Oxipay is a service that offers interest-free payments on items that you want to buy now and pay off over time. As long as you shop with its approved vendor list, which includes in-store and online, you have a variety of options of what you can buy.
Oxipay has been replaced by Humm.
How does Oxipay work?
Oxipay is a way of paying for goods online. You shop with its approved vendors, start an account with Oxipay and then pay for your purchases in four instalments. The payments come out of your account fortnightly so you have two months to pay off your purchases.
Once you’ve opened an account with Oxipay and have been approved, you can shop with its vendors in store and online and find what you want with ease. After you make an Oxipay account, you just need to checkout with Oxipay and it will spread the cost of your purchase over the four fortnightly instalments. These will come out of your nominated bank account.
It’s important that, when checking out online, you select the option to pay the same day with Oxipay. If you decide to use your Oxipay in-store with one of its vendors, just mention at the checkout that you are using Oxipay for this transaction so that the cost of the item purchased will be spread out over the instalments.
Features of shopping with Oxipay
- Interest-free payments. Oxipay offers interest-free payments across four fortnightly instalments, giving you a way to spread the cost of a purchase over an extended period without paying the interest that tends to come with other purchase methods, such as a credit card.
- Fortnightly instalments. Oxipay schedules your payments fortnightly allowing you to budget.
- Signup is fast. Signing up for Oxipay only takes a minute online.
- Access to a variety of online and in-store vendors. Oxipay has partnerships with a range of brands online and in store.
- No monthly or transaction fees. Oxipay won't charge you account-keeping fees but you may be charged late fees if you fail to make your repayments on time.
- You can make additional repayments. If you want to pay off your purchase quicker, Oxipay allows users to make additional repayments at no extra cost.
- Access the Oxipay portal to see how much you owe. Forgotten how many purchases you’ve made with Oxipay and wondering how much is left to pay off? Oxipay offers an online portal so you can see how much is left on the amount you owe. Through this portal, you can also make additional repayments which will help you pay off your purchases faster.
- Credit details are secure. Oxipay has been approved by Visa and Mastercard and has invested in the latest credit card technologies in order to keep your details safe.
How much will this cost?
Oxipay offers no monthly or transaction fees with its accounts. There is also no interest charged on an Oxipay account, no annual fee and no account management fee. The payments that are deducted out of your nominated bank account are interest-free.
However, there is a late payment fee of $15 if Oxipay tries to deduct repayments from your account and it’s not available. There is an additional collection fee of $30 if Oxipay has to take steps to initiate collections.
How to sign up with Oxipay
Signing up with Oxipay will take less than a minute. All you need is:
- To be over 18 years of age
- To reside in Australia
- To be capable of entering a legally binding agreement
- Have a valid email address
- Have a valid phone number
- Have an Australian credit card
Once you’re sure you meet all of the criteria you can sign up online. It’s important you have a valid email address and phone number as these are what get you into Oxipay’s online portal. This is where you see how much you owe on your remaining purchases.
The buy now pay later sector is currently under an ASIC review. Find out more about this review.