Find out whether Afterpay or Openpay is the interest-free shopping platform for you.
Fintech has given rise to myriad "new ways to pay", and one of these is interest-free finance. While this was originally limited to layby or applying for a credit card with interest-free terms, providers such as Afterpay and Openpay are opening up a whole new world to shoppers looking to buy now and pay later (and who want to pay no or minimal interest and fees to do so).
Here, we've compared some of Afterpay's and Openpay's costs and features to help you decide which platform better suits your needs.
| Afterpay | Openpay | |
|---|---|---|
| Interest-free period | 8 weeks | Full repayment term |
| Repayment term | 8 weeks (fortnightly instalments) | Various plans available (e.g. 6, 12, 18 months) |
| Upfront and ongoing fees | None |
|
| Late payment fees |
| Late fees apply |
| Payment flexibility |
|
|
| Signup | Can be done instantly online or in-store at participating merchants | Can be done online or in-store at participating merchants |
| Availability | Full Afterpay store list | Full Openpay store list |
| Eligibility |
|
|
| Credit score | Afterpay reserves the right to report negative activity to credit providers | Openpay reserves the right to check your credit file and report negative activity to credit providers |
| More | Read the full review | Read the full review |
With after pay it tells you star offwith$500 max
How much is it with open pay or how am I find out?
Many thanks
Hi Gio,
Thanks for getting in touch with finder. I hope all is well with you. :)
Generally, you should know how much money you can borrow from Openpay upon approval of your application. You may also enquire about your starting credit by getting in touch with Openpay. If you need more information, please read our Openpay full review.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
Is your credit history checked to see if you are eligible for Openpay?
Hello Kathy,
Thank you for your comment.
Depending on the purchase you are making, you may be asked to consent to a credit check by Openpay. In those instances, your consent will be clearly requested before a purchase is made.
Regards,
Jhezelyn