Ecommpay partners with humm to meet demand for online finance for Travel and high value Retail sectors

Ecommpay, the inclusive global payments platform, is enhancing its credit strategy in a new partnership with online finance specialist, humm. Addressing demand for flexible online finance solutions that go beyond the current Buy Now, Pay Later (BNPL) offerings, the collaboration will be especially valuable to the Travel and high value Retail sectors, complementing Ecommpay’s already wide choice of credit services.

BNPL has become an accepted credit tool for low value spend, up to around £500. However, for online merchants in the higher value spend sectors, such as Travel, Furniture, Jewellery, Sporting Equipment and Electronics there are limited finance options available, which can impact sales conversion. The Ecommpay partnership with humm aims to fill this gap.

UK and Ireland merchants using Ecommpay as their payment services provider will be able to offer online finance for goods and services up to £3,000 through humm, benefitting from a potential uplift in conversions as well as the value of sales. They will also improve cashflow, as Ecommpay processes the payment so that the merchant receives the full purchase amount up front. humm also offers longer instalment periods, making it a good fit for brands to deliver a responsible and easy to manage credit product in the current economic climate.

Commenting on the addition of humm to Ecommpay’s choice of online finance partners, Rosanna Helm-Visscher, Head of Global Partnerships at Ecommpay said: “There is a clear market opportunity to offer the flexibility of BNPL in the higher value goods sector, for everything from holidays to home improvements. Our new partnership with humm enables these businesses to help their customers spread the cost of their purchase, while also boosting checkout conversions and value.”

PJ Byrne, Chief Executive Officer of hummgroup added: “Ecommpay has a strong portfolio of clients in sectors where higher value goods are offered. We therefore saw the synergies between Ecommpay’s credit strategy and our own flexible finance service.”

Retailers failing to offer BNPL risk losing sales at checkout according to Ecommpay research conducted in 2023. Nearly half (45.2%) of retailers offering BNPL saw turnover increase. The convenience and flexibility of BNPL for consumers is also critical. Ecommpay research found 33.2% of British shoppers would remove items from their baskets if BNPL was not offered at the point of payment.

humm has a large product ecosystem that has evolved since the group started in Australia over 30 years ago. These products are designed to meet the core needs of shoppers, retailers, and small and medium enterprises.