Irish-based fintech Humm has agreed a payments partnership with Arnotts' homeware department that will allow customers to buy furniture using the company's flexible payment products.

The company, which is part of the Australian-listed Humm Group, said the department store would integrate its end-to-end technology to allow customers to apply for credit approval prior to making a purchase.

Once they have bought the item, consumers can split repayments evenly over monthly or fortnightly instalments. The partnership will initially apply to products in the furniture division before potentially expanding to all homeware products.

“As humm continues to grow its extensive footprint across the Irish market, I am delighted to welcome our oldest and largest department store, Arnotts, on board," said PJ Byrne, CEO of Humm UK & Ireland.

"Over the last number of years, we have witnessed an increase in consumer demand for flexible, convenient payment solutions. By making high-ticket items affordable – but without the burden of high-interest credit or loans – Humm's products benefit both consumers and retailers alike.

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"This partnership with Arnotts is indicative of our broader ambitions to empower retailers to help their customers to make the purchases they want, using a structured payment plan with a zero interest or a low interest credit facility."

Angela Lowth, home & lifestyle interior stylist at Arnotts, said: “We are thrilled to offer our customers this new and exciting flexible payment solution by adding it to our suite of payment options on offer to help make the purchase of larger items, such as beds and furniture easier.” 

Humm claims its retail partners have reported an average order value increase of 40% with the introduction of the retail credit option for customers as an alternative to credit cards and high-interest loans. The company has 11,000 Irish-based businesses as partners.

Humm does not charge interest or an application fee on any products purchased between €80 and €499 offer even after the finance term has expired. There is a late payment fee of €9.

Photo: (l-r) PJ Byrne and Angela Lowth.