New Delhi: Many of us would like to take a break from stressful lifestyles after two years of the coronavirus pandemic and many travel cancellations. With the pandemic behind us and the holidays and year-end festivities fast approaching, travel season is back. Do you now have a last minute vacation plan but lack the funds to pay for it? Don’t worry! Travel Now, Pay Later (TNPL) is here to increase the reach of travel and leisure activities.
This program is being promoted by many travel agencies and aggregators. Millennials who are keen to travel are taking an interest in it. This program is open to travelers with a solid credit history. Using the program, you can reserve hotel rooms, train and plane tickets, or a complete itinerary. ,Also read: With this 1 rupee coin you can get 10 crore rupees; Do you have it?,
You can pay back the fintech lender in Equated Monthly Installments (EMIs) over a period of one to six months after you return from your trip.
Simply put, TNPL is a buy now pay later system where you buy goods and pay for them through EMIs.
When you schedule or go on a trip and pay for it, you are essentially taking out a loan or credit.