Openpay interest-free payments

Find out how Openpay's interest-free payment plans work to see if they will work for you.

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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. 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.

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, but these are capped.

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.

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)

Have more questions about Openpay?

How do I make payments?

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.

When do I make payments?

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.

What if I need to make a late payment?

If you are unable to make a payment on time, you should contact Openpay directly to discuss your options.

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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60 Responses

  1. Default Gravatar
    ShinaJuly 16, 2019

    Hi
    My husband and I are about to get our home renovated and we spoke with a flooring company who are working with Open Pay.
    Flooring renovation will cost us around $10000 and i am wondering if the credit limit is available in open pay and what will be the payment scheduled please.
    I couldn’t find this information on Open Pay website.

    Thanks. Shina

    • Avatarfinder Customer Care
      FayeJuly 17, 2019Staff

      Hi Shina,

      Thanks for contacting Finder.

      Openpay has a credit limit and the credit limit is disclosed to you after you have been approved. Credit Limit details can also be found directly at Openpay’s website. For the repayment schedule, 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.

      I hope this helps.

      Kind Regards,
      Faye

  2. Default Gravatar
    LeanneMay 21, 2019

    Hi how long do you get to pay it back thanks

    • Avatarfinder Customer Care
      NikkiMay 21, 2019Staff

      Hi Leanne,

      Thanks for your inquiry.

      The good thing about Openpay is that they let 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. 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. You won’t have to worry about missing payments since they send out reminders before your scheduled repayments. To add, you’re able to make early repayments at no extra cost.

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

      With care,
      Nikki

  3. Default Gravatar
    BevMay 14, 2019

    Hi there,

    Just wondering if they accept people on a carers benefit ?

    • Avatarfinder Customer Care
      NikkiMay 15, 2019Staff

      Hi Bev,

      Thanks for getting in touch with Finder! According to our page, the eligibility requirements of OpenPay are:

      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)

      As long as you have the means to make payments, that will suffice to use their service.

      To sign up:

      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.

      Hope this helps!

      With care,
      Nikki

  4. Default Gravatar
    DanielMay 11, 2019

    Hello! I was wondering why is there a credit limit when you still have to use your own money?

    • Avatarfinder Customer Care
      MaiMay 12, 2019Staff

      Hi Daniel,

      Thank you for reaching out.

      Openpay is a pay now pay later scheme. Openpay works like a credit card where you purchase items without having to pay outright. Credit limit set to make sure that users are able to commit to their repayments and just spend on what you can pay. Once the installment plan is set, Openpay will direct debit the payments on the chosen schedule.

      Hope this helps! 😊

      Kind Regards,
      Mai

  5. Default Gravatar
    WillApril 26, 2019

    How long till I get an email to confirm a payment? I’ve been waiting a bit.

    • Avatarfinder Customer Care
      JeniApril 27, 2019Staff

      Hi Will,

      Thank you for getting in touch with Finder.

      As per this page you’re looking at, after you register on the app, you’ll get an instant response regarding your application and once approved, you can use Openpay right away. Please contact Openpay directly via phone or email if you need further assistance on your application or payment.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  6. Default Gravatar
    SophieApril 18, 2019

    When I use Openpay In store , can I pay cash for the initial payment/ 20% deposit!?

    • Avatarfinder Customer Care
      NikkiApril 19, 2019Staff

      Hi Sophie,

      Thanks for getting in touch with Finder! According to the terms and conditions of OpenPay, the 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. If the total of your subsequent instalments exceeds the limit set by the Openpay Plan (“Credit Limit”) then you will be required to pay a larger first instalment at the time of purchase to ensure that Credit Limit is note exceeded.

      Hope this clarifies!

      Best,
      Nikki

  7. Default Gravatar
    ZarinaMarch 19, 2019

    What is the weekly fee you pay?

    • Avatarfinder Customer Care
      JoshuaMarch 20, 2019Staff

      Hi Zarina,

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

      Openpay allows you to purchase now and pay later, with no interest. The only fee you will be paying is your monthly repayment. Upon buying an item, you choose how you want to make the repayment.

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

      Have a wonderful day!

      Cheers,
      Joshua

  8. Default Gravatar
    TamieJanuary 11, 2019

    How much is the setup fee on the first payment?

    • Avatarfinder Customer Care
      JhezJanuary 15, 2019Staff

      Hi Tamie,

      Thank you for your comment.

      There’s no initial investment or setup fee to start using Openpay. Depending on the plan type selected and the participating merchant in which you are shopping at, there may be no fees at all. In some instances, a small plan management fee will be applicable to each repayment. This fee varies depending on the merchant in which the purchase is being made. In the case of higher value purchases, an establishment fee may apply.

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

      Regards,
      Jhezelyn

  9. Default Gravatar
    GemmaDecember 29, 2018

    Can I use my husband’s bank card details for my Openpay account? I mean can I use his credit card as I don’t have any bank account.

    • Avatarfinder Customer Care
      JeniDecember 29, 2018Staff

      Hi Gemma,

      Thank you for getting in touch with finder.

      If you are an additional cardholder on your husband’s credit card account or having a joint bank account with him, that would be fine.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  10. Default Gravatar
    MichelleDecember 22, 2018

    Do you have to make an initial payment every time you make a new purchase with open pay?

    • Avatarfinder Customer Care
      ValDecember 22, 2018Staff

      Hi Michelle,

      Thank you for leaving a question and for reaching finder –
      Yes, according to the terms and conditions the time you make a purchase which is, or is to be, financed under this credit contract, you must pay us an initial payment (“first installment”) inclusive of any Establishment Fee and a Plan Management Fee for the installment.

      Hope this helps. Would you have further questions please do not hesitate to contact us again.

      Cheers!
      Val

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