Openpay (ASX:OPY) share price rallies as services go live in the US

Openpay is the newest player taking a bite out of the lucrative US market.
The post Openpay (ASX:OPY) share price rallies as services go live in the US appeared first on The Motley Fool Australia. –

The Openpay Group Ltd (ASX: OPY) share price is trading higher on Wednesday after the company announced its official launch in the United States.

At the time of writing, the Openpay share price is 1.81% higher to $1.41.

Openpay live in lucrative US market

Openpay is now live and transacting in the US healthcare market. More specifically, it’s operating in the veterinary sector via its partner ezyVet.

ezyVet is currently distributing Openpay services across its 1,200 US veterinary hospitals and clinics through its leading practice management platform.

“The US specialty veterinary market has high transaction values for procedures such as MRIs, CT scans, and reconstructive surgery,” Openpay said.

“OpyPay is conducting a controlled roll-out with the first live OpyPay ezyVet locations in California, Michigan, Virginia, and Ohio.”

Openpay believes it provides the US market with a differentiated payments solution. It is looking to offer consumers flexible instalment plans designed for larger purchases in sectors including healthcare, dental, auto repair, education, and big-ticket retail.

Management commentary

Openpay’s CEO and Global Chief Strategy Officer Brian Shniderman hailed the milestone:

We’re thrilled to announce the successful US launch of OpyPay – a milestone for the Openpay Group and a clear affirmation of our US strategy.

Our longer, larger, customized installment plans are built for life’s unexpected and important expenses, such as emergency dental surgery, sudden auto repair, and medical care for a beloved pet.

In partnership with ezyVet, OpyPay will be made available to 1,200 US clinics as the rollout progresses – and we look forward to other partnerships to efficiently access our target verticals.

Openpay share price snapshot

The Openpay share price has declined 37% year-to-date, broadly consistent with its struggling small cap peers such as Splitit Ltd (ASX: SPT) and Laybuy Holdings Ltd (ASX: LBY).

However, it’s managed to stabilise in the last three months, holding around the $1.30 to $1.40 level.

The post Openpay (ASX:OPY) share price rallies as services go live in the US appeared first on The Motley Fool Australia.

Should you invest $1,000 in Openpay right now?

Before you consider Openpay, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Openpay wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Openpay (ASX:OPY) share price jumps 13% on US update

These were the best performing ASX BNPL shares in September

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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.

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!