Join our daily newsletter At The Bell to receive exclusive market insights
- FlexiGroup (FXL) has launched a refreshed buy now pay later offering in New Zealand named humm
- Humm is the only product of its type in NZ that covers transactions as high as NZ$10,000 (around A$9189)
- The humm brand is replacing FlexiGroup’s Oxipay and the company will migrate its existing customer base and established distribution network
- The existing roster of 2400 merchants includes JB Hi-Fi, Farmers, Pascoes Group, as well as veterinary, health and dental providers
- Shares in FlexiGroup closed marginally higher at $1.09
ASX-listed payments company FlexiGroup (FXL) has launched humm – a refreshed buy now pay later (BNPL) offering in New Zealand.
Humm is the only product of its type in NZ that covers transactions as high as NZ$10,000 (around A$9189).
After a successful launch in Australia, humm has made the move into the New Zealand market, targeting higher cost purchases such as solar, renovations, fertility and health care services.
The humm brand is replacing FlexiGroup’s Oxipay and the company will migrate its existing customer base and established distribution network.
The existing roster of 2400 merchants includes JB Hi-Fi, Farmers, Pascoes Group, as well as veterinary, health and dental providers.
FlexiGroup NZ CEO and Deputy Group CEO Chris Lamers said humm would be a payment solution for customers of higher priced goods and services both in store and online.
“Our customers told us they love BNPL but were frustrated they couldn’t use it for purchases of more than NZD1,000, or extend the payment terms,” he said.
“Humm solves that problem. As well as meeting the needs of our current customers, it will appeal to families and homeowners more than traditional BNPL does,” he added.
Shares in FlexiGroup closed marginally higher at $1.09.
