JetBlue Airlines announced today that it will partner with Marcus by Goldman Sachs to offer a way to finance flights and vacation packages over time.
MarcusPay is a no-deposit, no-fee, fixed-rate point-of-sale installment loan option that allows customers to pay for larger purchases over time. JetBlue, the platform’s inaugural partner, launched MarcusPay earlier this year exclusively for customers who book JetBlue Vacations packages that combine flights with hotels.
It is not a traditional layaway plan. You will need to apply for a MarcusPay loan through an application process on jetblue.com or jetbluevacations.com. But the advantage is that once you book your trip, you are protected against rising and fluctuating prices.
MarcusPay can be used for trips from $750 to $10,000, and customers can view their loan options in minutes. Clients will know how much they will pay and for exactly how long, with no fees, no upfront deposit required and a fixed interest rate. The first payment is not due until at least one month after booking the trip. MarcusPay loans are provided by Goldman Sachs Bank USA.
“With MarcusPay, we are adding more flexibility and simplicity to JetBlue’s travel booking process,” Andres Barry, president of JetBlue Travel Products, said in a statement. “JetBlue is pleased to be MarcusPay’s inaugural partner and to provide our customers with an additional way to finance their travel when the time is right. Marcus by Goldman Sachs and its latest offering is part of a transparent customer journey. Clients are assured of a fixed rate and the opportunity to pay in installments, eliminating some of the hassle and additional cost of planning a vacation.”
“MarcusPay provides customers with a smart alternative to financing large purchases,” said Elisabeth Kozack, director of Consumer Lending Partnerships at Marcus by Goldman Sachs. “JetBlue is a great partner for MarcusPay. They remain focused on meeting the needs of their customers and providing transparency, which helps them deliver a differentiated customer experience for travelers. We are delighted that MarcusPay is part of that.”