The new humm business launches with 1 million registered customers, 12,000 merchants and Solomon Lew's Premier Investments, which owns brands such as Smiggle and Peter Alexander, as its latest merchant customer. Having had more of a bricks-and-mortar focus to date, humm will be pushing for more online business as it vies for market share with the likes of Afterpay.
FlexiGroup chief executive Rebecca James said it aimed to aggressively compete, and grow market share, in the $435 million buy now, pay later (BNPL) sector under the humm brand.
“We actually invented the product in Australia, we were the first company to have a BNPL finance product at the point of sale, and we did that about 20 years ago,” she said.
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