Skip to content
Afterpay vs Openpay

Afterpay vs Openpay



Here at Later Gator, we are happy to announce that we have partnered up with Openpay to give you another pay-later option. While you are likely aware of Afterpay, you may be wondering what sets Openpay apart and which service is right for you. We have had a look at the two and found the key differences so that you can choose the right pay later service to work with your financial situation.

The Difference Between Afterpay and Openpay

Afterpay and Openpay are both pay-later services that allow you to make a purchase now and pay for it in instalments. There are a few key differences between the two, from fees to payment schedules, that could determine which platform is best suited to your needs. We have taken the time to highlight the differences between Afterpay and Openpay in the four major areas that impact pay-later shoppers.

Signing Up

The sign-up processes for both Afterpay and Openpay are quite similar. You can sign up for both online or in-store at participating merchants. For both, you will need to provide contact details, a credit or debit card, and identification stating you are over 18 and live in Australia. 


Fees are where Afterpay and Openpay begin to differ. Afterpay charges no sign-up fee whatsoever. It charges no interest for the full 8-week payment schedule, charging a $10 late fee when a payment is missed and a further $7 late fee if said payment hasn’t been repaid within a week. 

Openpay is more flexible with their plans, which means their fees differ from account to account. For long-term plans, you may incur a processing fee of $2.50 - $3.95, and Openpay Plus users may also incur an additional establishment fee. They also charge late fees, which will vary depending on your account.

Payment Schedules

Payment schedules are what truly set Afterpay and Openpay apart. While Afterpay has a strict, pay in four, 8 week period to pay back your purchases, Openpay is much more flexible with their repayment schedules. Their plans range up to 18 months and perhaps beyond, depending on your circumstances. What’s more, you can reschedule payments as you go to avoid late fees. 

Credit Checks

Now for the question you’re all asking; does Openpay check your credit? The short answer is yes. While Afterpay doesn’t check your credit, Openpay reserves the right to check at their own discretion. This can happen at any time, but usually, they will only take it into account if you attempt to raise your limit. For the most part, credit scores don’t seem to impact whether you can sign up for Openpay, but they may prevent you from having your limit increased.

At the base level, Afterpay and Openpay serve the same function. The differences in flexibility of payment schedule and fees could determine which suits your needs best. To find out more about how Afterpay compares to other pay-later services, check out our Blog.

Previous article Afterpay vs LatitudePay
Next article Afterpay vs PayItLater