Now more than ever, small business owners and consumers alike need smarter ways to pay their expenses. As many as 25% of millennials don’t have, or want, a credit card, and small business owners who need to make big purchases to stay afloat, need a way to pay them over time. The demand for smarter, more affordable payment solutions from U.S. merchants is evident, as the need to compete and stay in business grows exponentially.
Simply put, merchants recognize that they need a strong buy now, pay later (BNPL) and B2B solution set to grow and stay competitive and to compete. Most are unhappy with the current options they have available in the U.S.
Enter Australian Buy Now, Pay Later (BNPL) leader, Openpay, with its launch into the U.S. market. Openpay’s launch strategy will build upon three pillars: 1). a smarter, more consumer and merchant friendly set of products, 2). a wholesale approach to distributing those products with the processors they are aligned with, for deal flow, and 3). a powerful sector-based approach where Openpay will be positioned to dominate in the healthcare, auto, and home improvement verticals.
Openpay has partnered with The Pollack Group (TPG) to launch its operations in the U.S., as investment surges across the new retail payments platform space. The agency will serve as Openpay’s U.S. communications agency partner, helping establish Openpay as a leader in the space through a strategic media relations program and thought leadership platform.
“As a public traded company in Australia (ASX: OPY), it is super important that we have the right partner to help tell and differentiate our story as we immediately accelerate and operationalize our plans here in the U.S.,” commented Brian Shniderman, Openpay US’ CEO and Openpay’s Global Chief Strategy Officer. “With multiple audiences across the payments spectrum, including banks, merchants, processors, we need to showcase how Openpay is leading the shift toward a much more consumer friendly and merchant-centric payments future, and we are glad to have The Pollack Group on our side.”
“Buy now, pay later solutions are seeing a substantial upsurge in demand from merchants and consumers alike,” explained Stefan Pollack, president, and CFO of TPG. “We are delighted to be working with an innovative company that is delivering much-needed consumer-friendly and merchant-centric payment alternatives. Openpay’s robust platform enables it to deliver the most transparent, flexible, and fair plans in the market. Our work will help position Openpay U.S. as a leader in the buy now, pay later marketplace, and showcase its differentiated value proposition.”