Hospitality solutions company, The Singer Group, through one of its group companies, Amazing Holidays, has partnered with Fomo Travel, to offer customers a convenient way to book and pay for their travel.
Fomo Travel, known as 'Africa's first lay-buy travel platform', is a Cape Town-based fintech travel start-up that offers its customers a convenient way to book and pay for future travel. Instead of having to come up with a large lump sum of cash up front, or getting themselves into credit card debt, customers can now book and pay off their holiday with a goal-based payment plan that lets them to systematically save for their trip, says the start-up.
Amazing Holidays is the Singer Group's online travel agency. The partnership, according to the two companies, brings an infrastructure to underpin the Fomo Travel platform, which consists of a team of experienced travel consultants, the latest travel technology and licensing. Travellers can choose their trip packages via Amazing Holidays and pay for them in advance through the Fomo Travel platform.
"Fomo Travel has developed a unique algorithm that underpins the digital lay-buy payment solution, allowing keen travelers to seamlessly book online using our unique payment mechanism," says founder and CEO, Andrew Katzwinkel."Fomo Travel is geared towards millennials, who may be prohibited from buying travel predominantly because they don't have a credit rating. This alternative payment method is well suited to that market. We're also targeting middle class working individuals who may have an inability to manage cash flow. It's also aimed at people who want to travel, but don't have the full cash up front and don't want to travel via credit," he adds.
Brian Singer, CEO of the Singer Group, says this is an exciting era for both Amazing Holidays and Fomo Travel. "The Singer Group has been on a growth trajectory for over 20 years now, and this will be our first foray into the fin-tech space. With Fomo Travel's technology and the Singer Group's decades of travel experience, it is a perfect partnership to ensure the success of this new venture - a venture which is set to disrupt the way travel has traditionally been sold," he notes.
Lee-Anne Singer, marketing director of the Singer Group, says the group's philosophy is that all South Africans should have the opportunity to explore and travel, not only in their country but the rest of the world as well.
"Holidays with family or friends are an essential ingredient to balance our fast-paced lives. We all need some downtime. With current payment models the majority of South Africans regrettably cannot afford to pay the full amount upfront for holidays which in turn deters the keen traveller from ever going on their dream holiday. Fomo Travel's unique lay-buy payment solution addresses this problem - and opens the world of travel to millions of people previously excluded. No credit checks and zero interest is payable," she says.
Fomo Travel differs from other Web-based travel offerings with the ability for customers to share their travel goal with friends and family on the platform and through social media. This allows them to receive outside contributions to lighten their financial obligation, essentially crowdfunding the travel experience, for example setting up a honeymoon fund to which friends and family can contribute.
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