Flexigroup and Mastercard Partner for Global Expansion

Power Retail By Power Retail | 23 Nov 2020

Flexigroup has announced its partnership with Mastercard to take bundll global. The strategic partnership aims to expand the application and distribution of what is known as the ‘world first BNPL everywhere platform’. 

Mastercard will work with its partners to further drive adoption and support development and is the first strategic partnership for humm ventures.

“While there are lots of BNPL platforms around the world, this latest development for bundll is differentiated in the way it is able to partner with existing banking systems and provide BNPL technology and products without needing to sign up local retailers, while still generating a sustainable revenue stream. With the growth of BNPL, Mastercard understands that many issuers around the world are looking to solve for this increasing consumer preference,” said Richard Wormald, the Division President at Mastercard Australasia.

This partnership will run for five years, and is expected to deliver a ‘sustainable growth’ plan for humm, as well as further expand the services to new customers across Australia.

The bundll platform, which is already available in Australia, gives shoppers to use the BNPL service anywhere that Mastercard is accepted. They can then ‘bundll’ their purchases into a single management budgeting service.

“The bundll platform is unique as it offers a turnkey but flexible solution to banks and other card issuers around the world. You don’t need to sign up merchants or integrate into legacy bank systems, and it will work in any regulatory environment,” explained Rebecca James, the CEO of Flexigroup.

“bundll’s proprietary affiliate programme also creates revenue sources globally, and creates a curated and unique shopping experience that is based on customer preference, not which retailer is paying for the click. Discussions are already well progressed with a number of banks under the strategic agreement.”

This is the first partnership for humm and is designed to spearhead further growth and innovations. This new partnership allows other companies both locally and globally, to partner with Flexigroup and utilise the product and technology in their own ecosystem.

“flexigroup has significant technology and data expertise within its market leading product suite, and through humm ventures we will collaborate and partner with the world’s best technology and payments companies to realise that potential. It will significantly increase the distribution potential for our technology stack so that our products can thrive in our partners’ ecosystems, without impacting our core business. We are excited about the opportunities that humm ventures will create to expand our market and the geographies in which we operate,” James explained.

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