OpenPay - Terms & Conditions

Openpay Customer Terms and Conditions

1.     Your agreement with us

1.1.1. Your credit contract with Openpay Pty Ltd ACN 159 699 126 of Level 40, 120 Collins St,
Melbourne, VIC 3000 (“we/us”) consists of:
a) these terms and conditions; and
b) where you have financed a purchase under an Openpay Plan (being for a single purchase), the
Openpay Plan Schedule emailed to you as a confirmation after the time of purchase; or
c) where you have financed a purchase under an Open Plan (being for multiple purchases), each Open
Plus Plan emailed to you as a confirmation after the time of each purchase financed under the
credit contract.
1.2. You will be taken to have accepted the terms of this credit contract when you first pay a
deposit in accordance with clause 2.
1.3. By entering into this credit contract, you declare that all information you have given in
connection with it is accurate and not misleading and you are aware that we are relying on it.
1.4. When you apply for credit with us you will be required to provide the following personal
identification information for us to process your application: your name, address, date of birth,
mobile phone number and home phone number (or alternate secondary contact number), email address
and Australian photo identification (preferably a driver’s licence).
1.5. We will not allow you to redraw any amount under your Open Plus Plan in accordance with clause
9.2, or enter into a new Openpay Plan, until you have made at least 20% of the repayments owing in
connection with your most recent purchase financed under a credit contract with us.

2.     Deposit
At the time you make a purchase which is, or is to be, financed under this credit contract, you
must pay Openpay a deposit equal to 20% of the purchase price unless the Participating Merchant
advises you otherwise, in which case your deposit will be confirmed in your Openpay Plan. This
deposit must be paid using a MasterCard or Visa debit or credit card in your name and is payable
within the Participating Merchant’s store. If the amount you wish to defer exceeds the limit set by
Openpay or Open Plus (“Credit Limit”) then you will be required to pay a larger deposit at the time
of purchase to ensure that you remain under the Openpay or Open Plus Credit Limit. Credit Limits
and Deposit details can be found on our website



















3.     Advancing Credit
3.1. Subject to payment of any deposit by you, we will finance the balance of the purchase price in
the amount specified in the relevant Openpay or Open Plus Plan by paying that amount to the
Merchant on your behalf and debiting that amount to your account with us.
3.2.  Pre-Authorisation
3.2.1. When you make a purchase which is to be financed under this Contract. we may conduct a
pre-authorisation on your credit or debit card for a portion of the
total amount due under the Plan before we agree to fund your purchase.
3.2.2. Once the pre-authorisation is processed, we will then instruct your financial institution to
cancel the pre-authorisation.
Note: No funds are taken from your account at pre-authorisation but a temporary ‘hold’ is placed on
them. Once we have cancelled the pre-authorisation, it may take up to seven (7) days for your
financial institution to release the funds and before you are able to access them.

4.     Payment Obligations
4.1. You must repay the amount of credit we provide in relation to each purchase we finance by
making the repayments specified in the relevant Openpay or Open Plus Plan without set-off or
deduction for any reason. You may make any repayment sooner than its due date.
4.2.   You may make the repayments in the following ways:
4.2.1. by your Nominated Card;


4.2.2. in cash in person at our office at Level 40, 120 Collins St, Melbourne, VIC 3000 between 9am
to 5pm Monday to Friday; and
4.2.3. by cheque or money order sent by post to GPO BOX 5262, Melbourne VIC 3001 quoting your Plan
4.3. Unless you inform us that you wish to make a particular repayment by cash, cheque or money
order, you direct and authorise us to charge the amount of any repayments to your Nominated Card
when the repayment is due.
4.4. If a repayment is made through your Nominated Card, you will incur a card processing fee as
specified in your Openpay or Open Plus Plan.
4.5. For all repayments made by card, you must ensure there are sufficient funds available through
the use of your Nominated Card account to allow the repayment to be charged to the Nominated Card
when it is due. You agree to notify us promptly in writing if the Nominated Card specified in any
Plan that forms a part of this credit contract or any other card you nominate to us as a means of
making payment is cancelled, suspended, due to expire or otherwise ceases to be a means by which we
may collect payments while payments remain owing. In this case, you must immediately nominate
another card or pay the outstanding balance of instalments and all other monies payable under this
credit contract.
4.6. You must pay us any government stamp, duty or tax that we may be required to pay in connection
with your purchase and any payments you make to us.

