A recent report from PYMNTS Intelligence reveals that 26% of travelers now utilize credit card installment plans to cover their trip expenses. This trend highlights a shift where payment methods are increasingly integrated into the initial stages of travel planning rather than being treated as a final checkout decision.
The data indicates that one-third of consumers opted for card installments for various purchases over the last three months, while 14% utilized buy now, pay later (BNPL) services. These financial tools are now applied to both routine bills and discretionary spending, moving beyond specific retail categories.
Regarding spending habits, users of BNPL services for essential and discretionary items recorded an average expenditure of $1,070 over the three-month period. In comparison, consumers who chose card installment plans spent an average of $1,003, demonstrating the practical utility of these payment options for budget management.
