humm announces new global partnership with THG, following FCA approval

humm, part of ASX-listed Humm Group Limited, today announces its first major global partnership with THG plc – enabling end consumers to pay in 5 or 12 instalments, offering up to £3,000 interest free over a maximum of 12 months.

The partnership with the global digital-first consumer brands Group follows humm’s announcement of approval by the Financial Conduct Authority as an authorised provider of consumer credit in the UK. The multi-market agreement will be rolled out across the UK, Ireland, Canada, Australia and New Zealand.

In the UK and with humm’s focus on growing its UK merchant base ahead of a full consumer launch later this year, the alternative credit provider 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 humm’s interest-free payment options ‘pay in 5’ and ‘pay in 12’ internationally. The partnership will enable humm as a payment provider for consumers making big ticket purchases through the platform as part of its vision to support consumers throughout their financial lives.

As part of humm’s ongoing commitment to customer protection and responsible lending, both payment options will require the first payment at the point of purchase, as well as robust credit and affordability checks for all purchases.

Humm UK and Ireland CEO, PJ Byrne said: ‘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 21^st Century, offering a range of credit solutions at different stages of customers’ lives.’