In a bid to provide greater flexibility and convenience to Indian travelers, hospitality firm OYO has introduced the ‘Stay Now Pay Later’ (SNPL) program. This initiative allows customers to plan their summer travel without immediate financial burden, offering a credit-based payment solution in partnership with Simpl, a leading payments service.
Under the SNPL program, OYO customers will be provided with a credit limit of up to Rs 5,000, which can be settled after a 15-day hotel stay. The program is accessible through the OYO app’s home screen, where customers can choose the SNPL plan that best suits their requirements. During a pilot phase conducted with 10 percent of its user base, OYO witnessed an 8 percent increase in payment completion rates. Moreover, more than 40 percent of users opted for SNPL for transactions exceeding Rs 2,000, highlighting the program’s appeal to travelers seeking flexible payment options.
Initially available for Android users, the SNPL program will soon be rolled out for iOS users as well. Abhinav Sinha, OYO’s Global COO and Chief Technology & Product Officer, emphasized the customer-centric approach behind the initiative, stating, “As a customer-centric organization, we are constantly striving to make travel more convenient for our consumers. SNPL offers a convenient payment solution that caters to the needs of cash flow-conscious travelers.”
According to OYO’s Summer Vacation Index 2023 report, a significant 82 percent of Indians are planning to travel during the summer, with 92 percent of them opting to explore destinations within the country. SNPL aims to enable travelers to plan their summer trips without the immediate burden of financial constraints. By allowing customers to settle their bills after the completion of their stays, OYO hopes to enhance the overall travel experience and empower more individuals to embark on their desired vacations.
The introduction of the SNPL program aligns with OYO’s commitment to providing innovative solutions and enhancing customer satisfaction. By partnering with Simpl, OYO leverages the expertise of a reputable credit-based payments service, ensuring a secure and seamless experience for users.
As travel demand continues to surge, OYO’s SNPL program arrives as a timely offering, assisting Indian travelers in managing their expenses effectively while enjoying their summer getaways. With this initiative, OYO reinforces its position as a pioneer in the hospitality industry, catering to the evolving needs of travelers and revolutionizing the way accommodations are booked and paid for in India.
