British Airways and Lufthansa have implemented a scheme which allows travellers to make a flight reservation by paying a deposit and then settling the balance a few weeks before departure.
According to a study, 39% of respondents said the "pay when you fly" (PWYF) option is the most appealing payment method.
The report, carried out by Opinium on behalf of travel technology company Amadeus, claims 46% of 5,000 travellers said "refund uncertainty" was their top concern with overseas travel.
Around 4,000 respondents said the increased risk of cancellations due to the pandemic is a barrier to booking travel this year.
But, according to Amadeus, the PWYF scheme "could boost industry revenues with travellers willing to spend 36% more per trip on average".
Bart Tompkins, managing director of payments for Amadeus, said the travel industry "needs to build confidence at every opportunity".
"We’re entering a critical phase for travel’s recovery," he continued. "We believe PWYF will drive traveller confidence, encouraging travel planning and booking even in an uncertain environment with changing government restrictions."