Cross River To Power Openpay’s US Expansion
OPY
October 6, 2021
OPY USA AND CROSS RIVER ANNOUNCE GROUNDBREAKING PARTNERSHIP INCLUDING NEW BNPL CREDIT PROGRAM
Cross River To Power Openpay's US Expansion
SAN DIEGO, CALIF. - ‘Buy now, Pay smarter.' company, Opy USA, Inc., (Opy), and its parent company Openpay Pty Ltd (ASX: OPY) (Openpay), have strategically partnered with Cross River Bank (“Cross River”) a technology-driven financial services organization that provides core infrastructure and embedded financial solutions, to offer Opy’s differentiated next-generation “Buy Now, Pay Smarter” products for consumer banking loans.
While many traditional Buy Now Pay Later (“BNPL”) programs cater primarily to small, retail purchases, Opy’s Buy Now, Pay Smarter services are aimed at a broad swath of consumers to help them afford and pay for crucial life needs with transparency and confidence. As Opy advances on its strategic plans to rapidly enter the US payments market, partnering with Cross River will accelerate Opy’s entry into the US marketplace and provides consumers access to loans ranging in amounts up to $20,000 and with terms up to 24 months.
“This foundational partnership with Cross River enables us to help consumers manage finances, preventing them from declining critical services and purchases due to costs, such as important dental care or an emergency pet surgery,” said Brian Shniderman, CEO of Opy and Chief Strategic Officer for Openpay. “Cross River is in a unique position in the lending ecosystem, and we are thrilled to choose Cross River as our partner in the US where we are already experiencing incredibly strong demand for our plans. This partnership will enable Opy to successfully fill a large void in the existing US market with our longer, larger, customized, and interest-free product.”
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