Patients undergoing elective surgery will have the option of delaying payments for operations under a new arrangement targeting those who have dropped their private health insurance. It has prompted warnings the move could be financially risky.
Openpay puts “shocking” death clause to rest
Openpay puts “shocking” death clause to rest
17 March 2021 5:10AM
Fiona Guthrie: Openpay and hospitals BNPL puts sick people at risk of financial harm
Controversial buy now pay later provider Openpay has caved-in to public fury over its credit contracts, saying it will amend its terms and conditions to exclude death as a default event.
Sydney-based payments experts Christos Fragias and Bradford Kelly floated concerns in Banking Day on Tuesday about Openpay’s death clause after the company announced it planned to fund customers for medical treatment in private hospitals operated by St John of God Health Care.
Openpay (ASX:OPY) share price drops despite positive announcement
James Mickleboro | March 15, 2021 10:16am |
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Openpay Group Ltd(ASX: OPY) share price is under pressure on Monday despite the release of a positive announcement.
In morning trade the buy now pay later (BNPL) provider’s shares are down 3% to $2.56. This follows further weakness in the tech sector.
What did Openpay announce?
This morning Openpay announced that it has entered into the Australian hospital segment via a partnership with St John of God Health Care. It is one of Australia’s largest Catholic providers of healthcare services, with hospitals in Victoria, New South Wales and Western Australia.
The terms and conditions of buy now pay later provider Openpay are coming under scrutiny from payments experts after the company revealed it was adding a major private hospital network to its list of approved merchants.