How Humm Payment Makes Shopping Easier for Your Customers.pdf

The Humm extension for Magento PWA gives your customers flexible payment options. Integrate Humm, the retail installment payment plan feature, seamlessly into your store to offer your online customers a simple substitute for cash or credit card payments. Customers can use Humm to spread the cost of their purchases across partner stores, increasing their purchasing power and overall shopping experience.

Key Highlights:

Buy now, pay later option for instant purchases.
Interest-free instaliment plans for affordability.
Seamless checkout integration to reduce cart abandonment.
Real-time transaction monitoring and reporting tools for merchants.

1. How Humm Payment Makes
Shopping Easier for Your
Customers
Humm Payment

2. Introduction
The e-commerce market continues to increase. It's hard to stay ahead in
competition. Day by day, something new technology and strategy is
introduced to make shopping easier for customers. Humm Payment is one
such innovative solution that allows customers to split their payments into
manageable installments, making expensive purchases more affordable. This
flexibility can attract more customers and increase sales for businesses in the
competitive e-commerce market.
Humm Payment is quickly becoming a popular choice for customers who
value convenience and flexibility. It allows shoppers to buy now and pay later,
spreading the cost of their purchases over time without interest.

3. Humm Payment is most popular in Australia. One of the primary
reasons Humm Payment is popular with shoppers is its flexibility.
Compared with the traditional payment method, where customers
need to pay the full amount upfront, Humm Payment allows them
to divide their purchase into smaller and more manageable
installment plans. The customer can't afford to pay a big amount at
one time. Humm Payment offers you the BNPL method, whose
simple meaning is Buy Now, Pay Later. Customers can easily buy
products they want without the burden of immediate full payment.
1. Flexible Payment Plans
small things for smaller purchases (up to $2,000) and big things for
larger transactions (up to $30,000). The ability to choose a payment
plan based on the size of the purchase gives customers a great
deal of control over their finances and makes shopping more
accessible.
Humm offers two distinct payment plans:

4. Costs and Fees
Limit: Customers can make purchases up to a limit of $30,000, which is
especially useful for buying big-ticket items.
Repayment Time: For larger purchases (over $2,000), Humm allows customers
to repay over a period of 3 to 72 months. This extended repayment option
offers greater flexibility to manage finances.
Monthly Fee (MAK): For using the "Big Things" plan, customers are charged a
monthly account-keeping fee of $8.
Establishment Fee: A one-time establishment fee is charged when setting up a
Humm account for "Big Things" purchases, ranging from $30 to $110, depending
on the purchase amount.
Repeat Purchase Fee: For additional purchases made under the "Big Things"
plan, a repeat purchase fee of $29 is charged.
Late Payment Fee: In the case of a missed payment, customers are charged a
$6 late payment fee. To avoid this, Humm encourages customers to set up
automatic payments.

5. Humm Payment stands out from competition from many other BNPL services offered in the e-
commerce market. Humm Payment offers customers an interest free payment option. Customers
can enjoy the flexibility of splitting their payments over time without the fear of being charged extra
fees or interest. This feature can significantly reduce the stress and financial burden on consumers,
making it easier for them to make purchases while staying within their budget. For retailers
businesses, offering interest-free payment options can boost customer confidence, encouraging
them to make higher-value purchases and return for future transactions.
2. Interest-Free Shopping
Humm Payment is known for its fast and straightforward approval process, which adds to the
overall convenience for shoppers. With a quick sign-up and approval, customers can start
using Humm almost immediately. The entire process is streamlined, allowing customers to
apply online, get approved in minutes, and make their purchase without hassle.
By eliminating the long waiting periods often associated with credit applications, Humm
ensures that the buying process is smooth and seamless for your customers, leading to a
higher conversion rate at checkout.
3. Quick and Easy Approval Process

6. Humm Payment
Average Order
Value
20-30%
2020 2021 2021 2023 2024
0
20
40
60
80
100
120
140
These statistics show how integrating Humm
into your payment options can significantly
drive sales and improve customer
engagement.
Reduced Cart
Abandonment
Rates
35%
Boost in
Conversion Rates
12-22%
Repeat Purchases
15-20%

