Latitude chief executive Ahmed Fahour says his group will be able to offer a range of interest-free loan products to Humm’s buy now,pay later and credit card customers.
Two years after Rebecca James joined Flexigroup as its chief executive,she says the buy now pay later group is finally ready to make its bet on the sector pay off.
Not all members of the buy now,pay later tribe have been created equal - which becomes apparent when they seek to tap investors.
Flexigroup chief executive Rebecca James says the company's move to change its name to humm is more than a makeover of its branding.
Flexigroup has confirmed that trading has softened this month,as it brings forward cost cutting measures and tightens credit assessment across its three lending businesses.
Would Afterpay survive if 40 per cent of its customers defaulted? That's one of the scenarios investors are crunching the numbers on as queues of freshly unemployed people snake around Centrelink offices around the country.
Afterpay shares have soared in a relief rally that also buoyed rival buy now,pay later stocks but concerns about the impact of the coronavirus continues to dog the sector.
More than $11 billion has been wiped from the valuation of Afterpay in less than a month as fears grow that its customers who are buying now won't be able to pay later.
Flexigroup has finally launched its buy everywhere and pay later service bundll to bring buy now,pay later style consumer financing to transactions as small as buying a coffee.
Flexigroup blamed weak retail conditions for a downgrade on Monday but UBS analysts said the damage was not from the consumer finance group's much touted buy now pay later business.