Afterpay vs Openpay

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.

Interest-free period8 weeksFull repayment term
Repayment term8 weeks (fortnightly instalments)Various plans available (e.g. 6, 12, 18 months)
Upfront and ongoing feesNone
  • Processing fee of $2.50–$3.95 for long-term plans
  • Establishment fee may apply for Open Plus plans
Late payment fees
  • $10 for failed automatic payments
  • $7 late fee if payment hasn't been made 7 days later
Late fees apply
Payment flexibility
  • You cannot change your payment schedule
  • You choose your own plan
  • You can reschedule to avoid late fees
SignupCan be done instantly online or in-store at participating merchantsCan be done online or in-store at participating merchants
AvailabilityFull Afterpay store listFull Openpay store list
  • Over 18
  • Live in Australia
  • Can enter into a legally binding contract
  • Have a valid email address and phone number
  • Use an Australian credit or debit card
  • Over 18
  • Have a valid Australian or New Zealand ID
  • Provide an email address and two contact numbers
  • Have a Visa or Mastercard debit or credit card
Credit scoreAfterpay reserves the right to report negative activity to credit providersOpenpay reserves the right to check your credit file and report negative activity to credit providers
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2 Responses

  1. Default Gravatar
    KathyJuly 30, 2018

    Is your credit history checked to see if you are eligible for Openpay?

    • finder Customer Care
      JhezelynJuly 30, 2018Staff

      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.


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