LockTrip Introduces Book Now — Pay Later Feature!
We are excited to announce that a major new feature was just deployed on the LockTrip.com marketplace and is now available to all of our users! Among other benefits, we expect it to boost conversion rates of newly acquired users and make the booking experience even more convenient for the existing ones.
Book Now — Pay Later!
The new feature is called Book Now, Pay Later — BNPL in short. And it allows you to do exactly that: Secure your booking without making any payment, conveniently get your confirmation and pay when you are ready to pay!
Boosting Conversion Rates
As part of our ongoing marketing campaigns, we noticed that some users are hesitant to make their first booking on the marketplace, because they never heard of the LockTrip brand and the available discounts appear too good to be true. As a result, new users are not always confident that the offers are legit and therefore may not want to risk a payment worth an entire vacation.
Following this observation, we thought about how we can mitigate the initial trust issue that is naturally accompanying a young brand like ours. Several measures were decided on, such as the strategic placement of rating scores from independent third parties (Trustpilot and Google).
But the biggest and most effective solution is the book now, pay later feature. Through it, hesitating users can safely place their booking without having to make any payment or even share their payment information. This makes it possible for the user to not only receive the booking confirmation, but also to call the hotel and verify its authenticity first-hand.
Thus, the sequence of events is reversed:
Default: Trust → Pay → Verify Booking
BNPL: Verify Booking → Trust → Pay
The removal of the trust barrier is expected to improve conversion rates for not only new users, but likely also for existing users who were so far hesitant.
How does it work?
The BNPL feature is integrated into all steps of the booking flow, which makes it very easy to use. You will quickly see through the hotel and room cards whether a certain offer is eligible for the BNPL feature.
To take advantage of the feature, simply proceed as usual and choose the BNPL option from the payment widget:
You don’t have to decide on your payment method yet. Once you confirm, the booking will be placed and become visible in your upcoming trips overview.
You now have a certain amount of time to make the payment, which depends on the individual room you booked. A countdown shows the amount of time you have left. If you fail to make the payment before the expiry of the countdown, the booking will be automatically cancelled.
We hope that you will enjoy this new feature and are looking forward to your bookings!
👉 Join the LockTrip Community
LockTrip is a blockchain-based travel marketplace that allows users to save up to 60% on their bookings by cutting out middlemen. Use your LOC token on the marketplace to secure an additional 5% discount (coming soon)!
