Dubai: The ‘buy now, pay later’ option for consumers has entered the luxury hotel space as well. Palazzo Versace Dubai has laid claim to be the first in luxury hotel region to introduce the option on all experiences, including stays and F&B to spas and banquets.
Guests can now book with a ‘no interest, no cost, no catch’ policy.
An emerging trend in the retail industry, buy now, pay later services provide access to more economical spenders by allowing them to pay in multiple, interest-free instalments. Guests who want to purchase experiences at Palazzo Versace Dubai can now use the fintech platform Spotii to pay in four convenient installments instead of paying the full amount upfront, paying 25 per cent upfront with any debit or credit card. The remaining is split over three equal instalments and automatically paid in the future.
The service is completely free of charge for customers. Customers can pay for their experiences on-demand in four interest-free instalments by scanning a QR code placed in the hotel’s restaurants, spa, salon and reception areas. Guests can sign up to the service by downloading the Spotii app, filling out their profile and bank details. Once signed up, customers can simply scan the QR code on the spot and the first instalment will be deducted immediately, making bookings as seamless as ever.
“We are already seeing travel open up further and believe BNPL can provide consumers a way to make the most of their luxury vacation while sticking to their budgets,” said Ziyaad Ahmed, COO of Spotii. “This is the first partnership of its kind and Spotii is thrilled to be partnering with the incomparable Palazzo Versace Dubai to make all of its luxury services more accessible to its customers.”
BNPL in tourism
The partnership will open up a range of new possibilities for frugal travellers, making previously unattainable luxury experiences available to a broader audience. Already proven a game-changer in the retail industry, the BNPL service is now taking on the hospitality world by reducing the difficulty of making full payments in one go. The service also guarantees to offer the hospitality business a significant boost, all the while attracting a new pool of valuable customers to maintain a steady stream of guests year-round.