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Airbnb has rolled out a new feature called “Reserve Now, Pay Later” that allows users in the U.S. to book a property without having to pay upfront. This new feature gives users the flexibility to cancel their bookings with ease if their plans happen to change.
Flexible and Moderate Cancellation Policies
This feature applies to properties with either a “flexible” or “moderate” cancellation policy. With flexible policies, users can cancel their reservation up to 24 hours before check-in, while moderate policies offer no-fee cancellations up to five days before check-in.
Users will be required to pay the full amount for their booking before the listing’s free cancellation period expires. Airbnb will send users a reminder to make the payment before the deadline.
Previous Payment Options
This is not Airbnb’s first foray into the buy now, pay later world. Back in 2018, the company introduced a “Pay part now, part later” feature that allowed users to pay a portion upfront and the rest later. In 2023, Airbnb partnered with Klarna to offer users the option to pay for their stays in four installments over six weeks.
User Preferences
According to a survey conducted by Airbnb in collaboration with Focaldata, 55% of respondents preferred a flexible payment option when booking a stay. Additionally, 42% mentioned missing out on properties while dealing with payment logistics with other travelers.
Airbnb is constantly evolving and looking for ways to improve the user experience. This new feature aims to provide more convenience and flexibility for travelers when booking their accommodations.
