ezyVet and Openpay enter strategic partnership to extend pay
AUCKLAND, New Zealand, Sept. 4, 2020 /PRNewswire/ -- Thanks to a new partnership between 'Buy Now Pay Later' (BNPL) payment provider Openpay (ASX: OPY), and veterinary software provider ezyVet, pet owners can now spread the cost of their vet bill interest-free over time, with the vet practice getting paid in full immediately. Vet practices can generate more business and no longer need to juggle the patient's needs, the pet owner's pocketbook, or their conscience.
ezyVet is a well-established and innovative cloud-based practice management software used by vet practices globally, with considerable market penetration throughout Asia-Pacific. Openpay was established in Australia in 2013 as a payment technology company.
Openpay Head of Health, Nick Grant notes, "We've seen the Vet industry adapt quickly to recent COVID challenges, and we know removing the financial barrier to treatment supports both Vets, and most importantly their patients. ezyVet is a leader in the veterinary software industry and we are proud to announce this partnership."
The integration between ezyVet and Openpay enables pet owners to sign up and be approved for credit within 90 seconds. A new plan is processed in the practice via the customers Openpay app or web portal. Openpay guarantees payment to the practice the next business day, and the pet owner pays off the remaining installments to Openpay over the selected payment term.
According to ezyVet CFO Pete Brown, "when it comes to healthcare and economics, timing is everything. If your dog gets sick you need money fast. This partnership supports our company philosophy. Let the Vets do their job and leave the admin to ezyVet".
Abby Cotton, Practice Manager at Greenhills Veterinary Hospitals has successfully piloted the integration. "We have been able to treat more patients in the clinic as we have provided a fast and more streamlined financial support service for our clients. The integration allows us to provide a payment plan for our clients that supports both them and our clinic, without having to carry the burden of debt collecting."