Australian Buy now, pay later (BNPL) provider Openpay Group Ltd commenced the launch of its operations in the US market.
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Openpay is an ASX-listed, fast-growing, and highly differentiated player in global BNPL payment solutions. It delivers the most flexible plans in the market, focuses on industries where it can make a real 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.
The Company also has a unique B2B offering, Openpay for Business, a SaaS-based platform that allows companies to manage trade accounts end-to-end.
The US launch adds to Openpay’s global reach, with the Company already offering its services in Australia, New Zealand, and the UK. In the US, it will offer both its differentiated ‘Buy now. Pay smarter.’ and B2B SaaS products. Its focus will be on similar industries to Australia and the UK, including Retail to scale quickly and verticals such as Automotive and Healthcare, where Openpay is a leading BNPL provider in Australia with its flexible longer-term, and higher-value plans.
The Company has already built a strong US pipeline, with partnership discussions with foundational partners in banking, merchant, and large payment processor sectors at advanced stages.
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To support the impending launch, Openpay is pleased to announce the appointment of its US executive team, led by Brian Shniderman, a 32-year veteran in the payments and fintech advisory industry. Mr Shniderman will become Openpay US’ CEO and Openpay’s Global Chief Strategy Officer. He joins from Deloitte, where he founded and grew the firm’s globally top-ranked Payments practice. He successfully helped the C-suite of large global companies implement high-visibility, complex payments, fintech and banking strategies, mergers and acquisitions, operations, and technology initiatives. These include large credit card issuers, merchant acquirers, networks, payments processors, corporates, governments, and merchants. Prior to Deloitte, Mr. Shniderman was an executive at several advisory firms, focusing on fintech and payments. In 2001, he was recognised as an innovator of the year by Fortune for introducing approaches for B2B equity-based payments, continuing to innovate and launch new fintech products since then.
CEO and Managing Director of Openpay, Michael Eidel commented, “This is possibly the most significant announcement for Openpay since we listed on the ASX on this day, last year. We are very excited to have commenced the launch of our consumer BNPL and B2B offerings into the US, building on our proven responsible approach, flexible products and focus on industries where we have strong confidence in our ability to deliver a differentiated value proposition. We’re entering the market with a team of highly respected US industry leaders who see great potential to bring our unique approach in BNPL and B2B to the US market.”
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