OpenPay is no longer operating. It may not be used for new purchases, though existing customers must still pay off their remaining instalments.
Openpay is an innovative online and in-store payment solution enabling you to purchase now and pay later, with no interest. Openpay is available in Australia and New Zealand, spanning across different industries including retail, automotive, home improvement, medical and more.
Find out how the platform works in this guide.
How does Openpay work?
1. Signing up
Signing up for the service is simple. You first download the Openpay app from the App Store or Google Play Store. Then, you register basic information through the app, linking your new Openpay account to your Visa or Mastercard (credit or debit). Openpay will give you an instant response to your application and once approved, you can use Openpay right away.
You're also able to sign up for Openpay in-store when making a purchase.
2. Purchasing with Openpay
Once your Openpay account has been approved, you can use Openpay at more than a thousand participating merchants across Australia and New Zealand. These can be brick-and-mortar shops, home delivery businesses and online stores.
At the point of purchase, you need to choose Openpay as the payment option and select from among several repayment options using the app.
3. Repayments
After selecting Openpay as your payment method, you'll receive an instant decision from the app and, once approved, you'll be responsible for making the agreed repayments every two weeks. Repayments are automatically deducted as scheduled from your linked Visa or Mastercard. You can also make a payment early through the Openpay apSee the full list of stores with Openpay
Interest-free. Openpay works like a no-interest loan. You pay back the amount of the purchase without needing to pay any interest.
Borrow only as needed. Since you use Openpay at the point of purchase, you'll never be stuck with borrowing more (or less) than what you need.
Quick application. It'll take just a few minutes to download the app and sign up. Everything's done electronically and you'll get a decision instantly.
Instant in-store purchases. As long as the store is a participating business, you simply select Openpay as the payment method to complete the transaction.
You choose the repayment plan. At the point of purchase, Openpay will give you several repayment schedule options. You can choose the repayment plan best suited to you.
Automatic deductions. Unless you specifically choose to pay cash, check or money order, Openpay will automatically deduct the agreed repayment every two weeks from your linked Visa or Mastercard.
No processing fees for certain plans. If you choose a two-month plan you won't need to pay any processing fees.
Advance repayments allowed. You're able to make early repayments at no extra cost.
Payment reminders. Openpay sends out reminders before your scheduled repayments.
What do Australians think of Openpay buy now pay later?
4.04/5 overall for Customer Satisfaction — lower than the average of 4.17
4.09/5 for Trust — lower than the average of 4.38
4.01/5 for Customer Service — lower than the average of 4.08
Openpay is interest-free, meaning you won't have to pay any interest on your outstanding balance. However, Openpay charges certain fees in the following cases:
No interest. You will not be charged interest to use Openpay.
Plan management fees. These vary based on the plan selected and the price of your purchase, but will not exceed $5 per fortnight.
Deposit. A 10% deposit is required for purchases under $2000, and a 20% deposit is required for purchases over $2000.
Late fees. Openpay may charge you a late payment fee if you fail to make repayments on time, but these are capped.
How do I sign up for Openpay?
Signing up for Openpay is quick and easy:
Download the Openpay app from the App Store or Google Play Store.
Fill out the electronic application within the app. This includes simple, basic identifying information.
List the Visa or Mastercard (credit or debit) you want linked to your Openpay account and pay a small initial security deposit.
Instantly receive an approval or rejection.
You can also sign up for Openpay at the checkout of participating retailers.
To be eligible for Openpay, you must meet the following criteria:
Be at least 18 years of age
Have a valid Australian or New Zealand ID
Have a verifiable email address and two contact phone numbers
Provide a valid Visa or Mastercard (debit or credit card)
Should you offer Openpay?
Offering Openpay as a payment option in your store and online has a range of benefits for store owners. However, there may also be some potential drawbacks:
Pros
Increase conversions. Customers are more likely to make the transition from browser to buyer if your products are more affordable.
Increase average transaction value. Customers are more likely to make additional purchases when given the option to spread the cost.
Receive full upfront payment. Openpay offers full upfront payment to merchants (minus fees).
Increase brand loyalty. Flexible repayment options give customers good reason to make repeat purchases.
