Business
Humm banks on buy now, pay later as credit cards decline – The Australian Financial Review
The company formerly known as Flexigroup confirms it will expand into Canada and Britain as its instalment payment volumes grows.
The presentation showed customers flocking to instalment products as the credit card book shrinks. This reflects the big consumer shift away from revolving credit, towards paying over time in fixed instalments, along with credit card customers using COVID stimulus payments to reduce costly balances.
Humm has 2.6 million customers, up 40 per cent over the past year as customers take up its new digital shopping offering. App downloads were up 89 per cent to 540,000 at the end of the half, with new…
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