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Afterpay vs Openpay

Afterpay or Openpay - Which is the interest-free shopping platform for you.


Fact checked

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.

Here, we've compared some of Afterpay's and Openpay's costs and features to help you decide which platform may better suit your needs.

Compare Afterpay vs Openpay

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
MoreRead the full reviewRead the full review

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14 Responses

  1. Default Gravatar
    KateSeptember 11, 2019

    What interest rate does Afterpay charge the retailer?

    • Avatarfinder Customer Care
      JeniSeptember 11, 2019Staff

      Hi Kate,

      Thank you for getting in touch with Finder.

      The fees that the retailer can be charged depends on their business’s agreement with Afterpay. You may know more on being an Afterpay retailer on this page.

      I hope this helps.

      Thank you and have a wonderful day!


  2. Default Gravatar
    LeeAugust 5, 2019

    Hi do you need to make the first payment upfront first

    • Default Gravatar
      NikkiAugust 5, 2019

      Hi Lee,

      Thanks for your question. Afterpay doesn’t require an upfront payment. On the other hand, Openpay requires you to pay ay a small initial security deposit when you link your Visa or Mastercard (credit or debit) to your Openpay account.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.


  3. Default Gravatar
    NatalieFebruary 23, 2019

    Is there an upfront charge when purchasing in store?

    • Avatarfinder Customer Care
      JoshuaFebruary 26, 2019Staff

      Hi Natalie,

      Thanks for getting in touch with Finder. I hope all is well with you. :)

      For Afterpay, there’s no upfront fee. For Openpay, you’ll pay a processing fee of $2.50–$3.95 for long-term plans. Moreover, an establishment fee may apply for Open Plus plans.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  4. Default Gravatar
    IsabellaJanuary 21, 2019

    With Afterpay I pay manually online in advance, when I get paid instead of it being taken out of my account. If I pay installments early on Openpay, will installments still be taken out of my account regardless?

    • Avatarfinder Customer Care
      JohnJanuary 22, 2019Staff

      Hi Isabella,

      Thank you for reaching out to finder.

      Since Openpay has automatic scheduled payments, you would still be deducted on the due date even if you made a payment early. Please note that it would actually be better to do the automatic payments since manually making a payment would generate a fee. Hope this helps!


  5. Default Gravatar
    TiffanyJanuary 4, 2019

    When is the first payment due?

    • Avatarfinder Customer Care
      JhezJanuary 5, 2019Staff

      Hello Tiffany,

      Thank you for your comment.

      For Afterpay, they allow you to pay for your purchase over 4 equal instalments due every 2 weeks. Hence, your first payment will generally be 2 weeks from the date you bought your item.

      For Openpay, once you have authorised them as your payment method, you will then be given several repayment options. The standard payment term for Openpay is no longer than eight weeks, with the default being an equal repayment every fortnight.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


  6. Default Gravatar
    GioSeptember 29, 2018

    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

    • Avatarfinder Customer Care
      JoshuaOctober 1, 2018Staff

      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!


  7. Default Gravatar
    KathyJuly 30, 2018

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

    • Avatarfinder Customer Care
      JhezJuly 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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