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Opy Brings BNPL Platform to US

Opy USA, Inc. has launched “Buy now, Pay smarter” in the U.S. as its version of the buy now, pay later (BNPL) initiative that is growing across the country and around the world.

Recent PYMNTS research shows that four out of five consumers would rather use BNPL than take out loans or use their credit cards for big-ticket items.

Buy now, Pay smarter gives users up to 24 months to pay for their purchases of up to $20,000 with a flat fee built into the payments, Opy USA and its parent company, Openpay Pty Ltd. said in a Thursday (Oct. 28) press release.

The initiative is targeted at healthcare, dental and veterinarian services, education, home improvement, auto repair and servicing and big-ticket retail purchases.

“Through our longer, larger, customized installment plans in verticals we own, we are making a true difference,” Brian Shniderman, CEO of Opy and global chief strategy officer for Openpay, said in the company announcement. “Our mission is to change the way people pay for the better.

“Opy delivers new and improved ways for consumers to make purchases, especially when faced with unexpected expenses, such as emergency dental surgery, a sudden auto repair, or medical care for a beloved pet,” he said. “Our flat fee is as little as one-third the cost of traditional consumer loans for the same purchases and provides marketplace expansion for merchants who accept Opy.”

Related: Opy USA, Everyware to Offer BNPL by Text

Earlier this month, Opy USA, Inc. and contactless payments firm Everyware debuted a Pay by Text BNPL solution on the Openpay portal.

Opy will embed its BNPL service into the Everyware platform to deliver text message payment options to consumers.

Everyware is also working with Visa’s Cybersource and to offer contactless payment processing and communications for small and medium-sized businesses (SMBs).

Recent PYMNTS research shows that the share of consumers shopping using digital devices jumped from 27% in March 2020 to 42% in November 2020.

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