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Renewals and Openpay - Buy now, pay smarter

20 May 2020 3:15 PM | Abby Fields (Administrator)

With many associations entering renewal season, they are looking for ways to enable affordability for members during these unprecedented times, whilst balancing their own cash flow. There are direct debit options, membership extensions, pauses and many possibilities in between. An option that you may like to explore is what AuSAE Industry Partner Openpay can offer.

Openpay is a part of the buy-now-pay-later industry in Australia and uses the mantra “Buy Now, Pay Smarter”.  If your member chooses to use Openpay for their membership fees, Openpay will pay your association the full value of the membership upfront but allow your member to repay that amount – interest free – back to Openpay directly over 3 or 6 months.

Importantly, your association will get paid the full value of the membership up-front resulting in no adverse effect on your cash flow.

The benefits of allowing your members to pay in instalments through Openpay include:

  • No More Chasing Payments:  Responsibility for collecting repayments rests 100% with Openpay.
  • Improved Cash Flow:  With certainty that payment in full will be made within 24 hours, cash flow concerns are eliminated.
  • Modern Payment Solution:  Buy-now-pay-later solutions have been embraced by the marketplace and are now the preferred method of payment for a very large (and increasing) part of the population.
  • Increased Sales:  With the opportunity to pay fees over time the price (and any future price rises) will become less of an issue for your members resulting in an increase in sales.

How does Openpay work?

If you process payments through your website, Openpay can easily integrate with the most of the popular ecommerce platforms.  Openpay will be listed as a payment method option, making the membership purchase seamless.

Alternatively, without website integration onto your payment platform your members will simply need to install the Openpay app on their phone and then call you to process the payment manually.

While the service is interest-free for your members, Openpay charge a small merchant fee to your organisation.  Note:

  • Openpay’s merchant fee replaces the existing bank merchant fees you currently pay (it is not in addition to) and
  • AuSAE have been able to negotiate some special member-only rates on your behalf.

To find out more information or to set up an account, please contact Jon Urquhart at Openpay on 0407 004 470 or email him: jonu@openpay.com.au



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