THG has partnered with buy now pay later (BNPL) firm Humm, to offer the payment service to its customers.
The payment option will be used by THG’s own brands, including allsole, ESPA, Glossybox, MyBag, Coggles, IWOOT, TheHut.com, Lookfantastic and Myprotein.
Humm is focused on growing its UK merchant base ahead of a full consumer launch later this year and will offer THG consumers the chance to pay for goods in five or 12 instalments, offering up to £3,000 interest-free over a maximum of 12 months.
The news comes after Humm was approved by the UK’s Financial Conduct Authority (FCA) as an authorised provider of credit in the UK.
However, the multi-market agreement with THG will be rolled out across the UK, Ireland, Canada, Australia and New Zealand.
Humm said it will integrate with THG’s end-to-end technology platform, enabling it to allow consumers to make big ticket purchases “as part of its vision to support consumers throughout their financial lives”.
Payment options will require the first instalment at the point of purchase, as well as “robust credit and affordability checks for all purchases”, the provider noted.
“We’ve seen a huge increase in demand for split-payment solutions, embedded directly into e-commerce platforms, bringing benefits of flexible credit directly to customers,” Humm UK and Ireland chief executive officer PJ Byrne said.
“This partnership is the next step in our ambition to bring the credit market into the 21st Century, offering a range of credit solutions at different stages of customers’ lives.”