ASX Announcement
17th February 2021

Openpay launches partnership with leading Australian retailer, Officeworks.

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Key highlights:

  • New partnership goes live with leading retailer Officeworks, with Openpay plans to be rolled out across Officeworks online and in-store Australia-wide in February and March, respectively
  • Partnership underlines Openpay’s mission to provide customers with a smart budgeting tool for life’s important purchases
  • Further delivers on strategy of building Openpay’s portfolio of high-growth Merchant businesses at scale

MELBOURNE Australia, 17 February 2021: ‘Buy now. Pay smarter.’ company, Openpay Group Ltd (ASX: OPY) (Openpay or the Company) is pleased to announce that it has launched a partnership with leading Australian office supplies, furniture, technology and student supplies retailer Officeworks.

Under the partnership, Openpay’s ‘Buy now. Pay smarter.’ plans will be rolled out across Officeworks online and in-store Australia-wide in February and March, respectively.

The deal underlines Openpay’s mission to provide customers with a smart budgeting tool for life’s important purchases, such as school supplies, office needs and technology, above and beyond already providing its customers with a smarter way to pay for their health, automotive, home improvement, education and memberships needs.

The Officeworks partnership adds to Openpay’s robust portfolio of Merchant agreements with major Australian brands recently signed and live including: ASX-listed online retail giant, Kogan.com (ASX: KGN), Surfstitch Group, Dick Smith and furniture and homewares group, Matt Blatt.

Michael Eidel, Managing Director and CEO of Openpay, said: “We are delighted to have launched this agreement with Officeworks. By partnering, we can provide a great budgeting tool to help families get their school and work needs sorted, while supporting Officeworks to ‘help make bigger things happen’ for their customers. This approach fits nicely with the higher-value, longer-term plans that we can offer to customers and responds to the growing trend for interest-free instalment payments.”

Officeworks Managing Director Sarah Hunter commented: “We are excited to be partnering with Openpay. The flexibility of its BNPL solution will provide our customers with more time to pay for all their computing, technology, furniture and stationery needs to help them make bigger things happen.”

Openpay looks forward to updating the market further as it continues to deliver on its strategic growth plans.

For further information, please contact:

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

Media
Jane Lowe
IR Department
Mobile: +61 411 117 774
Email: jane.lowe@irdepartment.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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