Goldman Sachs insist $42.90, page-20

I've used Humm (although it was called certegy) and it was a mixed experience. I bought an engagement ring at a jewelry place. I had the money to buy it there and then but I saw the option to buy it in installments (interest free except they charge a monthly fee).

When I was presented with the paperwork in store there were a couple of things I wanted information on, in particular a fee that was involved in this "interest free" service. The ladies in the store had no idea how to answer any of the questions and got me on the phone to a certegy rep who was able to run me through the details.

I made some back of the envelope calculations and found the NPV of the cost to me was about $250. To me it was worth it over a 3 year period and I signed up. Had no issues since. Payment comes out every fortnight and every month there is a small fee.

This cannot and should not be compared to Afterpay which deals a lot more in smaller purchases and the maximum is $1500. I wouldnt have been able to use Afterpay in this situation.