LockTrip Introduces Book Now — Pay Later Feature
LockTrip is a blockchain-based travel booking marketplace designed to offer significantly discounted hotel and accommodation options. Their goal is to cut out the middlemen and commissions they charge, passing those savings directly to the traveler. LockTrip Book Now — Pay Later
LockTrip.com is excited to announce a major new feature deployment on its marketplace. This feature is now available to all users and is expected to boost conversion rates for newly acquired customers while enhancing the booking experience for existing users.
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 naturally accompanies a young brand like LockTrip. 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 LockTrip Book Now — Pay Later 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 expiration of the countdown, the booking will be automatically canceled.