5. Refund
If the Merchant approves a refund of the purchase price for any purchase financed under your credit
contract and notifies us accordingly, Openpay will refund the amount of any repayments you have
made by crediting those amounts to your Nominated Card account and you will not need to make any
further repayments in respect of that purchase. We do not charge you a fee in connection with this,
however we will not refund any fees you have already paid.

6.     Default and its consequences
6.1.   You default under this credit contract if:
6.1.1. you fail to pay any money when due, or fail to comply with any of your other obligations
under this credit contract;
6.1.2. you become bankrupt, are wound up or become subject to administration or receivership or any
similar thing under any law;
6.1.3. the Nominated card is cancelled or suspended or our attempt to charge any amount payable by
you to it is declined for any reason; or
6.1.4. we discover you gave us misleading or untrue information in relation to this credit
6.2. If you default, we may terminate this credit contract by notice to you and require you to pay
us the Outstanding Balance under this credit contract including all future repayments (even if they
are not otherwise due) and all other money payable under this credit contract including late
payment fees, administrative fees and processing fees. You authorise us to charge such amount to
your Nominated Card account.
6.3. If you are in default we may engage a debt collector. You must pay for any reasonable
enforcement expenses we incur.
6.4. If you default, we may apply any previously nominated card to any outstanding amounts on
either your Openpay or Open Plus Plan.
6.5. If you default we may attempt repayment to your nominated card in any manner and any amount we
choose, processing fees will apply to each of these payments.
6.6. You acknowledge that where goods or services you purchase using Openpay or Open Plus Plan are
delivered after the time of your purchase, the Participating Merchant may, under instructions from
Openpay, withhold delivery of those goods and services if you are in default under these terms and

7.     Dealing with our rights and obligations
7.1. We may assign or novate to any person or entity or otherwise deal in any manner with any of
our rights, obligations or interests under this credit contract and you consent to us assigning or
novating this credit contract.


8.     Notices
8.1. We agree that we may give you any notice or document regarding this credit contract and
otherwise communicate with you by email, post or personal delivery to the addresses you notify to
8.2. You may give us any notice or document regarding this credit contract by email to by post or by delivery to our office at Level 40, 120 Collins St, Melbourne,
VIC 3000.
8.3.   You agree to notify us promptly in writing if you change your name, address or email

9.     Special Terms and Conditions that apply to Open Plus
9.1.   This clause 9 only applies if you have a credit contract for an Openpay Plan.
9.2. Subject to clause 1.5, you may draw down any Available Credit under this credit contract to
finance future purchases with any of the current Open Plus Participating Merchants. A current list
of Participating Merchants is available on the website An establishment fee
is payable when you enter into this credit contract and a redraw fee is payable when you draw down
any of the Available Credit under the second and each subsequent Open Plus Plan forming part of
this credit contract.
9.3.   This credit contract continues until the sooner of:
9.3.1. termination by us upon your default under clause 6.2;
9.3.2. termination by us under clause 9.4; and
9.3.3. termination by you under clause 9.5.
9.4. After the expiry of all Open Plus Plans forming part of this credit contract, we can terminate
this credit contract at any time without cause by notice to you.
9.5.   You can terminate at anytime by contacting us.
9.6. On termination of this credit contract for any reason, you must immediately pay all amounts
owing under this credit contract without set-off or deduction.
9.7. If for any reason the Outstanding Balance exceeds the Credit Limit, you must immediately make
such payment as is necessary to reduce the Outstanding Balance to the amount of the Credit Limit.
9.8. The aggregate of the fees you must pay in connection with your Open Plus Plan (excluding Late
Payment Fees and the Debt Acceleration Fee) is capped as follows:
▪  In the first 12 months after commencement of this credit contract $200
▪  In each subsequent 12 month period $125

10.  Relationship between Openpay and the Participating Merchant
The Participating Merchant pays Openpay a fee in respect of each Plan.

