MediPay
MediPay is an Australian fintech lender that provides unsecured personal loans as payment plans for medical, dental, cosmetic, and veterinary procedures, serving Australian consumers through a direct-to-consumer platform and a B2B2C practitioner referral network.
- Company typePrivate
- Founded2015
- HeadquartersSydney, Australia
- Headcount11–50
- GTM typeB2C
- OfferingServices
What MediPay does
MediPay is an Australian consumer finance company headquartered in Sydney that originates unsecured personal loans structured as payment plans for medical, dental, cosmetic, and veterinary procedures. Founded in 2015 and operating under Australian Credit Licence 474336 through two related entities (MediPay Holdings Pty Ltd and MediPay Financial Services Pty Ltd), the company targets Australian residents earning above $25,000 annually who face out-of-pocket costs not covered by Medicare or private health insurance, as well as pet owners needing veterinary financing.
The platform is built around a digital application and disbursement workflow: applicants complete a 10-second eligibility check via five yes/no questions, submit a 5-minute online application without uploading payslips or tax returns, and receive a conditional approval decision within 60 minutes during NSW business hours. Final approval uses 90 days of bank-statement income verification supplied through a partner integration with bankstatements.com.au. Once approved, funds are paid directly to the treating practitioner within 24–48 hours. Supporting infrastructure includes an online Borrower Portal for self-service account management, a repayment calculator, and a formal Financial Hardship Support programme.
MediPay earns revenue primarily through interest income on drawn loan balances (21.95% p.a., comparison rate 24.21%), tiered one-time loan approval fees ranging from $140 to $795 added to the loan principal, and a $14.50 monthly administration fee. Loans range from $2,001 to $30,000 over up to 48 months for human procedures and $2,001 to $10,000 over 36 months for veterinary procedures under the MediPay for Pets sub-brand. Customer acquisition combines a direct-to-consumer digital funnel with a B2B2C practitioner referral channel in which dentists, doctors, and vets recommend MediPay at point of care, supported by marketing materials and dedicated account managers. The company has raised no disclosed external funding and appears to operate as a self-funded, bootstrapped SME.
MediPay firmographics
Firmographics- Name
- MediPay
- Legal name
- MediPay Holdings Pty Ltd
- Website
- https://medipay.com.au
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- MediPay is an Australian fintech lender that provides unsecured personal loans as payment plans for medical, dental, cosmetic, and veterinary procedures, serving Australian consumers through a direct-to-consumer platform and a B2B2C practitioner referral network.
- Ownership category
- akta.pro rank
MediPay industry classification
Industry- Product category
- Healthcare Financing
- SIC
- Hospital & Medical Service Plans (6324)
- akta.pro primary industry
- Medical & Healthcare Personal Loans (Unsecured Installment) (FSAKAAAF)
- akta.pro secondary industry
- Healthcare & Medical POS Financing (FSAKAFAI)
Keywords
Where MediPay is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
MediPay business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Interest Income on Loans: MediPay generates primary revenue through interest charges on unsecured personal loans. The standard interest rate is 21.95% p.a. with a comparison rate of 24.21% p.a. Interest is only charged on the amount actually drawn down, not the approved limit.
- Loan Approval Fees: One-time loan approval fees ranging from $140 to $795 depending on loan amount. These fees are added to the loan balance so borrowers do not pay upfront. Fee tiers: $140 (under $3,000), $295 ($3,000-$4,999), $395 ($5,000-$9,999), $495 ($10,000-$14,999), $595 ($15,000-$24,999), $695 ($25,000-$34,999), $795 ($35,000+).
- Monthly Administration Fees: Monthly administration fee of $14.50 per month charged throughout the loan repayment period for account maintenance and servicing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Medical, Dental & Cosmetic Loans: $2,001 - $30,000 over 48 months |
| Transaction based/ take rate | Monthly | Pet Veterinary Loans: $2,001 - $10,000 over 36 months |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
MediPay product offering
Product offeringCore offering
MediPay provides unsecured personal loans structured as payment plans for medical, dental, cosmetic, and veterinary procedures in Australia. Loan amounts range from $2,001 to $30,000 for human healthcare procedures (up to 48-month terms) and $2,001 to $10,000 for veterinary procedures (36-month terms), with funds paid directly to the practitioner within 24-48 hours of approval. The company earns revenue through interest charges (21.95% p.a.), one-time loan approval fees ($140-$795), and a $14.50 monthly administration fee.
Product overview
MediPay operates as a single product platform offering unsecured personal loans structured as payment plans for medical, dental, cosmetic, and veterinary procedures. The core offering is the MediPay Payment Plan (covering human medical procedures from $2,000 to $30,000 over up to 48 months) and the MediPay Pet Payment Plan (for vet bills from $2,001 to $10,000 over 36 months). The Borrower Portal provides self-service account management, and a Repayment Calculator supports pre-application planning. All plans feature direct practitioner payment, no early repayment penalties, and plain-English terms, supplemented by a Financial Hardship Support programme for borrowers facing financial difficulty.
