Patients of Australian optometry practices that are linked with the MyHealth1st appointment booking platform now have access to a buy now, pay later (BNPL) payment option.
Melbourne-based BNPL company OpenPay recently formed a three-year strategic partnership with ASX-listed 1st Group Limited, which owns MyHealth1st. The agreement sees Openpay’s BNPL service available to patients of health practices that offer the MyHealth1st digital portal.
“The benefit to practices participating is expected to be increased basket size – that is, value of the services and products provided by practices – and increased patient bookings which together will drive revenue growth,” 1st Group stated.
BNPL companies have been introducing their services to pharmacy, optometry, dental and veterinary businesses in Australia in recent times. These markets are the focus of 1st Group, which also owns online pet service portal PetYeti.com.au and corporate and government solutions platform GoBookings.com.
Under the partnership, Openpay will market the MyHealth1st platform to existing healthcare practices within its merchant network.
The agreement will involve a phased rollout of OpenPay’s service across the MyHealth1st network. This would begin with around 60 sites in the first half of FY21 and is likely to expand further, subject to the performance of the initial phase.
Openpay will also market the MyHealth1st platform to existing healthcare practices within its merchant network. Openpay will pay for the platform functionality to be established.
1st Group and Openpay will share revenues generated from new customer generation.