MSL forms strategic partnership with Openpay
FOR IMMEDIATE RELEASE
(BRISBANE – 04 August 2020) Sports, leisure and hospitality SaaS technology provider MSL Solutions Limited (ASX: MSL, “MSL” or “the Company”) is pleased to advise that the Company has signed a revenue sharing Merchant Agreement with leading ‘buy now pay later’ (BNPL) payment solution provider Openpay Group Ltd (ASX: OPY, ‘Openpay’).
Openpay is a well-established player in the fast-growing global market for BNPL payment solutions. Openpay partners with merchants to provide repayment plans to customers in-store, in-app and online, allowing customers to purchase what they want and need while spreading repayments over time with no interest costs.
The agreement will see MSL integrate Openpay’s BNPL offering with MSL’s golf and membership products. This allows participating golf clubs to include Openpay’s BNPL plans as a payment option for member subscription fees whilst enhancing golf clubs’ operating cashflows.
The agreement will run for an initial term of 3 years and involve a phased rollout of Openpay’s BNPL offering to MSL’s Golf customers in Australia. MSL has agreed to partner during this period with Openpay on a basis that excludes Openpay’s competitors in the Australian market.
Openpay will pay for the platform functionality to be established, and the parties have agreed to revenue sharing terms which will see Openpay pay MSL an annual rebate of fees payable to Openpay during each preceding year.
MSL Solutions CEO, Pat Howard, said:
“We are proud and excited to partner with Openpay. As with all potential partners, we have carefully reviewed and selected Openpay on the strength of the quantifiable benefits that we believe Openpay can bring to our customers.
“Openpay is at the forefront of the buy-now-pay-later sector, offering a flexible product delivering attractive terms for golf clubs and their patrons. We expect this partnership to add an attractive new dimension to MSL’s golf suite of services as it allows for greater profitability and customer retention among our golf club customers.”
Openpay Chief Commercial Officer, Dion Appel, adds:
“Openpay prides itself on creating partnerships that support our customer network; merchants and, in this case, members. MSL is one of the leaders in the golfing and hospitality industry. We are proud to announce this exclusive partnership that will enable a smarter way for hundreds of golf clubs on MSL’s platform to offer Openpay’s buy now, pay later for the purchase of golf memberships.
MSL has been an innovator in the golfing industry and we are pleased to have been selected to further solidify its position as an industry leader.”
About MSL Solutions Limited
MSL Solutions Limited (ASX: MSL) is a SaaS technology provider which operates in the sports, leisure and hospitality sectors. Some of the world’s most iconic stadium and large event venues, sports and entertainment companies and Profession Golfers’ Associations (PGAs) rely on MSL Solutions every day. We create the systems that connect every department of a business, from point of sale and membership to marketing, providing real time visibility on staff levels, customer engagement, profit and revenue.
MSL Solutions has over 1,220 customers with offices in Australia, UK and Denmark. To discover more about MSL, please visit www.mpowermsl.com