Top member reports
No meetings
Consensus community valuation
The consensus valuation is for members only and has been removed from this chart. Click for membership options.
No value forecast available for this company
Contributing Members
Content is delayed by one month. Upgrade your membership to unlock all content. Click for membership options.
#Liquidators Appointed
stale
Added 2 years ago

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 stuart.condie@wsj.com

(END) Dow Jones Newswires

Read More
Valuation of $0.001
stale
Added 2 years ago

Yes, valuation of zero, a do not touch company in my opinion. Reading the financials, I can't believe anyone would want to invest. Openpay lost $81 mil in FY22 with a current MC of $47 and the best bit, they lost that amount to bring in only $32 mil in revenue! Closing UK and US operations, to stop the cash burn.

I have never understood how the BNPL model actually becomes profitable unless you become the only player in the market at a massive scale. If Openpay is slowing growth how does it expect the reach this scale? The Openpay product is effectively a credit card at a lower interest rate. In my opinion, the one making the profit from the product is the consumers not the company, not a very good business model....

Negative equity, more borrowings than cash on hand + receivables. This will only last as long as the financiers allow it too...

Read More
#Agreement 29/3/21
stale
Added 4 years ago

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

View Attachment

Read More
#New Partnership 23/2/21
stale
Added 4 years ago

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.

View Attachment

Read More
#New Partnership 17/2/21
stale
Added 4 years ago

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

 

View Attachment

Read More