AIRwin
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Didn't see this posted but please delete/merge otherwise:
Category: | Herald Sun
Category: | Herald Sun
Interest free payments to be available for VA bookings
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chrispy3276
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Virgin Australia allows customers to sign up to buy now, pay later flights
SOPHIE ELSWORTH, Personal finance writer, News Corp Australia Network
August 15, 2018 10:52am
JETSETTERS on a budget and unable to pay for flights upfront can use buy now, pay later schemes to book a holiday after another airline jumped on-board the scheme.
Paying for flights through payment schemes including Afterpay and ZipPay has taken off in Australia and today Virgin Australia revealed it was the third airline to offer this payment method for cash-strapped customers.
Zip Co has joined forces with Virgin Australia to offer interest-free payments for travel bookings.
This follows in the footsteps of low-cost carriers Jetstar and Tigerair who already offer customers the option of using buy now, pay later scheme Afterpay to book flights and pay them off in increments.
Zip chief executive officer Larry Diamond said the option to pay using the scheme will give customers an alternative way to pay for flights.
“The solution compliments the Virgin offering and will provide customers with payment choice,’’ he said.
Zip confirmed the process will take a few months to integrate before it is made available to passengers.
Customers can use either ZipPay or Zip Money used to book flights.
ZipPay is a digital wallet with an interest-credit limit of up to $1000.
It has a monthly account-keeping fee of $6 processed if there is money owing at the start of each month after an initial 60 day period.
Customers must make a minimum repayment of at least $40 per month.
Zip Money is a line of credit for bigger amounts — usually $1000 or more.
Customers have at least three months interest free across all products and a $6 monthly-account keeping fee applies while money is still owing.
After the interest-free period ends Zip Money customers still owing money are slugged interest at around 19 per cent.
A Virgin Australia spokeswoman confirmed the buy now, pay later scheme will be available on both domestic and international flights.
SOPHIE ELSWORTH, Personal finance writer, News Corp Australia Network
August 15, 2018 10:52am
JETSETTERS on a budget and unable to pay for flights upfront can use buy now, pay later schemes to book a holiday after another airline jumped on-board the scheme.
Paying for flights through payment schemes including Afterpay and ZipPay has taken off in Australia and today Virgin Australia revealed it was the third airline to offer this payment method for cash-strapped customers.
Zip Co has joined forces with Virgin Australia to offer interest-free payments for travel bookings.
This follows in the footsteps of low-cost carriers Jetstar and Tigerair who already offer customers the option of using buy now, pay later scheme Afterpay to book flights and pay them off in increments.
Zip chief executive officer Larry Diamond said the option to pay using the scheme will give customers an alternative way to pay for flights.
“The solution compliments the Virgin offering and will provide customers with payment choice,’’ he said.
Zip confirmed the process will take a few months to integrate before it is made available to passengers.
Customers can use either ZipPay or Zip Money used to book flights.
ZipPay is a digital wallet with an interest-credit limit of up to $1000.
It has a monthly account-keeping fee of $6 processed if there is money owing at the start of each month after an initial 60 day period.
Customers must make a minimum repayment of at least $40 per month.
Zip Money is a line of credit for bigger amounts — usually $1000 or more.
Customers have at least three months interest free across all products and a $6 monthly-account keeping fee applies while money is still owing.
After the interest-free period ends Zip Money customers still owing money are slugged interest at around 19 per cent.
A Virgin Australia spokeswoman confirmed the buy now, pay later scheme will be available on both domestic and international flights.
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