OpenPay
OpenPay is a Buy Now, Pay Later (BNPL) service that provides scheduled interest-free instalments for higher-value purchases. Unlike some competitors, OpenPay allows flexible payment plans that extend up to 24 months. This makes it attractive for healthcare, automotive, and specialty retail.
The app is simple to use, and many customers say OpenPay is great when repayments can match their budgets. Some users even highlight a really smooth experience when they used Open Pay at the time of purchase. At the same time, others feel completely misled by unclear terms or far more costly late fees that can be translated into usury if not managed carefully.
OpenPay is available in Australia and the UK, with limited pilots in the US. On australia's largest opinion site ProductReview.com.au, OpenPay holds around 4.4 out of 5 stars, showing that a large number of people are happy with OpenPay, even though there are also complaints where customers have given one star or written “1 star” in frustration.
| Characteristic | Details |
|---|---|
| Regions | Australia, UK (limited), US (pilot projects) |
| Getting started | Online application |
| Commission per transaction | ~2.9% + fixed fee |
| Payment methods accepted | Debit/Credit cards |
| Fraud & Risk management | Built-in, proprietary system |
| Accepted Currencies | AUD, GBP |
| Set up type | Merchant integration via API/SDK |
| Onboarding & Approvals time | 1–2 weeks |
| Recurring Billing | Supported |
| Charges on Refunds | Merchant pays transaction fee, refund processed |
| SDK Stacks | iOS, Android, Web |
| Settlement time | T+2 |
| Payouts support | Bank transfer |
| Split payments | Yes |
| RegionsAustralia, UK (limited), US (pilot projects) | |
| Getting startedOnline application | |
| Commission per transaction~2.9% + fixed fee | |
| Payment methods acceptedDebit/Credit cards | |
| Fraud & Risk managementBuilt-in, proprietary system | |
| Accepted CurrenciesAUD, GBP | |
| Set up typeMerchant integration via API/SDK | |
| Onboarding & Approvals time1–2 weeks | |
| Recurring BillingSupported | |
| Charges on RefundsMerchant pays transaction fee, refund processed | |
| SDK StacksiOS, Android, Web | |
| Settlement timeT+2 | |
| Payouts supportBank transfer | |
| Split paymentsYes |
Pros
- Flexible installment plans up to 24 months
- No setup or annual fees
- Wide adoption in healthcare and retail sectors
- API/SDK integration available
Cons
- Limited international coverage
- Higher commission vs. traditional gateways
- Past financial stability issues
- Limited currency support
Benefits of OpenPay Payment Schedules for Businesses and Clients
OpenPay reviews often highlight benefits for higher-ticket purchases. Customers can choose payments to suit their situation without paying interest if they stay on schedule. The ability to extend terms makes it easier for clients who made a purchase in healthcare or auto repair to avoid financial stress.
For businesses, offering OpenPay can boost conversion and retention. Merchants get paid at the time of purchase while OpenPay takes on collection risk. However, costs may be far more costly than traditional gateways, since commissions and paper handling fee structures can add up.
How to Use OpenPay for Flexible Instalment Plans
Merchants integrate OpenPay via web SDK or direct API, enabling checkout with installment options. Customers apply for an account, get approved within minutes, and then select OpenPay at checkout. The business is paid upfront, and the platform takes care of installment collection. Integration is relatively straightforward, making it suitable even for small to medium businesses.
Are Customers Happy With OpenPay? Reviews and Feedback
User feedback is mixed. On Trustpilot, OpenPay has a score of around 3.7/5, with many praising its flexibility, but others criticizing hidden fees and technical issues. On G2, reviews highlight ease of use for customers, but note challenges for businesses in handling refunds. Analysts point out that while OpenPay is reliable for niche sectors, its lack of global scale limits competitiveness.
Safety
OpenPay has faced security and financial issues in the past. In 2023, the company suspended its UK operations due to liquidity challenges. There have also been customer complaints about unauthorized charges and slow refunds, though no major data breaches have been publicly reported. To mitigate risks, OpenPay invested in stronger fraud monitoring and compliance checks, implementing updated PCI DSS standards and two-factor authentication. These measures improved transaction safety, though some reputation damage remains.
Account Fees
Customers generally avoid interest charges if they pay on time, but late fees apply. Merchants pay transaction commissions (around 2.9% plus fixed fee), which can be higher compared to standard gateways but are balanced by increased order value.
For Business
OpenPay helps businesses boost customer loyalty and conversion rates by offering financing at checkout. Healthcare and automotive providers particularly benefit, since customers often face large, unplanned expenses. The platform reduces payment risk by guaranteeing upfront settlement.
Which Type of Business
It suits mid-sized and enterprise-level businesses in sectors with higher transaction values: medical clinics, dental practices, auto repair shops, and specialty retail. Small e-commerce shops may find costs higher than traditional card gateways but benefit if their audience demands BNPL.
For Physical Clients
In-store clients can also use OpenPay through point-of-sale integration. This allows retail and healthcare providers to offer installment plans directly at checkout terminals. The process mirrors online transactions, giving customers the same flexibility while merchants retain instant payout security.
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FAQ
Is OpenPay safe to use for customers?
Yes, OpenPay applies PCI DSS standards, encryption, and fraud monitoring. While there were operational issues in 2023, no major data breaches have been confirmed. Customers are encouraged to use linked debit/credit cards with fraud protection for additional security.
How does OpenPay compare with Afterpay or Klarna?
Unlike Afterpay, which focuses on short-term installments, OpenPay offers longer plans (up to 24 months) and higher spending limits. This makes it better suited for larger purchases, but its global reach is more limited compared to Klarna.
Does OpenPay charge interest on purchases?
No, OpenPay provides interest-free plans if payments are made on schedule. Late fees apply if a customer misses a repayment. Merchants cover transaction fees, while customers only risk penalties if they default.
How quickly do businesses get paid?
Merchants receive settlement typically within two business days (T+2). OpenPay assumes the repayment risk, which is one of its key advantages for businesses compared to offering in-house financing.
Can OpenPay be integrated with online stores easily?
Yes, OpenPay provides SDKs for web, iOS, and Android along with API support. Most e-commerce platforms can integrate it within a couple of weeks, depending on approval speed and business requirements.
