MSL Solutions gets BNPL boost in tie-up with OpenPay for golf memberships
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The revenue-sharing arrangement will see MSL integrate onto the OpenPay platform for sales of its golf and membership products.
Shares in MSL got a boost on the news, rising over 62 per cent to an intra-day high of 13c after falling to around 2c in April. OPY also gained.
As the cohort of listed BNPL players race for market share, OpenPay has specifically targeted new verticals including education and memberships, as distinct from other channels such as retail products.
Speaking with Stockhead recently, OpenPay CEO Michael Eidel said lifestyle categories were the “next category to move strongly into”.
“We see a lot of demand for our customer base, they’re very receptive to these new areas of their lifestyles where they can use our product,” Eidel said.
On that front, the tie-up with MSL was executed on a exclusive basis, rendering it off-limits to other BNPL competitors.
The agreement will run for an initial term of three years, with revenue to be shared via an annual rebate fee paid by OpenPay to MSL based on revenue earned in the preceding year.
MSL said the BNPL service would be offered “as a payment option for member subscription fees while enhancing golf clubs’ operating cashflows”.
The company’s core offering for its golf clients is a SaaS-based subscription service that allows golf clubs to offers digital services such as a tournament management platform with real-time score updates.
MSL said the partnership with OpenPay would “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”.
Shares in cloud communications provider CommsChoice (ASX:CCG) also climbed, after the company announced an expanded rollout of its routing service for the Microsoft Teams platform.
The company said it could now offer direct routing to Japan and the Phillipines, and believed it was now “one of the first service providers, if not the first provider globally, to offer Microsoft Teams calling in China”.
With its expanded functionality across the Asia-Pacific, shares in CCG climbed by 17 per cent to a new 2020 high of 8c.