FlexiGroup Limited’s New BNPL Platform: humm

Ally Feiam By Ally Feiam | 09 May 2019

The founder of Buy Now Pay Later (BNPL) in Australia, flexigroup, consolidated two legacy platforms, OxiPay and Certegy EziPay to form humm.

There’s a new face in the BNPL game: humm. Going alongside legacy names such as AfterPay and Zip Pay, humm has aims to change the way shoppers purchase online.

Much like other delay pay apps, humm allows consumers to purchase items online without having to pay upfront, repaying the amount in separate periods of time. Previously known as Oxipay, humm offers consumers the option to spend anywhere from AUD$1 to AUD$30,000 interest-free.

FlexiGroup Limited announced the partnership of high profile retailers with the humm platform, who span in the health, beauty, home improvement and fashion categories. flexigroup’s CEO, Rebecca James, said: “Consumers are demanding to have greater control over their finances, and humm gives them the ability to finance the little things and the big things in a way that helps with affordability and managing their household budget.”

humm accounts for 17 per cent of the market share of the BNPL transaction volume in Australia, and 40 per cent of receivables. The platform has accumulated over 1 million customers shopping at 13,000 e-commerce platforms and in-store locations. In New Zealand, flexigroup has more than 160,000 BNPL customers, shopping at 1,700 seller locations. Since the announcement, humm’s shares have risen 23 per cent.

The following merchants have joined humm community:

  • Myer
  • Strandbags
  • IKEA Group
  • Solomon’s Carpets
  • National Dental Plan
  • City Fertility
  • National Hearing Care
  • JB Hifi NZ

Other BNPL platforms offer a variable of purchase size. Zip Pay allows consumers to buy items under AUD$1,000, and their counterpart, Zip Money allows purchases up to AUD$30,000. AfterPay offer purchases from AUD$0 to AUD$2,000.

James notes that “The addition of these leading brands across our target verticals reinforces the strength of humm’s offering – bringing new growth opportunities to retailers and delivering a unique and compelling user experience direct to consumers.”

humm allows consumers to buy ‘little things’ and ‘big things’. For ‘little things’, customers can spend up to AUD$2,000 and choose to repay fortnightly in five or ten slices over a span of two and a half to five month periods. humm’s ‘big things’ allow consumers to purchase items up to AUD$30,000. Depending on what and where they buy, can choose to repay within 60 months of purchase.

“We have a proud history of financing Australian and New Zealand lifestyles for over twenty years and have a strong reputation for innovating to meet changing consumer demand,” James explained. “Consumers are demanding to have greater control over their finances, and humm gives them the ability to finance the little things and the big things in a way that helps with affordability and managing their household budget.”

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