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`Travel-Now-Pay-Later’: India’s top tour companies unveil unique credit scheme for women tourists visiting Kashmir

February 21, 2024
Kashmir Snow covered Shikaras parked in Dal Lake under snow covered Zabarwan mountains after Srinagar receives much awaited seasons first snowfall in Srinagar Umar Ganie 3 scaled 1

Srinagar: Have you put off your Kashmir plan because of the financial crunch?

No worries! You can realize this dream by completing your trip and paying later to the service provider.

Many tour operators have partnered with fintech lenders and non-banking finance companies (NBFCs) to launch the Travel-Now-Pay-Later scheme for women globetrotters.

India’s leading travel agencies including Thomas Cook, SOTC, Kesari Tours, Wander Womaniya, and many others are offering tour packages with financing options.

In their list of destinations, they have also included Kashmir, which has become a go-to destination for women solo travelers.

Under this scheme, travelers with a good credit history are eligible to apply for `Travel-Now-Pay-Later’.

According to the scheme, the travel company’s partner fintech lenders and NBFCs will assess the applicant’s creditworthiness.

The traveler must reimburse the fintech or NBFC lender 15–25% of the total cost of their vacation package. The remaining funds must be paid after returning home. There will be no extra fees if the balance is paid in one single payment. However, the lender will impose interest if you choose to pay in installments.

Rajeev Kale, President & Country Head, Holidays, MICE, Visa – Thomas Cook (India) Limited told The Kashmir Monitor that women travelers are emerging as a powerful segment in India’s travel evolution.

“With India’s millennials and young working professionals seeking multiple travel opportunities despite financial constraints, flexible payment options like Travel-Now -Pay- -Later (TNPL) has witnessed over 25% increase after the pandemic. TNPL offers these customers a strong proposition because they allow the flexibility of repayment over 3, 6, 9, or 12 months with no-cost EMIs. We offer our customers the option to opt for easy EMIs on their holidays across destinations,” he said.

He said Kashmir has become a year-long favorite destination for Indians. Kale said his company’s data indicates a YoY growth of 20% for the destination.

“Kashmir is preferred in winter due to its stunning snow-covered landscapes, tranquil surroundings, and winter activities. It is also a spring and summer favorite as customers are keen to escape the heat and visit destinations with cooler climes,” he said.

Another leading travel agency of India, Holidays, SOTC Travel said they also offer “Travel- Now- Pay- Later” service to women travelers for various destinations including Kashmir.

“Travel is no longer restricted to a particular season. Indians are now leveraging every opportunity to travel to domestic as well as international destinations. To help our customers take a stress-free holiday, we offer them the option to opt for easy EMIs that offer them flexibility in repayment facilities,” said Daniel D’Souza, President & Country Head of the travel company.

Daniel said his company is also witnessing a growth in demand of 15-20% YoY for Kashmir. “We expect this trend to continue through the year,” he added.

Pertinently, Jammu and Kashmir according to a travel trend report emerged as  the most preferred destinations for solo travellers as more people are inclined to explore places at their own pace and
preference, said a recent travel trend report.

The research, conducted by leading travel fintech SanKash, found that almost “35 percent” of solo travelers prefer Jammu and Kashmir for vacationing.

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Avatar of Firdous Hassan

Firdous Hassan

Self-help believer, a gadget lover and nature's admirer.
Presently Senior reporter at The Kashmir Monitor with an experience of nine years in reporting business, crime, defense, politics and environment.Have also contributed to reputed media organizations including First Post, India Spend, Forbes India

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