On 14 October 2020, Openpay’s CEO, Michael Eidel, presented at IR Department’s virtual investor conference, IRD Invest, an event designed to bring investors directly to the CEOs of emerging ASX listed companies.
Openpay Group Ltd (ASX: OPY) is a well-established player in the fast-growing global market for ‘Buy now pay later’ (BNPL) payment solutions. Openpay partners with merchants to provide BNPL repayment plans to customers instore, in-app and online.
In the presentation, Michael Eidel discusses:
- Openpay’s differentiated “Buy Now, Pay Smarter” approach, with its flexible platform which enables the most flexible BNPL plans on the market; its focus on industries where it can make a true difference to merchants and consumers, such as Healthcare, Home Improvement and Automotive; its strategy of targeting customers that are finance savvy people of an older demographic that use Openpay as a smart budgeting tool; and its B2B product, Openpay for Business.
- How while FY20 was a difficult year due to COVID-19, the company had some extraordinary achievements, including record growth in key metrics and the execution of long-term partner integration agreements to allow Openpay to grow its product at scale
- How Openpay has listened to its customers and conducted a soft launch into new verticals, Education and Memberships, with a hard launch expected in H1 FY21
- Priorities going into FY21 include more strategic exclusive partnerships for Openpay’s BNPL and B2B products, extending the company’s footprint in the UK and expansion into Europe
For the full presentation click here.