Fintech humm enters into payment partnership with Arnotts
Customers can now make use of the entire range of financial products offered by the market-leading private customer credit provider
Trade
Irish-based fintech humm has formed a payments partnership with Arnotts. Starting with the furniture division, the partnership will enable Arnott’s customers to access humm’s flexible payment products.
Part of the ASX-listed Humm Group, Humm is the market-leading retail supplier in Ireland, and its products enable consumers to buy the goods and services they want, while spreading repayments evenly over monthly or fortnightly periods. Arnotts will integrate humm’s end-to-end technology; so that potential customers can apply for credit approval before making a purchase.
Since opening its decorative brass-clad doors for the first time in 1843, Arnotts has been a landmark in the heart of Dublin.
Flexible finance has grown in popularity in recent years, with humm’s retail partners reporting an average order value increase of 40% when the option of retail credit is provided to their customers. As consumer trends and preferences continue to evolve across physical, digital and omnichannel, it is important that flexible payment options are in place to meet this demand. While customers may traditionally have purchased more expensive goods using credit cards or high-interest loans, private customer credit has become the preferred option for many discerning consumers, who seek a more cost-effective payment option.
“As Humm continues to grow its extensive footprint across the Irish market, I am delighted to welcome our oldest and largest department store, Arnotts, on board,” said Humm Managing Director (UK & Ireland) PJ Byrne. “Over the past few years, we have seen an increase in consumer demand for flexible, practical payment solutions. By making high-ticket items affordable—but without the burden of high-interest credit or loans—humm’s products benefit both consumers and retailers. This partnership with Arnotts is indicative of our wider ambitions to enable retailers to help their customers make the purchases they want, using a structured payment plan with zero interest or a low interest credit facility.”
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