Total
0
Shares
humm group (ASX:HUM) - CEO, Rebecca James
CEO, Rebecca James
Source: Livewire Markets
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • humm group (HUM) has launched its business now, pay later product, hummpro
  • hummpro is a credit card designed to meet the flexible cashflow needs of businesses, allowing access to up to $30,000
  • The company says research shows small and medium enterprises across Australia and New Zealand are dissatisfied with traditional credit card and overdraft solutions
  • HUM says the new product is set to disrupt the $30 billion business credit card and line of credit market by providing frictionless access to funds, while also reducing the cost of finance for Australian and New Zealand businesses
  • humm group is trading flat at $1.27

humm group (HUM) has launched its business now, pay later product, hummpro.

hummpro is a credit card designed to meet the flexible cashflow needs of a medium-sized business across Australia and New Zealand as they invest and grow. The product allows access to up to $30,000 with flexible repayment options available.

hummpro suits business owners who want to track their cashflow in one place, from incidental spends to larger costs.

Unlike similar products that require suppliers to be onboarded and integrated into their network to accept payments, hummpro can be used anywhere a Mastercard is accepted.

The company says the new product is set to disrupt the $30 billion business credit card and line of credit market by providing frictionless access to funds up to $30,000, while also reducing the cost of finance for Australian and New Zealand businesses.

Chief Executive Officer Rebecca James says humm’s research shows small and medium enterprises (SME) across Australia and New Zealand are dissatisfied with traditional credit card and overdraft solutions. She says the HUM product removes the hoops owners normally have to jump through to access finance.

“With our quick approval and spend process, and our pay, pause and plan features, we’re providing small business owners with the ultimate control to manage their cashflow,” the CEO commented.

All small and medium business structures across Australia and New Zealand can use hummpro.

humm group is trading flat at $1.27 at 10:25 am AEDT.

HUM by the numbers
More From The Market Herald

" Credit Intelligence (ASX:CI1) launches ‘green’ BNPL

Credit Intelligence (CI1) will combine its buy now pay later platform with a number of other businesses in Hong Kong to offer green
Raiz Invest (ASX:RZI) - CEO Australia & Group COO, Brendan Malone

" Raiz Invest (ASX:RZI) announces investment by Seven West Media (ASX:SWM)

Media giant Seven West Media (SWM) has taken an investment stake in Raiz (RZI), in order to accelerate the growth of the financial

" CD Private Equity Funds Series releases half-year updates

The CD Private Equity Fund Series has released its latest half-year update for all three of its ASX-listed funds.