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- Digital consumer credit business MoneyMe (MME) has entered the buy now, pay later market and launched MoneyMe+
- MoneyMe+ will allow customers to shop using a buy now, pay later platform where they can spend up to $50,000
- The team behind the new payment solution are former Zip Co employees
- Additionally, MoneyMe has achieved a new lending milestone — since it was founded back in 2013, MME has lent $500 million across 240,000 originations
- Today, MoneyMe is up 17.7 per cent on the market and shares are trading for $1.27
Digital consumer credit business MoneyMe (MME) has entered the buy now, pay later market and launched MoneyMe+.
The new payment solution MoneyMe+ will allow customers to shop using a buy now, pay later platform where they can spend up to $50,000. Significantly, the team behind the new payment solution are former Zip Co employees.
MoneyMe’s new platform will include interest-free repayment terms ranging from six to 48 months and claims to offer customers fast online approval and a seamless checkout experience.
The payment solution will now launch in the solar, healthcare, cosmetics, home improvements, education, automotive, and trades services sectors.
Positively, the group has already added over 55 merchant partnerships to its existing point of sale offering, which boasted a closing gross loan book of around $6 million at the end of June.
Lending milestone
Additionally, MoneyMe has achieved a new lending milestone — since it was founded back in 2013, MME has lent $500 million across 240,000 originations. 35 per cent of originations to date were executed in FY20.
MoneyMe is up 17.7 per cent on the market today and is trading for $1.27 at 2:07 pm AEST.
