News
29th September 2021

Openpay expands it’s B2B and B2C solutions

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Openpay signs online retailer, Kogan.com extending the enterprise partnership to OpyPro (B2B), and enhances leadership position in Automotive, signing Nissan (B2C)

  • Openpay extends existing BNPL partnership (B2C) with Kogan.com to now offer OpyPro (B2B) -the deal sees Openpay deliver to a single merchant partner both B2B and B2C solutions
  • Kogan.com will offer OpyPro to their business customers who transact on terms, with Lumi providing credit
  • This deal delivers on the OpyPro strategy to remain capital light
  • The OpyPro platform is now servicing over 7,000 business customers, with expected growth of a further 6,000 business customers over the next year
  • Openpay continues to enhance Auto vertical with Nissan Australia partnership

MELBOURNE Australia, 23 September 2021: ‘Buy now. Pay smarter.’ company, Openpay Group Ltd (ASX: OPY) (Openpay) is pleased to announce that it has signed an agreement to deliver its OpyPro business to business (B2B) platform to on-line retailer, Kogan.com and continues to enhance its leadership position in Automotive with new agreement with Nissan.

Openpay signs on-line retailer, Kogan.com as new enterprise partner for OpyPro (B2B)

Openpay leveraged its existing relationship with Kogan.com in the business to customer (B2C) space to secure a new OpyPro (B2B) enterprise contract win.  OpyPro will integrate with Kogan.com’s ecommerce systems to deliver an enhanced and simplified buying and transaction experience for business customers.  In addition, OpyPro’s funding partner Lumi will provide credit to Kogan.com’s business customers.

Openpay’s OpyPro SaaS solution helps empower businesses to self-serve through dedicated buyer and supplier portals, reducing administration cost and time and to purchase goods and services.  The OpyPro solutions allows businesses to maintain compliance with account and receivables management rules, with 24/7 real-time access to account features for greater accuracy and control of business spend.  

Openpay’s CEO and Managing Director, Michael Eidel commented, “We are thrilled to have added Kogan.com to our growing list of B2B customers.  This deal demonstrates strong demand from businesses for an easier and more efficient payment experience.  Credit term funding for business buyers in Australia will be provided by OpyPro’s funding partner, Lumi, enabling OpyPro to operate as a capital-light, SaaS-based product.”

Kogan.com’s Director of Strategy, Ross Metherell said, “We have a longstanding relationship with Openpay in BNPL for B2C and we are pleased to be expanding our relationship with Openpay to OpyPro for B2B. We look forward to using OpyPro platform as part of our offering to our business customers.”  

OpyPro is Openpay’s platform for the global B2B market, built as modern, merchant-led software that large companies can use to manage their trade accounts end-to-end in a fully digitised manner – from application to transaction and remittance. 

This announcement follows B2B partnerships with Woolworths, HP and Kyriba and provides Openpay the unique opportunity to become a provider of choice in the multi-trillion dollar Australian and international markets for B2B payments.

Openpay enhances leadership position in Automotive sector with agreement with Nissan

Openpay has secured a key agreement with Nissan Australia, which includes marketing campaigns to drive new customer growth and targeted communication to Nissan Australia’s existing customer base.  Nissan Australia will work with its dealership network to increase the availability and use of Openpay’s consumer payment offerings among its 188 network dealerships.

Openpay’s ANZ CEO, Dion Appel said, “We are excited to have signed with Nissan as a new customer in the Automotive vertical, further enhancing our leadership position. Through this partnership, we can help give Nissan’s customers greater payment flexibility and options for the automotive servicing needs.”

Nissan Australia Director of Aftersales, Michael Hill said: “We are delighted to partner with Openpay, a leader in the Automotive space.  They offer our customers new payment options, which will also assist with customer retention and satisfaction.”

Openpay continues to deliver on its strategy to become a leader in its chosen verticals, primed for longer, larger and customised payment plans with healthy revenue yield.  This announcement follows recently announced agreements with Ford Australia, Pentana Solutions, Dunlop Super Dealers, DC Motor Group, Norris Motor Group, Thomson Motor Group, Janrule Group and Goodyear Autocare.  Openpay will continue to focus on further partnerships with leading OEMs, distributors, and importers in the automotive sector to further entrench itself as a market leading Buy Now, Pay Smarter provider in the Automotive vertical.

For further information, please contact:

Investors

Aline van Deventer
Head of Investor Relations
Mobile: +61 423 55 34 34
Email: alined@openpay.com.au

Ed Bunting
Company Secretary
Mobile: +61 401 555 333
Email: investors@openpay.com.au

Media

Australia:
Keep Left
openpay@keepleft.com.au

About Openpay

Openpay Group Ltd (ASX: OPY) is a fast-growing and highly differentiated player in the global ‘Buy now pay later’ (BNPL) payment solutions market. The Company’s strong platform enables it to deliver the most flexible plans in the market with durations of 2–24 months and values of up to $20,000.

Openpay focuses on industries where it can make a true difference: Automotive, Healthcare, Home Improvement, Memberships and Education; and its target customers are finance-savvy and of an older demographic who use Openpay plans as a cashflow management tool.

Openpay also has a unique B2B offering, OpyPro (formerly Openpay for Business), a SaaS-based platform that allows companies to manage trade accounts end-to-end, including applications, credit checks, approvals and account management in the one system.

Openpay provides services to Customers and Merchants in Australia, New Zealand, the UK and entered the US market, under the brand name Opy, in December 2020.

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