Differentiator
Problem solved
Functional benefit
Brands
- MediPay for Pets: Payment plans specifically for pet veterinary procedures, covering vet bills from $2,000 to $10,000
Products and services
- MediPay Payment Plan
- MediPay Pet Payment Plan Specialized payment plan for veterinary expenses in Australia, covering amounts from $2,001 to $10,000 with 36-month repayment terms. Features the same interest rate structure as the core medical payment plan (21.95% p.a.) with flexible repayment options, no early repayment penalties, and direct payment to the veterinary practice within 24-48 hours of approval. Targeted at Australian pet owners facing unexpected or costly veterinary procedures.
Quantifiable outcome
- Eligibility check in 10 seconds
- +4 more outcomes
Companies that use MediPay
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles3 records
MediPay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
MediPay partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- bankstatements.com.aucoreMediPay uses bankstatements.com.au as a trusted technology partner for secure income verification. The integration allows borrowers to securely share 90 days of bank statements for income verification during the loan approval process. The service uses bank-grade security technology similar to major Australian banks. MediPay staff cannot access borrowers' online banking passwords through this integration.
- Practitioners (Doctors, Dentists, Vets)coreHealthcare practitioners who recommend MediPay payment plans to their patients. MediPay provides marketing materials, brochures, and dedicated account managers. Practitioners benefit from offering their patients flexible payment options, and MediPay pays practitioners directly within 24-48 hours for approved procedures.
Scale indicators4 records
Recent moves5 records
Expansion highlights4 records
MediPay competitors and assessment
Company assessmentDirect peers
- Pretty Penny Finance: Pretty Penny Finance is an Australian specialist lender focused on cosmetic surgery and elective procedure financing. It directly overlaps MediPay's cosmetic-procedure loan vertical with similar loan sizes and practitioner-referral acquisition.
- Medfin: Medfin provides medical procedure financing in Australia, including elective and cosmetic treatments, with similar practitioner-network distribution and patient loan products that compete head-to-head with MediPay's medical/dental offerings.
- Denticare: Denticare offers payment plans specifically for dental procedures in Australia, directly overlapping MediPay's dental financing product line with comparable practitioner partnerships and patient repayment structures.
- Mac Credit: Mac Credit provides payment plans for dental, medical, and veterinary procedures in Australia through a practitioner referral model, closely mirroring MediPay's product structure and customer base across both human and pet healthcare financing.
- TLC (Total Lifestyle Credit): TLC is an Australian consumer lender offering interest-free and low-interest payment plans for dental, medical, cosmetic, and veterinary procedures — the most direct competitor to MediPay in the same vertical with the same target customers and practitioner-network distribution model.
Emerging players
- HealthNow: HealthNow is an Australian healthcare payments platform offering buy-now-pay-later-style financing for medical, dental, and veterinary services. It competes with MediPay in the same end markets but with a different fee/credit structure.
- Openpay: Openpay is an Australian BNPL provider with vertical-specific products in healthcare, automotive, and home improvement. Its healthcare vertical product competes directly with MediPay's longer-term procedure financing with a more capital-light model.
Broad incumbents
- Zip Co: Zip Co is a major Australian-listed BNPL provider that has expanded into broader consumer lending. Its products overlap with MediPay's at the lower loan-size end and represent the main fintech competitive threat from a well-capitalized incumbent.
- Afterpay: Afterpay (now Block) is the dominant Australian BNPL player that increasingly extends to healthcare verticals. While its short-form installment model differs from MediPay's term loans, it competes for the same patient affordability need at the point of care.
- Latitude Financial Services: Latitude Financial is a large Australian consumer lender offering personal loans, credit cards, and BNPL products. Its personal loan book competes with MediPay for unsecured procedure financing, with much greater capital resources and brand recognition.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
MediPay social profiles
Digital presenceMediPay compliance and trust
Trust signalCompliance2 records
MediPay financial estimates
Financial estimateRevenue estimate
Valuation estimate
MediPay leadership team
Management profileNumber of profiles
Profiles1 record
MediPay funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MediPay M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MediPay
What does MediPay do?
MediPay provides unsecured personal loans structured as payment plans for medical, dental, cosmetic, and veterinary procedures in Australia. Loan amounts range from $2,001 to $30,000 for human healthcare procedures (up to 48-month terms) and $2,001 to $10,000 for veterinary procedures (36-month terms), with funds paid directly to the practitioner within 24-48 hours of approval. The company earns revenue through interest charges (21.95% p.a.), one-time loan approval fees ($140-$795), and a $14.50 monthly administration fee.
Is MediPay a public or private company?
MediPay is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was MediPay founded?
MediPay was founded in 2015. It employs 11 to 50 people.
Where is MediPay based?
MediPay is headquartered in Sydney, Australia, in the Oceania region.
How does MediPay make money?
Three revenue lines are on record. Interest Income on Loans are the primary driver. The others are loan Approval Fees and monthly Administration Fees.
Who are MediPay's main competitors?
Direct peers on record are Pretty Penny Finance, Medfin, Denticare, Mac Credit and TLC (Total Lifestyle Credit). Emerging players are HealthNow and Openpay. Broad incumbents are Zip Co, Afterpay and Latitude Financial Services.
Does MediPay have an API?
No public API is recorded for MediPay.
What industry is MediPay in?
MediPay's product category is Healthcare Financing. Its primary akta.pro industry code is FSAKAAAF, Medical & Healthcare Personal Loans (Unsecured Installment), with a secondary code of FSAKAFAI, Healthcare & Medical POS Financing. Its SIC code is 6324.