Openpay, the UK’s latest interest free payment solution, has today announced its latest partnership with Ideal World and Create and Craft, part of Ideal Shopping Direct Ltd, some of the UK’s most dynamic multi-channel retailers.
Continuing its growth in the UK, this marks Openpay’s first multi-channel retail signing and will give thousands of customers the opportunity to benefit from the fintech’s flexible interest-free, and easy to use ‘buy now, pay smarter’ payment plans. Selling a range of general merchandise from household goods to technology craft materials, the franchise’s customers will now be able to select from a number of Openpay purchase plans up to 11 months in length. The new offering is currently available to online customers only, but the partnership is expected to expand to TV consumers too, in the near future.
Whilst flexible spending forms part of the fintech’s key proposition, customers will still be required to pay an initial down payment at the point of purchase, helping encourage responsible spending and minimising returns. Beyond this, Openpay offers a great customer experience with an easy-to-use platform.
By encouraging shorter and more realistic lending plans, Openpay is continuing to empower sensible purchasing behaviour and offer consumers greater control over their borrowing.
Andy Harding, UK managing director of Openpay, said: “Moving into the broadcast retail space is a new area of the market for Openpay and Ideal World’s multi-channel approach is an exciting proposition for us. We are pleased to be able to offer their customers another transparent, more flexible way of paying for things, especially big-ticket items that can now be spread over a longer period.”
Jamie Martin, CEO at Ideal Shopping Direct, commented: “We are always looking at ways to improve our customer experience and help to make purchasing easier, and so partnering with Openpay was a logical choice for us. Their systems and mechanisms were easy to integrate with our own and we are looking forward to working with the new technology to boost our business growth into 2020.”
Openpay launched in the UK earlier this year, following a record period of growth in Australia. The company is set announce even more retail partners in the coming months.