People are buying more and more online, and not just for basic necessities. This macro-trend has been the driving force behind the creation of e-commerce platforms, but also of start-ups such as the Italian company Scalapay, which was set up in 2019 and is a leader in Italy with its ‘buy now, pay later’ payment system, the innovative formula that allows goods and services to be purchased by deferring payment in three instalments without interest for the customer.
Movements are not only online but also in store: in the space of two years, Scalapay has become the partner of over 1,600 companies and has extended its operations to 4,000 physical shops.
The consensus towards this type of payment has literally ‘exploded’, spreading like wildfire, particularly among the Millennials and Generation Z target group. However, this new method of purchasing is also highly appealing to older consumers.
80% of Italians who have used the Scalapay financing system so far are aged between 18 and 45, 60% are women, and 64% have repeated their purchase within three months.
The opportunity for customers to defer payment in 3 interest-free instalments is a lever that can be used in a number of areas. With a young and dynamic team that has international experience in finance, technology and travel, Scalapay has decided to introduce this innovative method in the travel sector.
The Bnpl (Buy Now, Pay Later) formula has economic but also psychological implications: it is based not only on managing one’s monthly budget but also on the perception of what one can actually indulge in without feeling frustrated or guilty. On an emotional level, surveys during the pandemic found that one of the experiences people most missed was travelling.
Scalapay also recently conducted a survey of its user community of hundreds of thousands of people. It was found that respondents were willing to buy transport, accommodation, packages, but also experiences such as spas, amusement parks, museum admissions and sports activities.
96.1 per cent would travel more often if they could defer payment, 99.5 per cent would like to pay in three interest-free instalments and 87.6 per cent would take advantage of premium options such as accommodation in superior rooms.
The start-up Scalapay, which considers travel to be a strategic sector, fits into this panorama with excellent prospects.
Simone Mancini, ceo Scalapay, comments: “We launched our service with the intention of investing in a project that would support merchants and independent retailers. The reason we decided to invest in the travel sector is very simple: the products and services offered by this sector are, in fact, among the most requested by our community, those considered, so to speak, among the most pleasant of all“.
“We are moving into the travel sector with three clear objectives, the first of which is to increase awareness among the travel industry of the Buy Now, Pay Later consumer trend – says Matteo Ciccalè, Scalapay’s Sales Director -. At the same time, we are starting to work with qualified partners in the industry, initially focusing on online sales and gradually moving into offline sales. We also want to position ourselves as a marketing engine for our future travel partners in the Millennials & Generation Z catchment area and beyond, as an innovative payment system and as commerce experts”.