7. Transparency is a core value of Humm, and one way this is reflected is in the absence of
hidden fees. Customers are well-informed about the costs upfront, with no surprises down the
line. Humm Payment is clear about the total amount to be repaid, the number of installments,
and any applicable fees that may come with late payments. To have loyal customers for a
long time, you need to earn their trust, and that can only be achieved through being open and
honest with them.
4. No Hidden Fees
For many shoppers, managing cash flow is a priority, and Humm's installment plans are a
perfect solution. By allowing customers to stagger payments over weeks or months, they can
manage their finances more effectively without worrying about large, one-time expenditures.
This is especially useful for customers who may want to purchase a product right away but
don’t have the available funds at the moment.
With Humm, your customers can still make those purchases without straining their monthly
budgets. For businesses, this means fewer abandoned carts and more completed sales
5. Improved Cash Flow for Customers

9. Humm is designed to be accessible to a wide range of customers, including those who may not qualify for
traditional credit. With flexible eligibility criteria, Humm provides an opportunity for more people to access its
services. This inclusivity allows you to cater to a broader audience and tap into new market segments that may
not have been able to shop with you previously.
By offering Humm, you provide an inclusive shopping experience that appeals to both high and low-income
earners, increasing customer satisfaction and brand loyalty.
6. Inclusive Payment Option
Shoping cart abandonment is the biggest problem of e-commerce stores. Businesses don't know how to reduce
abandonment. How to increase conversion rate, how visitors convert to customers, and benefits for a long time.
One of the primary reasons customers abandon their carts is due to the upfront cost of the items they want to purchase.
Offering Humm Payment as a checkout option can help reduce this problem by giving customers the flexibility to pay over
time. As a result, they are more likely to complete their purchase, leading to higher conversion rates for your business.
Studies show that adding BNPL services like Humm can increase average order values as customers feel more
comfortable making larger purchases. This not only improves your revenue but also enhances the overall shopping
experience.
7. Increased Conversion Rates

10. Humm is designed to be accessible to a wide range of customers, including those who may not qualify for
traditional credit. With flexible eligibility criteria, Humm provides an opportunity for more people to access its
services. This inclusivity allows you to cater to a broader audience and tap into new market segments that may
not have been able to shop with you previously.
By offering Humm, you provide an inclusive shopping experience that appeals to both high and low-income
earners, increasing customer satisfaction and brand loyalty.
6. Inclusive Payment Option
Shoping cart abandonment is the biggest problem of e-commerce stores. Businesses don't know how to reduce
abandonment. How to increase conversion rate, how visitors convert to customers, and benefits for a long time.
One of the primary reasons customers abandon their carts is due to the upfront cost of the items they want to purchase.
Offering Humm Payment as a checkout option can help reduce this problem by giving customers the flexibility to pay over
time. As a result, they are more likely to complete their purchase, leading to higher conversion rates for your business.
Studies show that adding BNPL services like Humm can increase average order values as customers feel more
comfortable making larger purchases. This not only improves your revenue but also enhances the overall shopping
experience.
7. Increased Conversion Rates

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12. Humm Payment integrates smoothly with various e-commerce platforms, including Magento, WooCommerce,
and Shopify. This seamless integration ensures that your customers can enjoy a hassle-free checkout
experience without encountering technical issues. The simple setup and user-friendly interface allow businesses
to get started quickly, while the checkout process remains intuitive for customers.
By offering a seamless payment option like Humm, you reduce friction at checkout, leading to faster
transactions and happier customers.
8. Seamless Integration with E-Commerce Platforms
Security is a significant concern for online shoppers, and Humm addresses this by offering a secure payment
method. Humm uses advanced encryption technology to protect customer information, ensuring that their data is
safe throughout the transaction process. This level of security helps build trust between your brand and your
customers, making them more likely to choose your store over competitors who may not offer such secure
payment options.
9. A Safer Way to Pay

13. When you offer Humm Payment, you open up new promotional opportunities to attract and retain customers.
Humm often promotes its partnered retailers to its extensive customer base, giving your business additional
exposure. By marketing your store as a Humm-enabled retailer, you can attract shoppers who prefer the
flexibility of BNPL services, giving you a competitive edge in the market.
10. Promotional Opportunities for Your Business
Conclusion
Humm Payment is more than just a 'buy now, pay later' option; it's a tool that empowers customers to shop
confidently and conveniently. By offering flexible payment plans, interest-free shopping, fast approval, and
secure transactions, Humm enhances the customer experience and increases conversion rates for online
retailers.
Humm is currently only available to Australian residents, so applicants must have legal permanent residency in
the country to use the service.
Integrating Humm Payment into your checkout process could help you attract more customers, reduce cart
abandonment, and expand your business. If you want to stay competitive in the ever-changing e-commerce
landscape, accepting Humm as a payment method is a wise decision that benefits both your customers and
your bottom line.

14. THANK YOU!
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