Australia's Openpay strikes BNPL partnership deal with American Express

Openpay

01/12/2021 22:56

Dec 2 (Reuters) - Openpay Group Ltd  OPY.AX  will allow
American Express  AXP.N  card holders to fund their purchases
with its buy now, pay later (BNPL) services, the Australian
company said on Thursday.
    Openpay said the initial partnership would focus on about 40
American Express merchants in the healthcare and automotive
sectors interested in offering Openpay's BNPL plans.  urn:newsml:reuters.com:*:nASXMRhYS
    American Express cardholders will also be able to use
Openpay's plans in the United States and repay them with their
cards. 
    The deal comes nearly two months after Openpay secured
a$271.4 million in debt funding for its U.S. launch.
 urn:newsml:reuters.com:*:nL4N2R238H 
    The BNPL sector has seen considerable growth in recent
months since consumers began funding online shopping with
short-term borrowing during the COVID-19 pandemic.

 (Reporting by Harshita Swaminathan; Editing by Anil D'Silva)
 ((Harshita.Swaminathan@thomsonreuters.com;))