MediPay

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.

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

Product category

Healthcare Financing

SIC

Hospital & Medical Service Plans (6324)

akta.pro industry

PRIMARYFSAKAAAF

Medical & Healthcare Personal Loans (Unsecured Installment)

Financial & Insurance/Lending & Consumer Finance/Personal Loans (Unsecured Installment)

SECONDARYFSAKAFAI

Healthcare & Medical POS Financing

Financial & Insurance/Lending & Consumer Finance/Point-of-Sale (POS) & Retail Financing (Installment)

Keywords

• Healthcare payment plans
• Medical procedure financing
• Dental financing
• Veterinary payment plans
• Cosmetic surgery loans

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. 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.
2. 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+).
3. Monthly Administration Fees: Monthly administration fee of $14.50 per month charged throughout the loan repayment period for account maintenance and servicing.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core 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

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• bankstatements.com.aucoreTechnology or IntegrationMediPay 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)coreChannel Partner/ Reseller/ DistributorHealthcare 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

Direct 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

• YouTubeyoutube.com/watch?v=sFNe9-zEiWk

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about MediPay