OpyPay successfully went live in the US – transacting today
Australian Stock Exchange-listed fintech Openpay announces the first live transactions with OpyPay in the US. Tailored to the US market with a US-localised solution, regulatory permission, marquee funding, and customized risk models, OpyPay is now live and transacting, with controlled distribution commencing in the healthcare sector (including veterinary).
Opy’s differentiated payments solution is the first of its kind in the US – a massive market with strong demand for flexible instalment plans to enable better budgeting, smarter payments, and increased merchant revenues. OpyPay provides consumers with a flat fee product with predictable payments designed for larger purchases over longer terms in healthcare, veterinary, dental, auto repair, education, home improvement, and big-ticket retail.
US consumer demand for instalments continues to rise meteorically, with transaction volumes expected to exceed US$100 billion in 2021. In the US, 111 million consumers would prefer to make high-value purchases using a BNPL service, rather than using personal loans or credit cards, according to a September PYMNTS.com and AWS study.
Effective immediately, ezyVet is distributing OpyPay to be available to its 1,200 US veterinary hospitals and clinics via its leading practice management platform. The US specialty veterinary market has high transaction values for procedures such as MRIs, CT scans, and reconstructive surgery. OpyPay is conducting a controlled roll-out with the first live OpyPay ezyVet locations in California, Michigan, Virginia, and Ohio.
Brian Shniderman, CEO of Opy & Global Chief Strategy Officer for Openpay said, “We’re thrilled to announce the successful US launch of OpyPay – a milestone for the Openpay Group and a clear affirmation of our US strategy. Our longer, larger, customized installment plans are built for life’s unexpected and important expenses, such as emergency dental surgery, sudden auto repair, and medical care for a beloved pet. In partnership with ezyVet, OpyPay will be made available to 1,200 US clinics as the rollout progresses – and we look forward to other partnerships to efficiently access our target verticals.”
Pete Brown, ezyVet Chief Growth Officer highlighted, “We’ve had enormous success working with Openpay in both Australia and the UK and are delighted to roll out in partnership with Opy here in the US. The veterinarians we partner with deeply care about their consumers and are ecstatic to offer alternative payment solutions to assist in providing care for their most loyal companions.”
Opy’s US launch will transform the profile of the Openpay Group over time; we look forward to providing regular market updates regarding substantial growth plans and partnerships.