AirbNB has launched a new feature called “Reserve Now, Pay Letter”, which allows users to reserve an assets in the US, possibly allowing people to cancel their booking with less trouble if their plans change.
This feature applies to assets that have a “flexible” or “medium” cancellation policy. Flexible policies cancels their reservation until 24 hours before the check-in, while the medium policies allow the cancellation of the check-in to five days before the fee.
Users will have to pay the entire amount for their booking before the free cancellation period of the listing is over. AirbNB will send a reminder to users to pay before that date.
The company procurement-now, the pay-letter is not new to the Arena. In 2018, it launched a “pay Part Nau, later Part” product This allowed users to pay 20% or 50% in the first installment and later the rest. In 2023, the company worked closely with Clarna Users pay for their stay in four installments in six weeks,
Citing a survey conducted with Focaldata, AirbnB said 55% of the surveyed people preferred a flexible payment option, while booking a migration, with 42%, saying that they missed the properties while trying to locate the payment logistics with other passengers.
