Openpay shares jump on partnership with American Express

Highlights

  • Openpay enters into a 12-months partnership agreement with American Express.
  • Card holders and the US merchants of American express will be connected with the customisable services of Opy.

Buy now pay later (BNPL) company, Openpay Group Ltd (ASX:OPY) shares closed over 2% high today as the company announced its 12-months agreement with American express.

The partnership between Openpay and American Express

  • As per the ASX announcement on the partnership, multinational financial company American Express’s merchants will be connected with Opy customisable payment plans in the automotive and healthcare sectors.
  • In addition, the Opy plans in the US will be enjoyed by the members of the American Express card that will help them make repayment funding.
  • Lastly, the partnership includes exploring opportunities in the product development that will enhance the B2C and B2B platforms of Opy.

Suggested article: Openpay Group (ASX:OPY) jumps on acquisition of Payment Assist

President of Merchant Services-US at American Express, Collen Taylor, stated that

Bottom Line

Buy Now, Pay Smarter services will be offered to the card members and US merchants of American Express under the partnership agreement that will last for the 12-moths minimum. In addition, the announcement highlighted the companies plan to explore further product development opportunities, and it will be exciting to see the progress in this field.

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