$FXL - FLEXIGROUP - One to watch for the APT halo effect

$FXL - FLEXIGROUP - One to watch for the APT halo effect

FLEXIGROUP has been around for a LONG time - I used to sell their products when I worked at Harvey Normans in the very early 2000's and it was ridiculously popular (and profitable for Harveys) even then.

They are having a pretty good run at the moment positioning themselves as the "original" Afterpay play in the Australian market. With such a big push today I'd be cautious about a pullback but definitely a share to keep an eye on.

Today's Announcement

Australia’s original Buy Now Pay Later provider launches newest offer as Myer, IKEA, JB Hifi New Zealand, Solomon’s Carpets, Strandbags, National Hearing, National Dental Plan and City Fertility join the Flexigroup / humm platform to take total humm retailers to over 13,000

FlexiGroup Limited (ASX: FXL) (“flexigroup”) today announces that a number of new high profile retail partners have joined the humm platform. The addition of these tier one retailers in the fashion retail, health and home improvement categories represents continued momentum across humm’s target verticals.

Flexigroup, the inventor of Buy Now Pay Later (“BNPL”) in Australia has successfully consolidated two legacy platforms - Certegy EziPay and OxiPay - into an innovative and differentiated customer offer which enables shoppers to spend from $1 up to $30,000 completely interest free. humm accounts for 17% market share of the BNPL transaction volume in Australia (and 40% of receivables) with over 1 million customers shopping at more than 13,000 seller locations and e-commerce platforms. In New Zealand flexigroup has over 160,000 BNPL customers who can shop at over 1,700 seller locations.

Comment:

Nice little 7.3% bump over a couple of days.