Klarna Partners with UATP to Tap into the $1 Trillion Air Travel industry
Hey Payment Fanatic,
Klarna partners with UATP to tap the $1 trillion air travel industry and this is what we know:
The collaboration enables airlines to provide Klarna’s versatile payment solutions, such as interest-free Buy Now Pay Later, giving customers more flexible ways to pay for travel products and services
The $1 trillion air travel industry presents a key growth opportunity for Klarna, as credit cards currently make up 70% of retail travel payments. This leads to high costs for airlines, who spend $20bn a year on payment processing, and massive interest payments for consumers.
Wherever Klarna is available on a travel site, consumer adoption is very high: the total value of travel booked through Klarna has increased by 50% in the past year.
For UATP, integrating Klarna further strengthens the payment network's support for BNPL options.
Offering a variety of BNPL choices helps UATP merchants tap into a global BNPL market estimated at $14.55 billion this year and is expected to grow at a CAGR of 26.50% to reach $60.47 billion by 2030.
Cheers,
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