Firdous Hassan
Srinagar: Have got no money and yet you want to explore Kashmir.
No worries! You can realise this dream by completing your trip and paying later to the service provider.
Many tour operators have partnered with fintech lenders and non-banking finance companies (NBFCs) to initiate a “Travel-Now-Pay-Later” scheme for women globetrotters.
India’s leading travel agencies including Thomas Cook, SOTC , Kesari Tours, Wander Womaniya and many others are offering tour packages with financing options.
In their list of destination, they have also included Kashmir, which has become a go-to destination for women solo travellers.
Under this scheme, the travellers with a good credit history are eligible to apply for Holiday-now-pay-later”
According to the scheme, the travel company’s partner fintech lenders and NBFCs will assess the applicant’s creditworthiness.
The traveller must reimburse the fintech or NBFC lender with 15–25% of the total cost of their vacation package and any remaining funds upon
returning from their trip. There are no extra fees if the whole remaining balance is paid to the lender in one single payment. But the
lender will impose interest if you choose to pay in instalments.
Under this scheme, the travellers with a good credit history are eligible to apply for Holiday-now-pay-later”
According to the scheme, the travel company’s partner fintech lenders and NBFCs will assess the applicant’s creditworthiness.
The traveller must reimburse the fintech or NBFC lender with 15–25% of the total cost of their vacation package and any remaining funds upon
returning from their trip. There are no extra fees if the whole remaining balance is paid to the lender in one single payment. But the
lender will impose interest if you choose to pay in instalments.
In an exclusive conversation , Rajeev Kale, President & Country Head, Holidays, MICE, Visa – Thomas Cook (India) Limited said the women
travellers are emerging as a powerful segment in India’s travel evolution.
“With a growth in travel aspirations of India’s millennials and young working professionals seeking multiple travel opportunities despite financial constraints – flexible payment options like Travel-Now -Pay-
Later (TNPL) have witnessed over 25% increase after the pandemic. TNPL offers these customers a strong proposition because they allow the
flexibility of repayment over 3, 6, 9 or 12 months with no cost EMIs. We offer our customers with the option to opt for easy EMIs on their
holidays across destinations,” he said.
Saying that Kashmir has become a year-long favourite destination for Indians, Kale said his company’s data indicates a YoY growth of 20%
for the destination.
“While Kashmir leads preferences for winter due to its stunning snow-covered landscapes, tranquil surroundings, and winter activities, it is also spring and summer favourite as customers are keen to escape the heat and visit destinations with cooler climes,” he said.
Another leading travel agency of India , Holidays, SOTC Travel said they also offer “Travel- Now- Pay- Later” service to the women
travellers for various destinations including Kashmir.
“Travel is no longer restricted to a particular season – Indians are now leveraging on every opportunity to travel to domestic as well as
international destinations. To help our customers take a stress-free holiday, we offer them the option to opt for easy EMIs that offer them
the flexibility in repayment facilities,” said Daniel D’Souza, President & Country Head of the travel company.
Daniel said his company is also witnessing a growth in demand of 15-20% YoY for Kashmir. “We expect this trend to continue through the
year,” he added.
Pertinently, Jammu and Kashmir according to a travel trend report emerged as the most preferred destinations for solo travellers as
more people are inclined to explore places at their own pace and preference, said a recent travel trend report.
The research, conducted by leading travel fintech SanKash, found that almost “35 per cent” of solo travellers prefer Jammu and Kashmir for
vacationing.
