Opy assembled an unmatched leadership team in US fintech that has decades of experience in payments, banking, fintech, regulatory, and retail. To ensure US success, Opy has completed its strategic launch plan, setting the stage for Opy's growth within the largest market in the world. Our flat fee is as little as one-third the cost of traditional consumer loans for the same purchases and provides marketplace expansion for merchants who accept Opy." "Opy delivers new and improved ways for consumers to make purchases, especially when faced with unexpected expenses, such as emergency dental surgery, a sudden auto repair, or medical care for a beloved pet. Our mission is to change the way people pay for the better," explained Brian Shniderman, CEO of Opy and Global Chief Strategy Officer for Openpay. "Through our longer, larger, customized installment plans in verticals we own, we are making a true difference. Targeted industry verticals include healthcare, dental and veterinarian services, education, home improvement, auto repair and servicing, and big-ticket retail. Opy provides consumers with a flat fee BNPL product with predictable payments designed for larger purchases and comes with longer terms, up to 24 months. Opy partners with leading aggregators and key merchants to provide a meaningful difference in a consumer's life. With Opy, US consumers now have a better version of BNPL that offers customized payment plans with spending power for up to $20,000 with longer terms of up to 24 months, enabling consumers to budget better and pay smarter.
Recent research from shows that 8 in 10 consumers would prefer to make high-value purchases using BNPL over personal loans or credit cards. US demand for BNPL options continues to rise, with forecasted transactions expected to exceed $100 billion in 2021.