Dashen Bank and the Ethiopian Airlines Group have announced an exciting collaboration that brings a new level of convenience to travelers. The partnership has introduced an innovative service called “Fly Now Pay Later,” which allows customers to book flights without paying the full price upfront. This initiative aims to redefine the travel experience by offering unprecedented flexibility in payment options.
“Fly Now Pay Later (FNPL) is an innovative way to purchase flights that allows travelers to book their trips without paying the full price upfront,” explained Mr. Yohannes Million, Chief Digital Banking Officer of Dashen Bank. Customers can choose between a six or twelve month payment period, providing them with the freedom to manage their finances more effectively. To enjoy this service, customers must open a bank account at Dashen Bank and remain as customers for a minimum of three months.
To ensure a smooth process, customers applying for the service are required to present the necessary documents along with a guarantee at their nearest Dashen Bank branch. This step is said to safeguard the interests of both the bank and the customers, creating a secure and reliable payment arrangement.
The collaboration between Ethiopian Airlines and Dashen Bank has received acclaim from industry experts. Mr. Lemma Yadecha, Group Chief Commercial Officer of Ethiopian Airlines, expressed his satisfaction with the partnership, stating, “At Ethiopian Airlines, we place great value on system and technology modernization.” He further added, “The new payment service we are launching today, ‘Fly Now, Pay Later,’ will offer customers additional payment flexibility and enhance the customer experience.”
The service’s credit period ranges from six to twelve months, and customers have the option to renew their credit limit at the end of the tenure. Dashen Bank’s IT department has developed a desktop application that is said will seamlessly integrate with Ethiopian Airlines’ FlyGate application. This integration allows Ethiopian Airlines to provide confirmed flight bookings and services to passengers upon successful payment confirmation received from Dashen Bank through FlyGate.
Using the “Fly Now Pay Later” service is a straightforward process. Customers will receive a spending limit from their Dashen Bank branch and an SMS confirmation, which they need to enter into the Ethiopian Mobile app to purchase flight tickets. Passengers can make single or multiple ticket purchases, up to the facility limit.
With a credit limit determined based on the customers’ borrowing capacity, up to a maximum of ETB 600 thousand, the “Fly Now Pay Later” strategy has gained popularity in the travel industry.