Alternative finance firm Fly Now Pay Later is to provide a pre-departure credit a payment service to Moresand Group.
The option will be available through Moresand’s two main operating arms, online portal Crystal Travel and travel agency Travel CenterUK.
The service will also be integrated into a number of subsidiary travel groups, including Tour Center, Mabuhay Travel, Sam Travel and Worldairfares.
The agreement follows Fly Now Pay Later securing a £20 million funding partnership with consumer finance provider Honeycomb Finance in October.
This has helped the company to originate and manage a growing loan portfolio and to expand its online holiday credit service more widely across the travel sector with the aim of achieving double digit revenue growth in 2017.
Fly Now Pay Later has already partnered with Travelpack, Carlton Leisure, Benz Travel and 360 Travel Group.
Founder and chief executive, Jasper Dykes, said: “Our partnership with such an established and well regarded travel business as Moresand Group is an exciting opportunity for us to further expand our service, one that is a first for the UK market giving consumers an alternative option to pay for their holidays, through a fast, flexible and secure platform.
“This year, the number of holidays taken by UK consumers is projected to increase to 100 million.
“This will inevitably strengthen the demand for innovation in how consumers pay for their trips and as we increase the array of our travel groups partners we will look to capture an increasing share of the financing of these holidays.
“We anticipate a robust year of revenue growth this year and we are looking forward to building more partnerships with leading travel groups to provide greater choice and flexibility to customers and to boost travel operator performance.”
Moresand Group finance director Sukh Kang added: “The company is rapidly becoming one of the leading names in alternative travel finance and Fly Now Pay Later’s innovative solution offers a valuable product to travel groups like ourselves, as well as tangible customer benefits.
“We’re confident our customer base will see the appeal of a seamless credit decision, delivered instantaneously and without any noticeable disruption to the booking process – both online and offline.”