The Hut Group agrees humm buy now pay later tie up
ASX listed alternative credit provider humm has announced a multi-market partnership with online retailer The Hut Group.
This will enable end consumers to pay in 5 or 12 instalments, offering up to £3,000 interest free over a maximum of 12 months.
The agreement will be rolled out across the UK, Ireland, Canada, Australia and New Zealand.
In the UK, where humm is focusing on growing its merchant base ahead of a full consumer launch later this year, the service will be used as a payment option by THG's own brands, which include allsole, ESPA, Glossybox, MyBag, Coggles, IWOOT, TheHut.com, Lookfantastic and Myprotein.
humm will integrate with THG’s end-to-end technology platform, THG Ingenuity, allowing brands to offer its interest-free payment options ‘pay in 5’ and ‘pay in 12’ internationally.
Both options will require the first payment at the point of purchase.
Humm UK and Ireland CEO, PJ Byrne, says: ‘As we continue to grow our UK presence following FCA approval, we’re thrilled to be able to bring our global reach to THG brands and partners.”
“We’ve seen a huge increase in demand for split-payment solutions, embedded directly into e-commerce platforms, bringing benefits of flexible credit directly to customers.”
“This partnership is the next step in our ambition to bring the credit market into the 21st century, offering a range of credit solutions at different stages of customers’ lives.”
