First Of Its Kind, Highly Differentiated Payment Solution Provides Consumers With Payment Options For Unexpected, Meaningful Purchases And Increases Revenue for Merchants
A New Better Version Of Buy Now Pay Later Officially Enters US Payments Market With No Gimmicks And Longer, Larger, Customized Installment Plans For Healthcare, Education, Auto Repair, Home Improvement, And Big Ticket Retail
Opy USA, Inc., and its parent company Openpay Pty Ltd, have officially entered the US payments market with the most flexible installment plans in the market as a differentiated Buy Now Pay Later (BNPL) product: ‘Buy now, Pay smarter.’
US demand for BNPL options continues to rise, with forecasted transactions expected to exceed $100 billion in 2021. Recent research from PYMNTS.com shows that 8 in 10 consumers would prefer to make high-value purchases using BNPL over personal loans or credit cards. With Opy, US consumers now have a better version of BNPL that offers customized payment plans with spending power for up to $20,000 with longer terms of up to 24 months, enabling consumers to budget better and pay smarter.
Opy partners with leading aggregators and key merchants to provide a meaningful difference in a consumer’s life. Opy provides consumers with a flat fee BNPL product with predictable payments designed for larger purchases and comes with longer terms, up to 24 months. Targeted industry verticals include healthcare, dental and veterinarian services, education, home improvement, auto repair and servicing, and big-ticket retail.
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“Through our longer, larger, customized installment plans in verticals we own, we are making a true difference. Our mission is to change the way people pay for the better,” explained Brian Shniderman, CEO of Opy and Global Chief Strategy Officer for Openpay. “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. 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.”
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