I hope none here have been caught. Best of luck to any/all holders.

News SummaryDJ Receivers Appointed to Australian BNPL Company OpenpayOPY$0.195$0.00 (0.0%)$0.00$0.00

06 Feb 2023 08:54:572 ViewsBy Stuart Condie

SYDNEY--Australian buy-now-pay-later operator Openpay Ltd. entered receivership and has stopped funding new consumer purchases.

Shares in Openpay were suspended last week with the company saying it was in discussions with its lenders over ongoing funding requirements.

"Receivers and managers are now in control of assets, operations and trading activities of the company," receivers McGrathNicol said on Monday in a statement.

Openpay last year halted its U.S. operations to focus on its native Australia, citing the rising capital cost of expanding in the world's largest consumer market. It said at the time it hoped to be profitable by June 2023, and reiterated the aim as recently as November.

Write to Stuart Condie at [email protected]

(END) Dow Jones Newswires

Agreement secured with world-leading payments provider, Worldpay from FIS

Openpay Group Ltd (ASX: OPY) (Openpay or the Company) and its US business Opy USA have secured an agreement with global payments provider, Worldpay from FIS, part of the global financial products and services group Fidelity National Information Services, Inc. (NYSE:FIS) (See more at: https://www.fisglobal.com/en/about-us).

Under the agreement, the two companies will collaboratively endeavour to develop a mutually beneficial commercial relationship whereby, amongst other things:

•  The parties would collaborate to offer flexible ‘Buy now. Pay smarter’ payment products and other solutions to merchants and customers in territories in which Openpay operates;
•  Openpay products would be integrated onto the payment Gateway operated by WorldPay from FIS (“Integration”), thereby offering Openpay products to FIS’ merchants and enabling those merchants to implement Openpay’s offerings quickly and seamlessly; and
•  The Company will use Worldpay from FIS as its merchhant acquirer in the USA and, subsequently, in other territories in which Integration has been effected.

DISC~I have small holding

Openpay signs partnership with Ford Australia as key Auto customer

•  Openpay’s BNPL solution to be rolled out in partnership with Ford Motor Company of Australia to its dealership network to support customer car servicing needs
•  Strengthens Openpay’s leadership in Automotive sector and fits with strategy of focusing on specialist verticals beyond Retail: Automotive, Healthcare, Home Improvement, Education and Memberships
•  Continued delivery on objective to drive growth at scale in the Automotive vertical, where pushing upstream into automotive Original Equipment Manufacturers (OEMs) enables strong incremental utilisation amongst dealership groups
•  The agreement with Ford adds to Openpay’s portfolio of Merchant agreements with major Australian automotive organisations including ASX-listed Eagers Automotive Limited (ASX: APE) and Pentana Solutions which went live in February 2021.

Openpay launches partnership with leading Australian retailer, Officeworks

Key highlights:

~ New partnership goes live with leading retailer Officeworks, with Openpay plans to be rolled out across Officeworks online and in-store Australia-wide in February and March, respectively

~Partnership underlines Openpay’s mission to provide customers with a smart budgeting tool for life’s important purchases

~Further delivers on strategy of building Openpay’s portfolio of high-growth Merchant businesses at scale