Business owners in Mitre 10, Home Hardware chains get help with payment consistency as Metcash’s Independent Hardware Group signs a partnership for a buy now pay later (BNPL) business product.
Mitre 10 and Home Hardware are the largest supply network to trade businesses in Australia and partnered with hummgroup to provide a consistent, national offering for trade account holders.
The business product, hummpro, is now the exclusive BNPL partner for commercial customers in IHG’s two trade divisions and will be promoted as a payment solution for trade account customers at more than 400 stores throughout Australia.
The BNPL process is expected to deliver SMEs cashflow control and flexibility; customers have the option to pay monthly, to pause payments for an extra month or design an even longer-term payment plan to suit their needs.
The business solution can be used anywhere that Mastercard is accepted and doesn’t need to be integrated into existing merchant systems.
Annette Welsh, Independent Hardware Group CEO, said the new partnership will strengthen the group’s leading service position in the trade segment.
Welsh said hummpro will “complement our dynamic technology offer that has been built to reduce our customers’ CODB, minimise risk to their business and alleviate administrative burden”.
The CEO for hummgroup, Rebecca James, said the tie-up helps provide independent business owners in the Mitre 10 and Home Hardware chains with consistency.
“Small businesses are the beating heart of the Australian economy, but many have inconsistent income streams, no sector more so than building and trades. hummpro is a revolutionary product for these businesses, changing the barriers to SME financing.“
