- 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
See the full list of stores with Openpay
What features does Openpay offer?
- 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
Based on Openpay buy now pay later scores in Finder's 2024 Customer Satisfaction Awards.
How much does using Openpay cost?
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?
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Ask a question
How long till I get an email to confirm a payment? I’ve been waiting a bit.
Hi Will,
Thank you for getting in touch with Finder.
As per this page you’re looking at, after you register on the app, you’ll get an instant response regarding your application and once approved, you can use Openpay right away. Please contact Openpay directly via phone or email if you need further assistance on your application or payment.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
When I use Openpay In store , can I pay cash for the initial payment/ 20% deposit!?
Hi Sophie,
Thanks for getting in touch with Finder! According to the terms and conditions of OpenPay, the first instalment must be paid using a MasterCard or Visa debit or credit card issued in your name and is payable within the Participating Merchant’s store at the time of purchase or, where you make a purchase from a Participating Merchant’s website, at the time of your online purchase. If the total of your subsequent instalments exceeds the limit set by the Openpay Plan (“Credit Limit”) then you will be required to pay a larger first instalment at the time of purchase to ensure that Credit Limit is note exceeded.
Hope this clarifies!
Best,
Nikki
What is the weekly fee you pay?
Hi Zarina,
Thanks for getting in touch with Finder. I hope all is well with you. 😃
Openpay allows you to purchase now and pay later, with no interest. The only fee you will be paying is your monthly repayment. Upon buying an item, you choose how you want to make the repayment.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
How much is the setup fee on the first payment?
Hi Tamie,
Thank you for your comment.
There’s no initial investment or setup fee to start using Openpay. Depending on the plan type selected and the participating merchant in which you are shopping at, there may be no fees at all. In some instances, a small plan management fee will be applicable to each repayment. This fee varies depending on the merchant in which the purchase is being made. In the case of higher value purchases, an establishment fee may apply.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
Can I use my husband’s bank card details for my Openpay account? I mean can I use his credit card as I don’t have any bank account.
Hi Gemma,
Thank you for getting in touch with finder.
If you are an additional cardholder on your husband’s credit card account or having a joint bank account with him, that would be fine.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Thank you and have a wonderful day!
Cheers,
Jeni