UATP Strengthens 'Buy Now, Pay Later' options with Floa
Partnership with
The partnership, slated to go live in Q4, will open up Floa well-established Buy Now Pay Later (BNPL) payment solutions, to UATP's Network. Floa BNPL solutions are a flexible form of short-term financing that allows consumers to split their payment in 3 or 4 equal installments over 90 days.
Floa, owned by
Demand for BNPL is on the Rise
BNPL has rapidly gained traction with consumers, prompting merchants across verticals and markets to consider adding it as an option at checkout. The FIS-Worldpay Global Payments Report 2024 found that, globally, BNPL transaction values jumped 18% year-on-year between 2022-23 and anticipates a CAGR of 9% through 2027.
The latest Floa-Kantar survey https://group.bnpparibas/en/news/buy-now-pay-later-solutions-are-reaching-maturity-and-becoming-a-part-of-daily-lifefound that 68% of Europeans have already shopped in installments or via deferred payments, and 40% use this option at least eight times a year. 38% of European consumers using BNPL have used it for travel expenses. This payment facility has become a genuine growth lever for merchants in
This survey also discovered traveler preferences for alternative forms of payment differ across markets. In
This strong regional preference for BNPL highlights the importance of the Floa partnership and advances UATP's aim of empowering Merchants to offer the right payment option to the right customer at the right time.
A Partnership Based on Mutual Success
"Travel is one of the strongest use cases for installment payments, Floa and UATP have the domain expertise to become a leading provider of BNPL for European-based travel merchants," says
Both UATP and Floa acknowledge that speed-to-market is one of the key drivers of the partnership. UATP's platform has been architected so that implementing new payment providers and methods can be achieved through a single integration, using existing connections and technologies, taking less time and requiring fewer resources.
"Floa is a significant player in the BNPL space in some of
He added: "Like UATP, Floa is committed to innovation within the payments space. With the backing of a major bank, it already has a significant market presence and will continue adding new features to its offer, which we look forward to passing on to our Network merchants."
For more information about the UATP and the partnership with Floa or to speak with a UATP company executive, please contact
About UATP
UATP is the global network simplifying payments in complex industries. We make it easy for businesses to make or accept any type of payment; open new markets, drive growth and reduce costs for Issuers, Merchants, vendors, agents, aggregators and more. UATP is continually innovating to connect companies to new forms of payment (AFPs), and our easy-to-use data tools, DataStream® and
Accepted as a form of payment for corporate business travel worldwide by airlines, travel agencies and Amtrak®; UATP accounts are issued by: Aeromexico;
About Floa
Floa is the
Floa already has more than 4 million customers in
To learn more: www.floa.com
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SOURCE UATP
