Australia's Openpay strikes BNPL partnership deal with American Express

Dec 2 - Openpay Group Ltd $Oppenheimer Holdings(OPY.US)$ will allow American Express $American Express(AXP.US)$ card holders to fund their purchases with its buy now, pay later $PayPal(PYPL.US)$ services, the Australian company said on Thursday.

Openpay said the initial partnership would focus on about 40 American Express merchants in the healthcare and automotive sectors interested in offering Openpay's BNPL plans.

The BNPL sector has seen considerable growth in recent months since consumers began funding online shopping with short-term borrowing during the COVID-19 pandemic.