Insights

Here’s why the Openpay (ASX:OPY) share price is charging 5% higher today

The Openpay Group Ltd (ASX:OPY) share price is charging higher on Monday after announcing a deal with ezyVet in the UK and US markets…
The post Here’s why the Openpay (ASX:OPY) share price is charging 5% higher today appeared first on The Motley Fool Australia. –

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company

The Openpay Group Ltd (ASX: OPY) share price has started the week in a positive fashion.

In morning trade, the buy now pay later (BNPL) provider’s shares are up 5% to $2.82.

Why is the Openpay share price charging higher?

This morning Openpay announced its entry into the US$55.8 billion US and UK veterinary markets via new partnerships with ezyVet.

The release explains that ezyVet is the next generation in cloud-based practice management software for veterinary professionals who want to save time, grow their business, and deliver excellence in all aspects of veterinary care.

It supports clinical data across the workflows of over 40,000 licensed users and 2,000 practices across several countries. From these, more than 1,200 practices are in the US, accounting for 25% of the veterinary cloud software market in the country.

What are the agreements?

According to the release, under the agreements, Openpay will be integrated as a payment option within the ezyVet vet practice management software, and ezyVet will introduce vet practice clients to Openpay.

This partnership will enable any of ezyVet’s practices in the US and those in the UK to offer payment plans to pet owners seeking to spread the cost of their veterinary procedures and treatments.

Management expects Openpay to be made available on the ezyVet platform to consumers in the UK before the end of FY 2021 and in early FY 2022 in the US.

Openpay’s CEO, Michael Eidel, commented: “We launched with ezyVet in September last year in Australia to enable pet owners and their fur babies to access Openpay. With a surge in the number of pets being brought into families through COVID-19 lockdowns, this relationship really took off as people sought smarter ways to budget and pay for pet care.”

“We’re delighted to be taking the successful model and trusted partnership with ezyVet to our US and UK operations. This is an important milestone for us – it signifies our first significant US partnership and our entry into the UK healthcare vertical.”

Openpay’s USA CEO and Global Chief Strategy Officer, Brian Shniderman, added: “In the US, owners spend an average of around US$1,380 annually on their dogs which make up the majority of pets in US households. We plan to be just as loyal to our customers as dogs are to their human families by giving them the ability to pay for unexpected illnesses and injuries that afflict all of their cherished pets.”

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Here’s why the Openpay (ASX:OPY) share price is charging 5% higher today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!