Rising inflation, sky-rocketing interest rates and economic uncertainty are threatening to burst the revenge travel bubble with many consumers tightening their purse strings and scaling back on non-essential spending.

In a bid to make travel more accessible and to help hoteliers secure future bookings, a new PayTech has entered the market allowing guests to pay before they stay, in upfront flexible instalments.

Unlike a buy now, pay later platform (BNPL) that encourages consumers to borrow credit, digital lay-by platform PlanPay allows guests to use their own money to make payment on their own terms with zero fees.

With the option to book a stay up to two years in advance, travellers can lock in room rates ahead of time to avoid potential price hikes.

Ovolo has become the first hotel company to partner with PlanPay and is hopeful that the partnership will encourage more consumers to stay at its hotels.

Specifically developed to help travellers manage their budget, PlanPay is suited to younger travellers and families who want to make memories of travel and adventure but avoid credit card debt.

PlanPay can be fully integrated and customised with a wide range of travel backend systems, meaning that set up is quick and easy for merchants and the payment platform can be seamlessly placed within a customer’s checkout experience.

PlanPay can also be made available without a checkout integration, through an agent-assisted checkout experience, where agents can simply and easily set up a payment Plan for their customers.

Regardless of how PlanPay is accessed, the experience is simple and free from credit checks.

“We are excited to launch with a brand like Ovolo who is always innovating the guest experience, to make it easier for their travellers to plan and pay for their next stay,” said Gary Burrows, CEO of PlanPay.

“As the first digital lay-by platform available in checkout, we offer instant approvals, no credit checks, and no penalty fees, which makes PlanPay the best way to eliminate the burden of budgeting.”

Say hello to PlanPay.