Openpay announces Ideal World as its latest retail signings
- The UKs fastest growing ‘buy now, pay later’ payment solution, adds leading multi-channel retailers to its merchant portfolio
- Part of Ideal Shopping Direct Ltd, Ideal World and Create and Craft are available online and through several broadcast providers including Sky, ITV, Virgin and Freeview
- Ideal World offers a range of general merchandise from everyday products for the home through to health and technology goods. Create and Craft offers a wide range of craft and art accessories
- New signing means thousands of UK customers will now be able to benefit from Openpay’s interest free flexible payment plans which encourage responsible spending
- Having launched in the UK earlier this year, Openpay continues its mission to change the way people pay for the better
London, November 2019 – Openpay, the UK’s fastest growing ‘buy now, pay later’ payments solution, has today announced its latest partnership with Ideal World and Create and Craft, part of Ideal Shopping Direct Ltd, some of the UK’s most dynamic multi-channel retailers.
Continuing its growth in the UK, this marks Openpay’s first multi-channel retail signing and will give thousands of customers the opportunity to benefit from the fintech’s flexible interest-free buy now, pay later plans. Selling a range of general merchandise from household goods to technology craft materials, the franchise’s customers will now be able to select from a number of Openpay purchase plans – over five, eight and 11 months. The new offering is currently available to online customers only, but the partnership is expected to expand to TV consumers too in the near future.
Whilst flexible spending forms part of the fintech’s key proposition, customers will still be required to pay an initial down payment at the point of purchase, helping encourage responsible spending and minimising returns.
By encouraging shorter and more realistic lending plans, Openpay is continuing to empower sensible purchasing behaviour and offer consumers greater control over their borrowing.
Andy Harding, UK Managing Director of Openpay, said: “Moving into the broadcast retail space is a new area of the market for Openpay and Ideal World’s multi-channel approach is an exciting proposition for us. We are pleased to be able to offer their customers another transparent, more flexible way of paying for things, especially big-ticket items that can now be spread over a longer period.”
Jamie Martin, CEO at Ideal Shopping Direct, commented: “We are always looking at ways to improve out customer experience and help to make purchasing easier, and so partnering with Openpay was a logical choice for us. Their systems and mechanisms were easy to integrate with our own and we are looking forward to working with the new technology to boost our business growth into 2020.”
Openpay launched in the UK earlier this year, following a record period of growth in Australia. The company is set announce even more retail partners in the coming months.
Founded in 2013 by retailers, for retailers, Openpay is a next generation buy now, pay later, payment solution that helps customers responsibly manage their purchases. The mission of the customer centric company is to change the way people pay for the better, offering a flexible alternative to expensive overdrafts and credit cards. In 2019, the privately-owned fintech announced its international expansion by entering the UK, its first market outside of Australia and New Zealand.
Following an initial payment at the time of purchase, customers can spread payments into equal monthly instalments over a 2-3 month plan as standard but with some plans allowing up to an 11 month payment period. Customers can then align future payments with their pay cycle helping them manage their finances more easily. Customers pay no interest ever and there are no hidden fees. Sign-up is quick and easy, with customers able to purchase through Openpay in up to 90 seconds.
For more information about Openpay please visit: www.openpay.co.uk
About Ideal Shopping Direct
Ideal Shopping Direct Limited is one of the UK’s leading multi-channel home shopping retailers, selling via its TV channels and the internet. It is a vibrant company with a team of 600 based in Peterborough selling a range of general merchandise; everything from products for the home and garden to kitchen and technology through to health and beauty and craft buys. Its flagship TV channel is Ideal World (Sky, Freeview, Freesat and Virgin) supported by three other channels – Create and Craft (Sky, Freeview and Freesat), Ideal Extra and Create and Craft Extra (Sky/Freesat). In July 2018, the business was acquired by Aurelius Alpha Limited, a subsidiary of Aurelius Equity Opportunities.
About Ideal World
Ideal World is part of the Ideal Shopping Direct Group and is the company’s flagship channel. Ideal World is the home of TV shopping offering hundreds of brands across categories including fashion, beauty, home, garden and technology. UK customers access Ideal World via Freeview channel 22, Sky channel 664, Freesat 812, Virgin 747 or via www.idealworld.tv/
About Create and Craft TV
Create and Craft, part of the Ideal Shopping Direct Group - the No1 direct retailer in craft in the UK - is an award-winning multi-channel craft retailer. Create and Craft broadcasts live on TV and online in the UK and US to more than 70 million homes. It offers paper craft, jewellery, sewing, cake decorating and knitting products. Create and Craft won GOLD in seven categories at the 2016 International Craft Awards including Best TV Shopping Channel for Crafts, Best for Quality, Best for Customer Service, Best Website and Best Online Shop.