Insights

Openpay (ASX:OPY) share price on watch after agreement with Worldpay

The Openpay Group Ltd (ASX: OPY) share price is on watch after the payment provider announced a collaborative partnership with Woldpay.
The post Openpay (ASX:OPY) share price on watch after agreement with Worldpay appeared first on The Motley Fool Australia. –

ASX share price on watch represented by man looking through magnifying glass

Early yesterday morning, Openpay Group Ltd (ASX: OPY) requested a trading halt from the ASX ahead of Monday’s session. The halt was expected to remain in place until Wednesday this week or until an announcement was released. Since then, the self-dubbed ‘buy now, pay smarter’ payment solution provider has announced a material partnership.

However, the Openpay share price remains halted at $2.41 following the announcement.

Expanding with Worldpay

According to the release, Openpay and its US business, Opy USA, have secured an agreement with the global payments provider Worldpay.

For those unfamiliar with Worldpay, it is a payment processing company owned by Fidelity National Information Services Inc (NYSE: FIS). In the latest quarter, FIS recorded US$3.3 billion in revenue from providing banking, merchant, and capital market solutions.

Under the newly signed agreement, Openpay and Worldpay will collaborate to offer flexible ‘buy now, pay smarter’ payment products and other solutions to merchants and customers in regions where Openpay operates.

To do this, Worldpay will integrate Openpay products onto its payment gateway. This will enable FIS merchants to quickly and seamlessly implement Openpay’s payment solutions.

The partnership with FIS will be used by Openpay to acquire merchants in the United States. Subsequently, other regions where the integration is made available will be used to expand the company’s merchant base. However, for now, the focus is on the US market.

Openpay share price chasing growth

The expansion with Worldpay comes only a week after the Openpay share price jumped on news of a partnership with EzyVet. The deal enables the ASX-listed company to break into the US$55.8 billion US and UK veterinary markets. EzyVet is a cloud-based practice management software for veterinary professionals, supporting over 40,000 licensed users. 

The collaboration with EzyVet means vet clinic customers will be offered Openpay’s payment solutions in any of EzyVet’s practices. It is evident through this partnership and yesterday’s announcement that Openpay is eager to continue expanding. 

Although, this isn’t exactly a surprise, given the outline in the company’s H1 FY21 results presentation. Openpay specified it was preparing to roll out core verticals of automotive and healthcare in the UK. Furthermore, the company’s third ‘pillar of success’ is to create large-scale, sustainable ecosystem partnerships. 

Despite the recent partnerships, the Openpay share price has proceeded to fall 28% from mid-February. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has dipped 1.2% over the same timeframe.

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 Mitchell Lawler 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 Openpay (ASX:OPY) share price on watch after agreement with Worldpay 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!