SAN DIEGO and NEW YORK, Dec. 1, 2021 /PRNewswire/ -- (Opy), a diversified global fintech company and its parent company Openpay Pty Ltd (ASX: OPY) (Openpay), today announced a Card acceptance agreement with American Express (NYSE: AXP). The agreement allows Card Members to use their American Express Cards to make installment payments with participating Healthcare and Auto Repair & Maintenance merchants via Opy's 2.0 version of BNPL, a Buy Now, Pay Smarter (BNPS) solution. In addition, American Express will help support merchants in these industries who are interested in offering BNPS by introducing them to Opy's team.
Opy's BNPS offering is differentiated from traditional pay-in-four BNPL plans through its industry-leading, fair, transparent, and fixed fee BNPS payment solution that extends up to $20,000 with plan lengths of up to 24 months. Opy's products are readily available in the US and are customized for a wide variety of important larger purchases connected to key life decisions over longer terms.
Brian Shniderman, Opy USA CEO and Openpay Global Chief Strategy Officer remarked, "We're thrilled to be partnering with American Express, a company that helps their merchants and consumers make sound, savvy decisions. We are excited to offer our innovative products to American Express merchants and Card Members alike, particularly for larger, more meaningful life purchases."
"We are constantly striving to drive additional value to our Card Members and merchants," said Colleen Taylor, American Express President of Merchant Services – US. "With Opy, we are pleased to offer another payment option for customers who make and accept larger healthcare, auto repair and maintenance purchases."
American Express and Opy will also explore opportunities to collaborate on product development initiatives that would leverage Opy's B2C BNPS and B2B trade account management platforms. This collaboration will seek to deliver a balanced merchant and customer-friendly offering.
About Openpay Openpay Group Ltd (ASX: OPY) is a global, fast-growing, and highly differentiated provider of 'Buy now pay smarter' (BNPS) payment solutions. Through its platform, Openpay delivers the most flexible BNPS plans in the market, with longer terms - up to 24 months, and with higher limits - of up to $20,000. Openpay brings fairness, transparency, and flexibility to merchants and consumers alike, and focuses on industries where it can truly make a difference: Automotive, Healthcare, Home Improvement, Memberships, and Education. The company focuses on providing a greater range of payment solutions and has created a powerful next generation BNPS solution for those who need it the most, the responsible adult consumer looking to Buy Now, Pay Smarter. Openpay's B2B offering, OpyPro, is a SaaS-based platform that enables companies to manage trade accounts end-to-end, including applications, credit checks, approvals, and account management all in one system. Openpay provides services to, payment processors, merchants, and their customers in Australia, New Zealand, United Kingdom, and in the United States, where it operates under the brand name Opy. The company was recent ranked number 318 on the Deloitte Technology Fast 500™ Asia Pacific 2020 and is ranked 41 on the Deloitte Technology Fast 50 Australia. For more information, visit www.opy.com.