Ryvalmedia has been appointed as media planning and buying agency partner for Openpay following a lengthy and competitive agency review. Openpay is planning to increase advertising spend as it commences its next phase of growth and expansion in Australia.
In addition to multi-channel planning and buying, the scope of work will include key partnership activations, performance media, social, data, and analytics with the appointment, formally commencing last month.
Openpay, a global payments fintech with operations in Australia, New Zealand, the UK, and the US, provide consumers with a differentiated ‘Buy Now, Pay Later’ (BNPL) solution. Offering longer length, higher value payment plans across retail, health, home improvement, automotive, education, and membership, Openpay is a smart budgeting tool for financially savvy consumers and delivers the most flexible plans in the market. Openpay also has a unique B2B SaaS end-to-end invoice management solution called OpyPro.
The BNPL sector has ballooned in recent years with the Reserve Bank of Australia estimating that transactions grew by around 55 per cent in 2019/2020, and tripled in the previous two financial years.
Managing Director Joseph Pardillo said, “The Ryvalmedia team are delighted to welcome Openpay as our partner and play an intrinsic role in helping Openpay change the way people invest in goods and services more flexibly. Working alongside such sophisticated fintech-based organisations is challenging and complex but rewarding in a world where customers want much more frictionless and contactless experiences from brands and businesses.
As the use of alternative payment solutions at the checkout increase, the uptake of the BNPL model should also follow suit and is fast becoming a value-exchange customers are expecting from financial lenders when making purchases in the new economy.”
Openpay, Head of Marketing APAC Bryan Leong, said, “The BNPL sector is growing rapidly, and Openpay was looking for the right strategic partner to support the next phase of growth for our business. Ryvalmedia impressed us with their expertise, balanced approach, and alignment to Openpay’s values. As we change the way that people pay, for the better, we are excited to have Ryvalmedia on board for this journey.”