11.  Interpretation

Capitalised words and phrases have the meaning given to them in the Plan(s) or in these terms and
conditions including this clause 10. The following words and phrases have the following meanings:
11.1. Available Credit at any time means the difference between the Credit Limit and the
Outstanding Balance at that time.
11.2. Credit Limit means the credit limit specified in a Open Plus Plan forming part of this credit
11.3. Fee means any fee specified in the “Fees” section of any Openpay Plan or Open Plus Plan that
forms a part of this credit contract.
11.4. Repayment means any repayment specified in the “Repayments” section of any Openpay or Open
Plus Plan that forms a part of this credit contract.
11.5. Openpay Product means Openpay or Open Plus Plan as specified in the “Openpay Product” section
of your Plan(s).
11.6. Nominated Card means the payment method specified in the “Nominated Card” section of a Plan
that forms a part of this credit contract including any card you later notify us in substitution
for that card.

11.7. Outstanding Balance at any time means the aggregate of all amounts owing under this credit
contract at that time.
11.8. Participating Merchant means a merchant that allows you to use Openpay or Open Plus to
finance a purchase from that merchant.
11.9. Merchant means the Participating Merchant specified in your Openpay or Open Plan.
11.10. Term means, in relation to a credit contract for an Open Plan, the period specified in the
initial Open Plan which forms part of this credit contract.






No customer fees are applicable on payment plans of 2 months. A processing fee per payment of up to
$3.95 is applicable on all plans of 3 months or longer, where payment is made by card.  An
establishment fee of up to
$60 applies to all approved Open Plus Plans. This fee varies at each merchant, ask your
participating merchant for full details.

Privacy Statement and Consent

You agree that we may collect your personal information to identify you, process any applications
you make, provide our services to you, and for our own internal business development purposes.
Unless you tell us not to, we may also use your information to let you know about products or
services that may interest you. We may also share your information with the Participating Merchant
at which your Openpay or Open Plus Plan Purchase was made. Your personal information may also be
disclosed to a debt collector if you are in default. We may obtain a credit report about you in
connection with your Openpay or Open Plus Plan and you consent to us doing this. A credit reporting
body (CRB) may include information about you in credit reports to credit providers (such as us) to
assist them to assess your creditworthiness. If you fail to meet your payment obligations or if you
commit a serious credit infringement, we may be entitled to disclose this to a CRB. The CRB we use
is Veda whose policy on the handling of personal information related to credit can be found
at .You have a right to request a CRB not to use your information for the
purposes of pre-screening direct marketing and you can also request a CRB not to use your
information if you believe on reasonable grounds that you have been or are likely to be the victim
of fraud.
We may be required to collect your information by the Anti-Money Laundering and Counter-Terrorism
Financing Act 2006. If you do not provide us with your personal information we may not be able to
provide our services to you.

We may disclose your personal information to our related bodies corporate and service providers. We
generally do not transfer information overseas.

Openpay’s Privacy Policy sets out how we manage the personal information we hold (including
information about your credit) and how you can seek access to, or the correction of, the
information we hold about you. It also sets out how you may complain about our information handling
practices and how we deal with such complaints.

Security Note

Openpay is responsible for protecting the security of Card Data (defined as a cardholder’s account
number, expiration date and CVV2) in our possession and will maintain commercially reasonable
administrative, technical and physical procedures to protect all the personal information regarding
you that is stored in our servers from unauthorised access and accidental loss or modification.
However, we cannot guarantee that unauthorised third parties will never be able to defeat those
measures or use such personal information for improper purposes. You acknowledge that you provide
this personal information at your own risk.