Humm / Oxipay Payment Gateway

This announcement details the transition for existing customers of a buy now, pay later service in Australia. From June 10, 2025, the original BNPL product is being retired and replaced with a new, regulated credit product. This change affects all current account holders who will need to apply for the new service to make future purchases.

• Product Transition: The original BNPL product is being renamed to 'humm Classic'. While you can manage and pay off existing balances, you cannot make new purchases with this old account after June 9, 2025.
• New Service Application: To use the new service, customers must download a new app, sign up, and submit a new credit application. A pre-approval option is available to simplify future applications with merchant partners.
• Increased Credit Limits: The new product offers significantly higher purchase limits, allowing for financing of up to $50,000 through participating merchants, subject to credit approval.
• Extended Repayment Terms: Repayment periods are much longer, with options to spread costs over up to 120 months via automatic fortnightly or monthly deductions from a nominated account.
• Regulated Credit Product: The new offering is a regulated credit product under the National Credit Code, involving formal income and expense assessments. All existing customers must complete a new application to use it.