Soon, for hotel reservations worth more than $200 on its US Expedia.com flagship site, Expedia, Inc., will begin offering a flexible-payment option, where a consumer could book now but pay in monthly installments, with different fees depending on the length of the re-payment period.
It's using a third-party system from Affirm, a banking technology startup that has recently received more than $420 million in funding. It's typical interest rate varies by the customer's credit record but is typically between a 10–30% annual percentage rate.
Delayed payment is popular in developing markets, where use of credit cards is less common.