To address the need for flexible online finance solutions that go beyond conventional BNPL offerings, Ecommpay has joined forces with humm, an online fintech company. This collaboration is particularly beneficial for sectors such as travel and high-volume retail.
Enhancing Credit Strategies in High-Value Sectors
Ecommpay, recognizing the gap in credit solutions for higher-value goods, including items like travel tickets, furniture, jewelry, sports equipment, and more, has partnered with humm to fill this void. The alliance aims to provide UK and Ireland merchants using Ecommpay as their payment service provider with an opportunity to offer online finance services for goods worth up to GBP 3,000.
This partnership not only benefits consumers by potentially increasing the conversion rate and sales value but also enhances cash flow for merchants who can receive the full purchase amount immediately. Moreover, humm’s installment plans are well-suited for businesses seeking a responsible credit product that customers can manage easily.
Ecommpay sees this collaboration as an opportunity to introduce BNPL flexibility into higher-value goods markets, helping customers spread the cost of their purchases and thereby boosting checkout conversions and satisfaction among customers.
A study conducted by Ecommpay in 2023 revealed that merchants offering BNPL services often see increased turnover. Specifically, 45.2% of retailers who provided BNPL options experienced a rise in sales.
