Flexigroup shares are up 14 per cent after the Afterpay Touch competitor announced leading retailers including Myer and IKEA and several health providers have joined its humm platform.
Flexigroup, which brought the buy-now, pay-later concept to Australia 20 years ago, last month merged its two legacy platforms Certegy EziPay and Oxipay into humm.
Flexigroup said on Wednesday the offering allows customers to spend up to $30,000 interest fee at 13,000 different seller locations, with payments spread up to five months for “little things” worth up to $2,000 and up to 60 months for “big things” worth more.
Other retailers signing up to humm include Strandbags, Solomon’s Carpets, JB Hi-Fi New Zealand.
Health providers National Hearing Care and City Fertility have also joined, as has National Dental Plan, allowing 500 dental practices around Australia to offer humm.
“We’re delighted with the response we’ve received from our retailers and it’s clear that there is strong demand for our differentiated proposition,” Flexigroup chief executive Rebecca James said.
Humm accounts for 17 per cent of all the buy-now, pay-later transactions and 40 per cent of receivables, Flexigroup said.