Terms & Conditions

Please take a moment to read the Openpay Credit Contract as it explains the terms and conditions that govern your access to and use of Openpay Plans provided by us including your obligations and rights in respect of such plans.

Effective from 17 March 2021.

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Key Terms

  1. Your agreement with us
  2. Definitions
  3. Your Openpay Plan
  4. Your payment obligations
  5. Fees and interest
  6. Default & its consequences
  7. Refunds
  8. Relationship between Openpay and our merchants
  9. Special terms & conditions where a warranty has been purchased
  10. Special terms & conditions for financing of goods requiring installation at your residential property, or marketing costs associated with selling a residential property
  11. Dealing with our rights and obligations
  12. Notices
  13. Termination of your Openpay plan
  14. Indemnity
  15. Governing law
  16. Privacy statement and consent
  17. Varying these terms & conditions
  18. Customer complaints

Key terms

Openpay allows you to pay for a purchase in the instalments and frequency as is set out in your Openpay Plan.

  • To establish an Openpay Plan you must be 18 years or older and provide us with details of an eligible credit/debit card issued in your name.
  • We may conduct a pre-authorisation on your credit/debit card for a portion of the total amount to be repaid under the Openpay Plan before we agree to fund your purchase.
  • The amount of each Instalment will be charged to your credit/debit card on the date the Instalment is due. On occasion, charges may be processed the day after the due date. You may pay an Instalment before the due date or pay the outstanding balance of an Openpay Plan early without penalty.
  • You may be charged a Plan Creation Fee depending on your Openpay Plan. You may also be charged a Plan Management Fee on Instalments you repay. Details of these fees will be provided to you at the time you select, and will be set out in, your Openpay Plan.
  • If you fail to pay an Instalment under an Openpay Plan by the due date for payment, we will charge you a Late Payment Fee of $9.50 if the payment is still unpaid 2 days after the due date (see clause 5.2).
  • Fees payable under your Openpay Credit Contract (excluding Late Payment Fees) are capped (see clause 5.3).
  • If you fail to rectify an unpaid instalment payment within 14 days following the due date we may terminate this credit contract and require you to pay us all future instalments (even if they are not otherwise due) and all other amounts payable including any applicable fees. You can contact us if you are facing hardship and may not be able to make any payments on time.
  • You may make complaints about your Openpay Credit Contract using the channels set out in clause 18.
  • We reserve the right to conduct credit checks on new applicants and to reject applications for an Openpay Credit Contract or to establish Openpay Plans under an Openpay Credit Contract.

1. Your agreement with us.

  1. Your credit contract with Openpay Pty Ltd (ACN 159 699 126) of Level 9, 469 La Trobe Street, Melbourne VIC 3000 (Openpay, we, our, us) consists of:
    1. These terms and conditions; and
    2. Each Openpay Plan emailed or otherwise communicated to you in writing by us as a confirmation of each purchase financed under this credit contract, collectively referred to as the Openpay Credit Contract.
  2. You will be taken to have accepted the terms of your Openpay Credit Contract when you pay the First Instalment of your first Openpay Plan in accordance with clause 4.1.
  3. These terms and conditions are periodically updated from time to time. You will be taken to have accepted the updated terms and conditions:
    1. where we notify you of any such changes and you do not terminate your Openpay Credit Contract (see clause 17); and
    2. each time you pay the first instalment of an Openpay Plan in accordance with clause 4.1.
  4. By entering into this Openpay Credit Contract, you declare that:
    1. all information you have given in connection with it is accurate and not misleading and you are aware that we are relying on it. This includes the identification information provided by you to us to process your application;
    2. you enter this Openpay Credit Contract in your personal capacity (that is, as an individual) and not in any other capacity (eg, as a sole trader); and
    3. you do not enter this Openpay Credit Contract (or any Openpay Plan under it) on behalf of any third-party beneficiary.
  5. For the avoidance of doubt, this Openpay Credit Contract is an agreement for credit between you and Openpay. To the extent permitted by law, Openpay:
    1. makes no warranty as to the merchantability, suitability or otherwise; and
    2. expressly disclaims any liability, in respect of the goods or services you purchase in connection with an Openpay Plan under this Openpay Credit Contract. If you are in any way dissatisfied with any of the goods or services purchased under this Openpay Credit Contract, you should contact the Participating Merchant. However, you will still be obligated to repay all outstanding amounts under this Openpay Credit Contract.

2. Definitions.

In this Openpay Credit Contract capitalised words have the meaning given in the Openpay Plan or as follows:

Available Credit means, at any time, the difference between the Credit Limit and the Outstanding Balance at that time.

Credit Limit means the credit limit specified in your most recent Openpay Plan forming part of this credit contract.

Fee means any fee specified in clause 5.2 in relation to any Openpay Plan that forms a part of this Openpay Credit Contract.

Instalment means any instalment specified in any Openpay Plan that forms a part of this Openpay Credit Contract.

Nominated Card means the credit or debit card specified in the “Nominated Card” section of an Openpay Plan that forms a part of this Openpay Credit Contract including any card you later notify us in substitution for that card. This card must be issued in your name.

Openpay Checkout Process means the process undertaken by a Participating Merchant to arrange finance for the purchase of goods or services supplied by the Participating Merchant including by the use of the checkout function using the Openpay app or Openpay website and by a manual sales process.

Openpay Plan means the plan that outlines details of the credit provided by us and your repayment obligations in respect of a purchase from a Participating Merchant.

Outstanding Balance means, at any time, the aggregate of all amounts owing under all the Openpay Plans you have under this Openpay Credit Contract at that time.

Participating Merchant means a merchant that allows you to finance a purchase of goods or services under an Openpay Plan. A current list of Participating Merchants is available on the website at www.openpay.com.au/shop.

3. Your Openpay plan.

  1. Customer registration with Openpay

    To establish an Openpay Plan you must first register with us. To register you must be 18 years or older and provide the following personal information:

    1. Your name, residential address and date of birth;
    2. A valid email address and two contact phone numbers;
    3. Valid Australian Visa or MasterCard credit or debit card information e.g. card name and number;
    4. Valid Australian Passport information; and
    5. Valid Medicare information.
  2. To validate the above information, you may be asked to provide copies of, or otherwise evidence of:
    1. a valid Visa or MasterCard credit or debit card issued by an Australian financial institution in your name. We do not accept payment via any other debit or credit cards;
    2. a valid Australian Driver’s Licence;
    3. a valid Passport and/or a valid Medicare Card; and
    4. other valid government issued identification.

    You may register through our app or at the point of sale in-store or online at a Participating Merchant.

    Once you have registered successfully with us and wish to make a purchase from a Participating Merchant under an Openpay Credit Contract, you must provide your customer number to the sales assistant. You will be asked to select your Openpay Plan payment preferences for the purchase. Once you have selected your preferences and confirmed that you want to proceed with that Openpay Plan, you will receive an email to your nominated primary email account (or other form of written communication) confirming the details of your Openpay Plan.

  3. Credit checks

    We may conduct a credit check on you, which may include obtaining your credit report from a credit reporting body. Any information we collect about you will be handled in accordance with our privacy statement (see clause 16). We may also seek further information to verify your identity, which you must provide to us on request. We reserve the right to reject for any reason your application for an Openpay Credit Contract and/or an application for an Openpay Plan.