Australian fintech company Humm Group said on Monday an interim stop order issued by the country's corporate regulator restricting it from issuing buy-now-pay-later (BNPL) products to new customers had been revoked.
said on Monday an interim stop order issued by the country's corporate regulator restricting it from issuing buy-now-pay-later products to new customers had been revoked.the Australian Securities and Investments Commission's concerns regarding the target market determination for its BNPL products.
Target market determination rules require issuers of BNPL products to consider whether a product aligns with the financial objectives, circumstances and needs of consumers. "Hummgroup has addressed ASIC's concerns regarding the target market determination for the humm Buy Now Pay Later product," the company said in statement.Reporting by Himanshi Akhand in Bengaluru; editing by Deepa Babington and Sonali Paul
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