Openpay Group Ltd (ASX: OPY) has signed a partnership agreement with Ford Motor Company of Australia Limited.
Under the partnership, Ford Australia will offer the Openpay Buy Now, Pay Later (BNPL) solution to its dealership network across Australia to support customer car servicing needs (repairs, parts, and accessories).
Managing Director and CEO, Michael Eidel, said that Openpay can now be introduced and available to Ford Australia customers at every point on the customer journey via booking engines, online and instore visibility.
We are proud to have signed with a brand as iconic as Ford Australia. Through this partnership we will be working together to help Ford’s customers ‘go further’ – making greater payment flexibility available for all their car servicing needs,” Mr Eidel said.
“We have previously partnered with many dealership groups but partnering at the OEM level strongly cements our leadership position in the automotive vertical.”
Mr Eidel said the agreement with Ford Australia is a major milestone in addition to Openpay’s exclusive partnership with Pentana Solutions Pty Ltd, the leading provider of Dealer Management Software (DMS) in Australia, which went live in February 2021.
Roughly 2,500 new car franchise dealerships across Australia – or 60% of Australia’s new car franchise dealerships such as Eagers Automotive, Inchcape, and Peter Warren use Pentana’s eraPower DMS which gives dealerships a seamless platform to manage their entire operations.
Mr Eidel said Openpay will continue to focus on further partnerships with leading OEMs, distributors, and importers in the automotive sector to further entrench itself as a market leading Buy Now, Pay Later provider in the Automotive vertical.
