Openpay

Buy Now Pay Later (BNPL)openpay.com.au

Openpay was an Australian BNPL fintech (ASX:OPY) offering installment payment solutions to consumers across ANZ, the US (via Opy USA), and the UK automotive vertical (via Payment Assist), acquired by Airwallex in September 2025.

Company typePublic
Founded2013
HeadquartersMelbourne, Australia
Headcount51–100
GTM typeB2B
OfferingServices

What Openpay does

Openpay was an Australian Buy Now Pay Later (BNPL) fintech company founded in 2013 and listed on the Australian Securities Exchange (ASX:OPY) until its acquisition by Airwallex Limited in September 2025. The company provided installment payment solutions to consumers through merchant partnerships, generating revenue primarily via transaction fees on BNPL purchases. Its product portfolio spanned general retail BNPL in Australia and New Zealand, US-focused BNPL offerings through the wholly-owned subsidiary Opy USA, Inc., and UK automotive financing through the acquired Payment Assist business. Distribution operated via a B2B2C model — Openpay integrated its platform with merchants and reached consumers at point of sale rather than through direct consumer marketing.

The company's core technology was a BNPL platform paired with a US$271.4 million receivables warehouse facility (provided by Goldman Sachs and Atalaya Capital Management) that funded US receivables growth. Pricing was not publicly disclosed. Go-to-market combined direct-to-consumer demand generation with sales-led merchant acquisition, particularly in the UK automotive vertical. Operating geographies covered Australia, New Zealand, the United States, and the United Kingdom. The business was acquired by Airwallex Limited to integrate BNPL, billing, subscription management, payment orchestration, and revenue analytics into Airwallex's broader financial infrastructure platform.

Openpay firmographics

Firmographics

Name: Openpay
Legal name: Openpay Group Ltd
Website: https://openpay.com.au
Company type: Public
Founded year: 2013
Operating status: Acquired
Headcount range: 51–100 employees
Short description: Openpay was an Australian BNPL fintech (ASX:OPY) offering installment payment solutions to consumers across ANZ, the US (via Opy USA), and the UK automotive vertical (via Payment Assist), acquired by Airwallex in September 2025.
Ownership category
akta.pro rank

Openpay industry classification

Industry

Product category: Buy Now Pay Later (BNPL)
NAICS: Sales Financing (52222), Sales Financing (522220)
SIC: Personal Credit Institutions (6141), Finance Services (6199)
akta.pro primary industry: Recurring Payments & Variable Recurring Payments (VRP) Enablement (FSAGACAJ)

Keywords

Buy now pay later
BNPL platform
Installment financing
Merchant payments
Consumer credit services

Where Openpay is headquartered

Location

Headquarters

HQ city: Melbourne
HQ country: Australia
HQ region: Oceania

Offices3 records

Markets served

Openpay business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain

Revenue model

BNPL Transaction Fees: Openpay generates revenue through Buy Now Pay Later transaction fees charged to merchants and consumers for installment payment services
Consumer Financing: Revenue generated from providing affordable financing to US consumers through the BNPL platform, supported by the Goldman Sachs and Atalaya Capital warehouse facility

Go-to-market motion2 records

Distribution channels2 records

Openpay product offering

Product offering

Core offering

Openpay is a Buy Now Pay Later (BNPL) fintech that provides installment payment solutions allowing consumers to pay for purchases over time at point of sale. The company operates across Australia, New Zealand, the United States (via Opy USA, Inc.), and the United Kingdom (via Payment Assist), serving both merchants needing sales conversion tools and consumers seeking flexible financing options for retail and automotive purchases.

Product overview

Openpay is a Buy Now Pay Later (BNPL) fintech company that operates across Australia, New Zealand, UK, and US markets. The company offers flexible payment solutions allowing consumers to pay for purchases over time. Openpay's portfolio includes its core Australian/New Zealand operations, the US subsidiary Opy USA, and the acquired UK automotive-focused Payment Assist brand. The company raised capital through placements and warehouse facilities to support merchant acquisition, customer growth, and platform enhancements.

