is to revolutionize the banking industry to be more accountable and accessible to consumers. Today, Affirm shoppers get the flexibility to buy now and make simple monthly payments for their purchases. Unlike payment options that have compounding interest and unexpected costs, Affirm shows customers upfront exactly what they'll owe — with no hidden fees and no surprises. Affirm also reaches a broader population of consumers through advanced technology and analytics that look beyond traditional FICO scores. These features increase customer satisfaction over other options.
UATP Corporate Communications
Wendy Ward, [email protected]
+1 202 774 5017