Fee refund on returns. If a customer returns something, Openpay will return almost all merchant fees.
Marketing opportunities. All of Openpay’s partnered merchants are featured on its website.
Cons
Fees. Merchants who offer Openpay must pay a merchant fee on all transactions made through the service. This fee is usually a percentage of the cost of the transaction. Fees will differ depending on your agreement with Openpay and the cost of the purchase.
Have more questions about Openpay?
You can choose your own payment schedule when you set up your account. However, you will always need to pay an initial instalment at the time of purchase. For most Openpay merchants and retailers, you will need to pay a 20% deposit at the time of purchase.
If you are unable to make a payment on time, you should contact Openpay directly to discuss your options.
If you need a refund of your purchase, any payments you've made will be returned to your linked credit card or debit card and any future instalments will be waived. Any processing fees already paid will not be refunded.
Openpay is PCI DSS Level 1 certified compliant meaning it uses the highest level of secure technology to help protect your information.
Openpay charges retailers to be listed on the platform and also makes money from fees charged to customers.
The minimum spend varies between businesses that offer Openpay. The minimum spend can range from $1 to $50 depending on the business.
Your payments will be automatically deducted from the credit or debit card you used to sign up. If you want to make an early payment, you can do so using the Openpay app.
Elizabeth Barry was the lead editor for Finder. She has over 10 years' experience writing about a range of topics with a focus on personal finance. You’ll find her writing and commentary in a range of publications and media including Seven News, the ABC, MSN, the Irish Times and Singapore Business Review. See full bio
Elizabeth's expertise
Elizabeth has written 211 Finder guides across topics including:
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I had a personal loan applied for that wasn’t done by myself and now is effecting my credit score. How do I have this removed?
Finder
SarahOctober 13, 2023Finder
Hi Paul,
If you want to complain about a transaction on your credit report, you should contact the relevant credit provider or credit reporting body. They must acknowledge your complaint within 7 days. They are required to make a decision about the complaint within 30 days. They may request evidence or supporting documentation to show that the loan was taken out without your permission. Best of luck!
ShinaJuly 16, 2019
Hi
My husband and I are about to get our home renovated and we spoke with a flooring company who are working with Open Pay.
Flooring renovation will cost us around $10000 and i am wondering if the credit limit is available in open pay and what will be the payment scheduled please.
I couldn’t find this information on Open Pay website.
Thanks. Shina
Finder
FayeJuly 17, 2019Finder
Hi Shina,
Thanks for contacting Finder.
Openpay has a credit limit and the credit limit is disclosed to you after you have been approved. Credit Limit details can also be found directly at Openpay’s website. For the repayment schedule, after selecting Openpay as your payment method, you’ll receive an instant decision from the app and, once approved, you’ll be responsible for making the agreed repayments every two weeks. Repayments are automatically deducted as scheduled from your linked Visa or Mastercard. You can also make a payment early through the Openpay app.
I hope this helps.
Kind Regards,
Faye
LeanneMay 21, 2019
Hi how long do you get to pay it back thanks
NikkiMay 21, 2019
Hi Leanne,
Thanks for your inquiry.
The good thing about Openpay is that they let you choose the repayment plan. At the point of purchase, Openpay will give you several repayment schedule options. You can choose the repayment plan best suited to you. Unless you specifically choose to pay cash, check or money order, Openpay will automatically deduct the agreed repayment every two weeks from your linked Visa or Mastercard. You won’t have to worry about missing payments since they send out reminders before your scheduled repayments. To add, you’re able to make early repayments at no extra cost.
Hope this was helpful. Don’t hesitate to message us back if you have more questions.
With care,
Nikki
BevMay 14, 2019
Hi there,
Just wondering if they accept people on a carers benefit ?
NikkiMay 15, 2019
Hi Bev,
Thanks for getting in touch with Finder! According to our page, the eligibility requirements of OpenPay are:
To be eligible for Openpay, you must meet the following criteria:
Be at least 18 years of age
Have a valid Australian or New Zealand ID
Have a verifiable email address and two contact phone numbers
Provide a valid Visa or Mastercard (debit or credit card)
As long as you have the means to make payments, that will suffice to use their service.
