March 2023
Open, shut them: fringe lenders face uncertain future
The perfect storm is circling fintech lenders as soaring interest rates curtail their growth ambitions, leaving exposed unwieldy cost bases that have prompted nervousness.
- Updated
- Ayesha de Kretser and Jonathan Shapiro
February 2023
80 staff sacked as Openpay shuts
Buy now, pay later outfit Openpay has sacked more than half of its workforce as receivers try to salvage funds.
- Ayesha de Kretser
Receivers call time as Openpay closes
Openpay is the first buy now, pay later operator to fall victim to higher funding costs after receivers McGrathNicol were called in to close it down.
- Updated
- Ayesha de Kretser
May 2022
BNPL biz Openpay Group raising $20m; cornerstones locked
Listed buy-now-pay-later business Openpay Group was asking investors for fresh funds on Friday morning via Shaw and Partners.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
February 2022
UK tells buy now, pay later firms to give refunds, rewrite contracts
The Financial Conduct Authority tells Afterpay, Openpay, Laybuy and Klarna to make their terms clearer, and to refund late-payment fees in some cases.
- Updated
- Hans van Leeuwen
October 2021
- Analysis
- BNPL
How BNPL’s big players could win stoush over Britain’s rulebook
A UK government paper issued last week suggests Afterpay and its rivals are making headway against political pressure for a tougher regulatory regime.
- Hans van Leeuwen
March 2021
Canaccord raising for Openpay and PayGroup
Canaccord Genuity’s busy equity capital markets team had two deals in front of small cap fund managers on Tuesday.
- Sarah Thompson, Anthony Macdonald and Tim Boyd
- Analysis
- Regulation
Openpay’s remorse fuels buy now, pay later’s critics
The buy now, pay later sector’s regulation is questioned upon revelations Openpay charges customers who die default fees, as it pushes into healthcare lending.
- Tom Richardson
February 2021
Britain wields regulator’s rod on ‘buy now, pay later’ firms
Afterpay, Zip, Laybuy and CBA-backed Klarna will be required to run affordability checks on customers, who will get new rights.
- Updated
- Hans van Leeuwen and James Eyers
August 2020
Sezzle, Openpay and Splitit's numbers surge in pay-later blitz
Three more buy now, pay later providers – Sezzle, Openpay and Splitit – reported on Monday in the shadows of Afterpay and Zip, and show the ASX-listed sector is going global.
- James Eyers
Splitit raises $100 million to tap US, UK boom
Buy now, pay later company Splitit's shares have surged again, rising almost 9 per cent after announcing a major capital raise on Wednesday.
- Yolanda Redrup
Is it too late to buy Afterpay and other buy now, pay later stocks?
Some investors say Afterpay's growth trajectory justifies the sky-high valuation, yet risks are rising.
- James Eyers