Have you heard about TNPL?
Among customers opting for TNPL, SOTC Travel Ltd. has experienced a 7X surge in queries.
Travel aggregators report an average transaction size of Rs 1.5 lakh for an international travel loan and Rs 70,000 for a domestic travel loan.
TripMoney, has experienced a “4X growth” in the segment.
So, what’s TNPL? – Travel Now Pay Later – The slightest variation to the most adopted digital credit option – BNPL.
Be it a foreign destination or a domestic trip, your funding is now taken care of by a majority of travel agencies and fintechs. It’s an innovative collaboration to look forward to.
In that instance, CASHe partnered with IRCTC to bring “travel now pay later” for the customers.
What are the advantages of such a scheme?
1. TNPL options are now available with leading travel agencies.
2. With TNPL, you take a loan to book tickets and hotel expenses, then pay it back in installments later.
3. NBFCs and Banks provide short-term credit to aspiring travelers using data science models that evaluate their creditworthiness.
4. Ease of loan disbursement and repayment options are a plus.
India has a growing appetite for travel, and #TNPL could soon be a revolutionary lending segment.
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