Australia's largest stock trading and investment forum Australia's #1 stock forum

OPY

Click for more information

0.00%

19.5¢ openpay group ltd

Thanks for explaining, so basically OPENPAY is like a bank, they...

First 35 Last

Share
Profile

Follow
NOCASH

583 Posts.

6

14/07/20

14:10

Post #: 45854465
Share

Originally posted by bobbydazzler85: ↑

Openpay automatically transfers payment into the merchant’s nominated bank account the following business day. The final amount that is received is the residual/balance after the agreed merchants fees and GST has been deducted (as outlined in the merchant agreement).

Openpay like Afterpay wears the risk of the purchase. If a customer defaults they lose the 3-4% fee's plus the cost of the item.

I'm not sure with Open Pay but with Afterpay when a customer defaults it doesnt impact their credit score, unlike on a credit card etc.

Not sure this is a good thing for attracting borrowers that see that as a benefit!

Expand

Thanks for explaining, so basically OPENPAY is like a bank, they loan out money to people to shop online on there platform and rely on them to pay back the purchase price. The shop/seller will get paid the next following day minus the fees, admin etc...

OPY Price at posting: $4.56 Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

Reply

There are more pages in this discussion • 6 more messages in this thread...

First 35 Last

Add OPY (ASX) to my watchlist