We’re pleased to announce our updated range of plans together with a simpler, single fee structure for your customers.
When does the pricing change happen?
From Tuesday 15th February 2022, we will begin applying our new customer fee structure to all Openpay merchants. Each merchant will be informed via email of the exact date when the fees will be updated. The new customer fees will apply for all new Openpay plans from the changeover date.
What are the changes for customers?
Openpay’s new customer fees don’t change how customers use Openpay’s product. The only difference will be the fees paid and the first initial deposit. Any fees which a customer will be required to pay when taking out an Openpay plan will be clearly displayed before they proceed.
Below is an overview of our plan terms, customer fees and customer deposit:
Why is Openpay’s pricing structure being updated?
Our commitment to customers remains our priority. These changes are aimed at creating a more simple and transparent pricing structure. We also wanted to also provide customers with a greater choice of plan terms at checkout. Oh, and we removed the establishment fees on all new plans!
How does this affect me as an Openpay merchant?
The Openpay plan lengths you currently offer will not change. For example, if your business currently offers 2, 3 and 4 month plans, these will continue to be the only plans you’ll offer.
The only change will be to the plan fees and deposit amount associated with each new plan the customer takes out. This will be automatically applied on our end.
Are the customer fees and deposit the only thing that is changing?
Yes. Your current plan terms, minimum and maximum spend limits and rates will remain the same. If you would like to offer additional plan terms for your customers, please contact us and we will help facilitate this for you.
What happens with existing customer plans taken out before this change?
Customers who have plans which are currently active will continue making repayments based on the fee structure made available to them at the time their plan was created. The new fee structure only apply to new plans created once the change comes into effect.
I have Openpay’s old customer fees listed on my website and instore point of sale. What can I do to refresh these?
Reach out and we can assist you with website updates and new point of sale collateral:
Email: merchants@openpay.com.au
Phone: 1300 168 359