Differentiator

Problem solved

Functional benefit

Products and services

Openpay BNPL Platform (ANZ) Core Buy Now Pay Later installment payment platform offering flexible payment plans to ANZ consumers at the point of sale, integrated with Australian and New Zealand merchants across retail verticals.
Opy USA BNPL US-focused Buy Now Pay Later product for US consumers, operated through Openpay's wholly-owned subsidiary Opy USA, Inc., offering affordable installment financing at point of sale.
Payment Assist (UK Automotive BNPL) UK automotive-focused Buy Now Pay Later financing service for vehicle purchases, operated through the acquired Payment Assist business, providing installment payment options to UK consumers and automotive dealers.

Quantifiable outcome

Support for US BNPL market expansion through substantial funding facility

Companies that use Openpay

Customer profile

Segments3 records

Ideal customer profiles3 records

Openpay technology and API

Technology

Technology focussed Yes

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature1 record

Openpay partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

Airwallex LimitedflagshipStrategic or Co-development Partner · 1 September 2025Airwallex Limited acquired OpenPay Pty Ltd in September 2025 to integrate BNPL services, billing, subscription management, payment orchestration, and revenue analytics into its financial infrastructure platform. This acquisition positions Openpay as part of Airwallex's full-stack global billing provider strategy.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Openpay competitors and assessment

Company assessment

Direct peers

Humm Group: ANZ-headquartered BNPL provider specializing in larger-ticket purchases (electronics, furniture, automotive, home improvements). Comparable to Openpay in vertical diversification and focus on higher-value installment transactions rather than small-ticket purchases.
Afterpay (Block): Australian-founded BNPL pioneer that pioneered the pay-in-installments model in ANZ before being acquired by Block. Most directly comparable to Openpay on origin geography (ANZ), product (installment payments at point of sale), and target consumers.
Laybuy: UK- and New Zealand-headquartered BNPL provider offering short-term installment plans to consumers at point of sale. Comparable to Openpay as a smaller ANZ/UK BNPL competitor with overlapping geographic footprint and product offering.
Klarna: Global BNPL leader operating across Europe, the US, and Australia with pay-in-installments and pay-later products. Directly comparable to Openpay in product offering and target customers, though at significantly larger scale.
Sezzle: US and Canada-focused BNPL provider offering pay-in-installments products at point of sale. Comparable to Openpay as a smaller-cap BNPL competitor with similar installment product mechanics and consumer target audience.
LatitudePay (Latitude Financial Services): ANZ-focused installment lending product offered by Latitude Financial across retail, automotive, and personal lending. Comparable to Openpay as a multi-vertical ANZ installment lender serving both consumers and merchants.
Splitit: BNPL provider that splits purchases into installments using existing credit card balances rather than new credit lines. Comparable to Openpay in installment payment mechanics and merchant-facing B2B2C distribution model.
Affirm: US-listed BNPL provider offering pay-later and pay-in-installments products across multiple verticals. Comparable to Openpay as a multi-vertical installment lender with similar merchant-acquisition go-to-market motion.
Zip Co: ASX-listed BNPL provider with operations across ANZ, the US, and the UK. Closely comparable to Openpay as a direct ANZ-headquartered BNPL competitor targeting consumers and merchants with installment payment plans.
Payright: Australian BNPL provider focused on larger-ticket retail purchases, including automotive and home improvement. Comparable to Openpay's vertical specialization strategy, particularly the automotive BNPL focus via Payment Assist.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Openpay financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Openpay leadership team

Management profile

Number of profiles

Profiles6 records

Openpay subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

Openpay funding detail

Funding detail

Funding overview

Funding rounds3 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Openpay M&A and investment

M&A and investment

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Openpay

What does Openpay do?

Is Openpay a public or private company?

Openpay is a public company. It is classified as corporate owned and is currently acquired.

When was Openpay founded?

Openpay was founded in 2013. It employs 51 to 100 people.

Where is Openpay based?

Openpay is headquartered in Melbourne, Australia, in the Oceania region.

How does Openpay make money?

Two revenue lines are on record. BNPL Transaction Fees are the primary driver. The others are consumer Financing.

Who are Openpay's main competitors?

Direct peers on record are Humm Group, Afterpay (Block), Laybuy, Klarna, Sezzle, LatitudePay (Latitude Financial Services), Splitit, Affirm, Zip Co and Payright.

Does Openpay have an API?

No public API is recorded for Openpay.

What industry is Openpay in?

Openpay's product category is Buy Now Pay Later (BNPL). Its primary akta.pro industry code is FSAGACAJ, Recurring Payments & Variable Recurring Payments (VRP) Enablement. Its NAICS code is 52222 and its SIC code is 6141.