To sign up:
Signing up for Openpay is quick and easy:
Download the Openpay app from the App Store or Google Play Store.
Fill out the electronic application within the app. This includes simple, basic identifying information.
List the Visa or Mastercard (credit or debit) you want linked to your Openpay account and pay a small initial security deposit.
Instantly receive an approval or rejection.
You can also sign up for Openpay at the checkout of participating retailers.
Hope this helps!
With care,
Nikki
DanielMay 11, 2019
Hello! I was wondering why is there a credit limit when you still have to use your own money?
Finder
MaiMay 12, 2019Finder
Hi Daniel,
Thank you for reaching out.
Openpay is a pay now pay later scheme. Openpay works like a credit card where you purchase items without having to pay outright. Credit limit set to make sure that users are able to commit to their repayments and just spend on what you can pay. Once the installment plan is set, Openpay will direct debit the payments on the chosen schedule.
Hope this helps! 😊
Kind Regards,
Mai
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I had a personal loan applied for that wasn’t done by myself and now is effecting my credit score. How do I have this removed?
Hi Paul,
If you want to complain about a transaction on your credit report, you should contact the relevant credit provider or credit reporting body. They must acknowledge your complaint within 7 days. They are required to make a decision about the complaint within 30 days. They may request evidence or supporting documentation to show that the loan was taken out without your permission. Best of luck!
Hi
My husband and I are about to get our home renovated and we spoke with a flooring company who are working with Open Pay.
Flooring renovation will cost us around $10000 and i am wondering if the credit limit is available in open pay and what will be the payment scheduled please.
I couldn’t find this information on Open Pay website.
Thanks. Shina
Hi Shina,
Thanks for contacting Finder.
Openpay has a credit limit and the credit limit is disclosed to you after you have been approved. Credit Limit details can also be found directly at Openpay’s website. For the repayment schedule, after selecting Openpay as your payment method, you’ll receive an instant decision from the app and, once approved, you’ll be responsible for making the agreed repayments every two weeks. Repayments are automatically deducted as scheduled from your linked Visa or Mastercard. You can also make a payment early through the Openpay app.
I hope this helps.
Kind Regards,
Faye
Hi how long do you get to pay it back thanks
Hi Leanne,
Thanks for your inquiry.
The good thing about Openpay is that they let you choose the repayment plan. At the point of purchase, Openpay will give you several repayment schedule options. You can choose the repayment plan best suited to you. Unless you specifically choose to pay cash, check or money order, Openpay will automatically deduct the agreed repayment every two weeks from your linked Visa or Mastercard. You won’t have to worry about missing payments since they send out reminders before your scheduled repayments. To add, you’re able to make early repayments at no extra cost.
Hope this was helpful. Don’t hesitate to message us back if you have more questions.
With care,
Nikki
Hi there,
Just wondering if they accept people on a carers benefit ?
Hi Bev,
Thanks for getting in touch with Finder! According to our page, the eligibility requirements of OpenPay are:
To be eligible for Openpay, you must meet the following criteria:
Be at least 18 years of age
Have a valid Australian or New Zealand ID
Have a verifiable email address and two contact phone numbers
Provide a valid Visa or Mastercard (debit or credit card)
As long as you have the means to make payments, that will suffice to use their service.
To sign up:
Signing up for Openpay is quick and easy:
Download the Openpay app from the App Store or Google Play Store.
Fill out the electronic application within the app. This includes simple, basic identifying information.
List the Visa or Mastercard (credit or debit) you want linked to your Openpay account and pay a small initial security deposit.
Instantly receive an approval or rejection.
You can also sign up for Openpay at the checkout of participating retailers.
Hope this helps!
With care,
Nikki
Hello! I was wondering why is there a credit limit when you still have to use your own money?
Hi Daniel,
Thank you for reaching out.
Openpay is a pay now pay later scheme. Openpay works like a credit card where you purchase items without having to pay outright. Credit limit set to make sure that users are able to commit to their repayments and just spend on what you can pay. Once the installment plan is set, Openpay will direct debit the payments on the chosen schedule.
Hope this helps! 😊
Kind Regards,
Mai