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humm Launches BNPL for SMEs: hummpro
hummgroup is launching a Business Buy Now, Pay Later product to support SMEs, dubbed ‘hummpro’.
The product offering is ‘absolutely built for business’, Rebecca James, CEO of hummgroup, explained. The service is designed to meet the flexible cashflow needs of Australian and New Zealand SMEs.
“hummpro is absolutely built for business,” said Ms James. “Our research shows that SMEs across Australia and New Zealand are unsatisfied with their traditional credit card and overdraft solutions, so we’ve built a product that removes the hoops they normally have to jump through to access finance.”
The platform is universally accepted at every supplier that allows Mastercard payments and behaves like a ‘universal trade account’, the company explained.
hummpro aims to support and suit business owners who wish to track their cash flow in a single place – this includes incidental spending to higher costs.
“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 cash flow,” she said.
hummpro is accepted online and in-store. Furthermore, businesses can use it to pay supplier invoices. SMEs will be able to access up to $30,000 with ‘fair and transparent terms’.
“Close to three million SMEs contribute substantially to GDP across Australia and New Zealand; as the economy starts to rebuild due in no small part to this critical sector, we see hummpro as the perfect option, providing quick and flexible access to capital to help small business owners invest in a stable future,” said Ms James.