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What is PlanPay?

PlanPay is a flexible and customer-friendly layby software platform that at its core is designed to create affordability for travel products by spreading the price into unlimited prepaid instalments. A complete solution, PlanPay offers a multitude of features for customers giving them unrivalled flexibility, whilst also offering merchants omni-channel sales and marketing tools that enable more sales. Unlike any other payment platform, offering instalments, PlanPay’s unique point of difference is that the customer is required to pay in full before they redeem their purchase, thus no consumer credit or debt is involved to fund the purchase.

Not only does this enhance the buying experience for customers, allowing them to travel debt-free. It also provides merchants with a useful and socially responsible tool that leads to bookings further in advance.

For consumers much bigger basket sizes are accessible as they can pay less upfront, allowing them to commit to paying more overall through gradual instalments. For merchants, PlanPay offers a robust system to manage customer plans, refunds, and comprehensive reports, boosting sales and customer loyalty.

Key Features of PlanPay: Simplifying Payments for Merchants and Customers​

  1. Flexible Payment Plans: PlanPay enables customers to break down or spread their purchases into smaller, affordable instalments over time, giving them greater accessibility to larger ticket items without the burden of paying large amounts at one time.

  2. Checkout Experience: With the user-friendly PlanPay checkout experience, merchants can seamlessly integrate the PlanPay Price Preview Widget and the PlanPay checkout widget into their website, providing customers with a convenient and transparent payment process.

  3. Customer Portal: PlanPay's customer portal offers a centralised hub where customers can easily view and manage their payment plans. They can track their progress, update payment details, make payments, and even make changes to their plans when needed.

  4. Merchant Portal: The comprehensive merchant portal allows merchants to gain valuable insights into customer plans, view transaction details, issue refunds, and access reports. It simplifies the management of PlanPay and offers powerful tools for efficient customer relationship management.

  5. Customizable Payment Deadlines: Merchants can set payment deadlines tailored to their business needs. This feature provides flexibility while ensuring that customers meet payment obligations in a timely manner.

  6. Refund Policies and Non-refundable Deposits: PlanPay supports customizable refund policies, including the usage of non-refundable deposits. Merchants can set specific criteria for when amounts become non-refundable, allowing them to manage cancellations more easily.

  7. Plan Changes and Adjustments: PlanPay enables both customers and merchants to make changes to payment plans as necessary. Customers can adjust payment frequency, make one-time additional payments, or skip a payment within predefined limits. Merchants can also initiate changes, such as adding or removing products, adjusting shipment dates, or modifying the total amount.

  8. Missed Payment Handling: PlanPay provides a structured process for handling missed payments. This feature helps maintain customer payment accountability while providing them with opportunities to resolve any payment issues without additional operational overhead for the merchant.

PlanPay's comprehensive set of features empowers merchants to offer flexible payment options, enhances the customer experience, and streamlines payment management for long-term success.

Unlocking Opportunities: Industries that Benefit from PlanPay​

PlanPay can benefit a wide range of industries, particularly those where there's a significant lead time between purchase and delivery of the product or service. Here are some industries that could greatly benefit from using PlanPay:

Hotels and Accommodation​

  • Improved Cash Flow: Planpay allows hotels to secure bookings and receive partial payments upfront, ensuring a more stable cash flow even before guests arrive.
  • Increased Bookings: Offering installment options attracts more customers who might not be able to pay the full amount upfront, leading to increased bookings.
  • Customer Loyalty: Providing flexible payment options fosters customer loyalty, as guests prefer hotels that accommodate their financial needs.

Travel Agents​

  • Higher Sales Conversion: By offering an upfront installment option, travel agents can convert potential customers who might have been hesitant due to financial constraints.
  • Enhanced Customer Experience: upfront installment plans can enhance the overall customer experience, making travel more accessible and affordable.
  • Competitive Advantage: Travel agents that provide installment options may gain a competitive edge over those that only offer standard payment methods.

Airlines​

  • Increased Ticket Sales: upfront installment plans can encourage travellers to book flights earlier, boosting overall ticket sales.
  • Steady Revenue Stream: Airlines can benefit from a predictable cash flow, as they receive payments in multiple installments leading up to the departure date.
  • Budget-Friendly: Passengers can manage their travel expenses more effectively by spreading the cost over time, making air travel more budget-friendly.

Events​

  • Wider Attendance: Lay-by options for event tickets can attract a broader audience, as attendees can secure their spots with smaller, more manageable payments.

  • Reduced No-Shows: Attendees who have invested in an event through lay-by plans are less likely to be no-shows, which benefits event organizers.

  • Early Event Promotion: By offering lay-by plans, event organizers can start promoting their events well in advance, potentially increasing ticket sales.

Cruises​

  • Higher Booking Rate: Lay-by installment options can lead to an increase in cruise bookings, as travellers may find it easier to budget for and commit to a cruise vacation.

  • Customer Retention: By allowing customers to pay in installments, cruise lines can retain more bookings and reduce cancellations due to financial concerns.

  • Flexible Planning: Travelers can plan and book their cruise vacations well ahead of time while paying in increments, giving them more flexibility.

The Power of PlanPay​

By harnessing the power of its key features, PlanPay revolutionises the way merchants and customers approach payments. With flexible payment plans, an intuitive checkout experience, robust customer and merchant portals, customisable payment deadlines, and efficient handling of refunds and plan changes, PlanPay simplifies the payment process for both parties. Now, let's delve into how PlanPay works to provide a seamless and convenient payment solution.