23 March 2018, India:
MakeMyTrip has launched a new feature “Pay Later” for travel payments. Currently, the feature is available to selected users.
The company is also in talks with various fintech companies as it plans to scale up the feature across business lines and to all of its platforms including Goibibo and redBus, MMT said in a statement.
The statement added, “With this feature, MakeMyTrip is aiming to address the need-gap for micro credit while raising the seamless experience of online travel booking.”
Currently, the ‘Pay Later’ feature is available only for hotel booking. The feature will be extended to flight booking soon. MMT will set a pre-defined credit limit for its users. Users will have time to repay this amount.
Rajesh Magow, co-founder and CEO of MakeMyTrip said, “Consumer lending is a key unsolved need in India. As India’s leading online travel company, we have the capability to identify target segments by deploying advanced machine learning–built on our internal data such as purchase behaviour and related insights.”
MakeMyTrip was founded in 2000 as an online travel company by Deep Kalra and Keyur Joshi.
(Image – vencom.in)