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Openpay interest-free payments

Short on cash? With Openpay, you can buy what you need now and pay later without having to pay interest.

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 app.

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. Making in-store purchases is quick and easy. 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.
  • Advance repayments allowed. You’re able to make early repayments at no extra cost.
  • Payment reminders. Openpay sends out reminders before your scheduled repayments.

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.
  • Establishment fees. Establishment fees apply to higher purchases but only need to be paid by approved applicants.
  • Plan management fees. These may apply to some plans and will be applicable to every payment.
  • Late fees. Openpay may charge you a late payment fee if you fail to make repayments on time.

How do I sign up for Openpay?

Signing up for Openpay is quick and easy:

  1. Download the Openpay app from the App Store or Google Play Store.
  2. Fill out the electronic application within the app. This includes simple, basic identifying information.
  3. List the Visa or Mastercard (credit or debit) you want linked to your Openpay account and pay a small initial security deposit.
  4. Instantly receive an approval or rejection.

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)

Have more questions about Openpay?

How do refunds work?

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.

Is Openpay safe?

Openpay is PCI DSS Level 1 certified compliant meaning it uses the highest level of secure technology to help protect your information.

How does Openpay make money?

Openpay charges retailers to be listed on the platform and also makes money from fees charged to customers.

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26 Responses

  1. Default Gravatar
    raajanApril 12, 2018

    what’s the vulnerabilities of openpay?

    • Staff
      NikkiApril 12, 2018Staff

      Hi Raajan,

      Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?

      To see the pros and cons of each payment platform, you may check these pages. Zippay vs. Openpay, Afterpay vs. Openpay, Openpay vs. Zipmoney.

      Hope this helps! Feel free to message us anytime should you have further questions.

      Cheers,
      Nikki

  2. Default Gravatar
    OpenMarch 28, 2018

    Do I have to leave a deposit on my first purchases?

    • Staff
      JhezelynMarch 29, 2018Staff

      Hello there,

      Thank you for your comment.

      Upon checking, you’re required to pay a small initial security deposit. This is explained further in the Openpay’s Terms and Conditions clause number 2. It states that at the time you make a purchase, you must pay an initial payment (“first instalment”) inclusive of any Establishment Fee and a Plan Management Fee for the instalment. This 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.

      Regards,
      Jhezelyn

  3. Default Gravatar
    craigMarch 15, 2018

    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?

    • Staff
      NikkiMarch 19, 2018Staff

      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

  4. Default Gravatar
    JazmineMarch 9, 2018

    Can you use it at 2 different stores or just the one?

    • Staff
      JhezelynMarch 10, 2018Staff

      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

  5. Default Gravatar
    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

    • Staff
      RenchMarch 13, 2018Staff

      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

  6. Default Gravatar
    February 8, 2018

    What is the referral fee that is mentioned in my statement now when I first purchased my goods

    • Staff
      MayMarch 1, 2018Staff

      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

  7. Default Gravatar
    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?

    • Staff
      JonathanFebruary 26, 2018Staff

      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

  8. Default Gravatar
    MarleyJanuary 6, 2018

    What are the several payment options roughly? Do I have to have money in my account when I first purchase something ?

    • Staff
      ArnoldJanuary 6, 2018Staff

      Hi Marley,

      Thanks for your inquiry

      You may make the installments in the following ways:
      1. By your Nominated Card;
      2. In cash in person at our office at Level 40, 120 Collins St, Melbourne, VIC 3000 between 9am to 5pm Monday to Friday; and
      3. By cheque or money order sent by post to GPO BOX 5262, Melbourne VIC 3001 quoting your Openpay Plan Number.

      Unless you inform openpay that you wish to make a particular installment by cash, cheque or money order, you direct and authorize them to charge the amount of any installments to your Nominated Card when the installment is due.

      At the time you make a purchase which is, or is to be, financed under this credit contract, you must pay them an initial payment (“first installment”) inclusive of any Establishment Fee and a Plan Management Fee for the installment. This first installment 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.

      Hope this information helps

      Cheers,
      Arnold

  9. Default Gravatar
    JoshuaDecember 23, 2017

    Do I need funds in my account straight away for fist time purchase using openpay?

    • Staff
      ArnoldDecember 28, 2017Staff

      Hi Joshua,

      Thanks for your inquiry

      Your credit or debit card must be adequately funded at the time of purchase because you’ll be charged with the first installment.

      Hope this information helps

      Cheers,
      Arnold

  10. Default Gravatar
    MaliliNovember 9, 2017

    I had initially created an Openpay account 4 weeks ago and was given a customer ID number. I didn’t end up going through with it. Now I have a different item I want to purchase when I log in to Openpay account app it gives me a different ID # and says to provide customer ID to the Sales assistant at the desk. Was I meant to pay anything or set up installment arrangements or is this the second step after approaching sales assistant?

    • Default Gravatar
      JonathanNovember 10, 2017

      Hi Malili,

      Thank you for your inquiry.

      At the time you make a purchase, you must pay them an initial payment (“first installment”) inclusive of any Establishment Fee and a Plan Management Fee for the installment. This first installment 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.

      Hope this helps.

      Cheers,
      Jonathan

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