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:
PayPal Pay in 4 is a buy now pay later service available across thousands of retailers globally. Split your repayments into 4 equal instalments paid over 6 weeks.
With Zip Pay, you can get instant approval for a line of credit helping you to buy now and pay later. It is 100% interest-free and gives you complete control over how you make repayments. Find out exactly how it works.
Make large purchases by paying less with a Zip Money line of credit offering flexible repayment options, a long interest-free window and thousands of merchants to choose from. Find out if it's right for you.
If you want to purchase something higher than your approved amount can you split the sale between cash and the limit on your openly account?
NikkiMarch 19, 2018
Hi Craig!
Thanks for contacting finder.
Regarding your question, You can split the amount of the sale if the vendor will allow it. Also, this would only apply to in-store purchase and not online purchases.
Hope this information helps!
Best regards,
Nikki
JazmineMarch 9, 2018
Can you use it at 2 different stores or just the one?
Finder
JhezelynMarch 10, 2018Finder
Hi Jazmine,
Thank you for your comment.
Yes, you can use Openpay to more than one participating merchants. Kindly check the T&C that I sent to your email.
Regards,
Jhezelyn
JaymiMarch 8, 2018
I was wondering with open pay the first payment, is it made on the day and how will I know the price before I make the purchase? Is it a percentage of the overall? If so what percentage
Finder
RenchMarch 13, 2018Finder
Hi Jaymi,
Thanks for your inquiry.
At the point of purchase, Openpay will give you several repayment schedule options. You can choose the repayment plan best suited to you. Openpay has no interest. You pay back the amount of the purchase without needing to pay any interest. You can 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’re also able to make early repayments at no extra cost and there are late payment fees if you fail to make repayments on time.
You may contact Openpay support directly for further inquiry through their app or at a store that has Openpay.
Best regards,
Rench
AnneFebruary 8, 2018
What is the referral fee that is mentioned in my statement now when I first purchased my goods
Finder
MayMarch 1, 2018Finder
Hi Anne,
Thanks for your inquiry.
OpenPay will charge you a Referral Fee of $19.00 when you choose to close the continuing credit facility under your credit contract before the credit contract comes to an end. Also they will charge that fee (and other charges due to you) when you default which causes your contract to end/terminate.
Cheers,
May
KatFebruary 4, 2018
I’m wondering how u exactly make a purchase using Openpay iv been accepted/ shows on my account how much I can spend so I want to purchase something from godfreys what do I do? Do I literally go into the shop? Or do I purchase on openpay first then go pick the item up?
Finder
JonathanFebruary 26, 2018Finder
Hi Kat, thanks for your inquiry!
Openpay can be used at a physical store or through an online store. If you purchase through an online store then you can organise pickup for the item with the store by choosing your closest branch.
Best,
Jonathan
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
Finder makes money from featured partners, but editorial opinions are our own.
Finder is one of Australia's leading comparison websites. We are committed to our readers and stand by our editorial principles
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
If you want to purchase something higher than your approved amount can you split the sale between cash and the limit on your openly account?
Hi Craig!
Thanks for contacting finder.
Regarding your question, You can split the amount of the sale if the vendor will allow it. Also, this would only apply to in-store purchase and not online purchases.
Hope this information helps!
Best regards,
Nikki
Can you use it at 2 different stores or just the one?
Hi Jazmine,
Thank you for your comment.
Yes, you can use Openpay to more than one participating merchants. Kindly check the T&C that I sent to your email.
Regards,
Jhezelyn
I was wondering with open pay the first payment, is it made on the day and how will I know the price before I make the purchase? Is it a percentage of the overall? If so what percentage
Hi Jaymi,
Thanks for your inquiry.
At the point of purchase, Openpay will give you several repayment schedule options. You can choose the repayment plan best suited to you. Openpay has no interest. You pay back the amount of the purchase without needing to pay any interest. You can 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’re also able to make early repayments at no extra cost and there are late payment fees if you fail to make repayments on time.
You may contact Openpay support directly for further inquiry through their app or at a store that has Openpay.
Best regards,
Rench
What is the referral fee that is mentioned in my statement now when I first purchased my goods
Hi Anne,
Thanks for your inquiry.
OpenPay will charge you a Referral Fee of $19.00 when you choose to close the continuing credit facility under your credit contract before the credit contract comes to an end. Also they will charge that fee (and other charges due to you) when you default which causes your contract to end/terminate.
Cheers,
May
I’m wondering how u exactly make a purchase using Openpay iv been accepted/ shows on my account how much I can spend so I want to purchase something from godfreys what do I do? Do I literally go into the shop? Or do I purchase on openpay first then go pick the item up?
Hi Kat, thanks for your inquiry!
Openpay can be used at a physical store or through an online store. If you purchase through an online store then you can organise pickup for the item with the store by choosing your closest branch.
Best,
Jonathan