What is Buy Now Pay Later (BNPL)?

Get what you need today, with no interest tomorrow.

How does BNPL work?

Buy Now Pay Later (BNPL) is an easy form of payment that allows you to pay for what you want and what you need without the interest.

You can take home the goods or get the service today, then spread the cost of your purchases over time.

Openpay offers longer plan lengths to make larger purchases more manageable, with no hidden fees and no interest.

Whatever type of Openpay plan you choose, it will always be interest-free.

Can BNPL affect your credit score?

BNPL is a non-interest bearing product. Unlike most credit cards, Openpay never charges you interest.

Applying for a BNPL plan won’t always impact your credit score, but in some cases it might. When you first apply to take out an Openpay plan, your credit score won’t be impacted. However, if you apply to increase your spend limit, this may be recorded on your credit file and have an impact on your credit score.

If you default on a BNPL payment, it’s possible that the default will be reported to a credit reporting agency which may have an impact on your score. We recommend checking the BNPL provider’s terms and conditions.

How does BNPL work for merchants?

Get paid upfront, in full.

With Openpay, merchants get paid the next business day (minus fees), with fee refunds on returns.

Increase conversion and ATV.

Customers are more likely to convert when purchasing a product is broken down into more affordable instalments.

Give customers a smarter way to pay.

Take the fear out of big buys by letting customers spread the costs over time, interest free.

Quick questions

What do I need to use Openpay? How do I sign up?
Signing up is easy – you can sign up online or download our app. To get started, you’ll need to:
  • Be 18 years or older
  • Provide a valid email address and mobile number
  • Provide a valid Australian payment card (both credit and debit cards are acceptable)
  • Provide a valid Australian ID (or New Zealand ID if a resident there)
Buy Now Pay Later (BNPL) is an easy form of payment that allows you to pay for what you want and what you need without the interest. BNPL is accepted at a wide range of stores and service providers, in-store and online, all over Australia. Find out more about BNPL.
Buy Now Pay Later (BNPL) is an easy form of payment that allows you to pay for what you want and what you need without the interest. With Openpay, you can take home the goods or get the service today, then spread the cost of your purchases over time on a plan that suits you.   Openpay offers longer plan lengths to make larger purchases more manageable, with no hidden fees and no interest. Whatever the type of Openpay plan you choose, it will always be interest-free. Find out more about how Openpay works.
If you miss a payment, you may be charged a late fee. Full details will be in your plan welcome email. Some plans may also include a management fee. You’ll be told upfront if this applies to your plan. Find out more about our fee structure.

Yes, protecting your information is very important to us. We’re proud to be a Level 1 Payment Card Industry Data Security Standard (PCI DSS) Compliant Provider, which is the highest and most stringent level of compliance pertaining to card data protection 

All sensitive information is encrypted, and we maintain stringent physical, electronic and procedural safeguards to protect it. Find out more about how we store your personal information in our privacy policy.

We take great care to keep our systems secure. We encourage security researchers to responsibly identify and disclose any vulnerabilities to us as soon as possible via itsecurity@openpay.com.au Find out more about our vulnerability disclosure policy.

Keep track in the app

Easily manage your plans and track your upcoming payments with the Openpay app.

Scan the QR code with your phone
to get the app.

“The best buy now pay later service available. The custom plans make it so flexible and convenient.”

Jimi

Need a helping hand?

Purchases. Payments. Plans. Whatever you’ve got a question about, we’re here to help. Check out our Help Centre for handy articles or to get in touch with our Customer Service Team.