Openpay announces The Hut Group partnership enabling more UK customers to pay smarter
Openpay, the UK’s latest next-generation, interest-free payment solution, has today announced its newest signing The Hut Group (THG), the Manchester-based global e-commerce technology group and brand owner. The deal marks the latest growth phase for Openpay, the Australian fintech, which entered the UK market in 2019. The partnership will leverage THG’s large portfolio of prestigious brands including Myprotein and Lookfantastic.
THG operates more than 200 localised websites through its Ingenuity platform retailing goods in 169 countries. In the year to 31 December 2019, the Group grew total sales by 24% to £1.14bn. THG Ingenuity is THG’s proprietary, end-to-end technology and operating platform that has enabled the group to successfully build and scale its own global, direct to consumer brands and a growing portfolio of brands for international consumer goods groups and retailers including Nestlé, Procter & Gamble, PZ Cussons Beauty, Johnson & Johnson and Nintendo.
The partnership affords thousands of THG’s customers the opportunity to benefit from Openpay’s flexible interest-free, and easy to use ‘Buy now. Pay smarter.’ payment plans. UK customers can select plan lengths of between one and six months allowing them to spread the cost of their purchase to suit their needs whilst paying no interest. Customers are required to make an initial down-payment at the point of purchase, encouraging responsible spending and minimising returns.
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