What you need to know:

• Buy now, pay later player Openpay has appointed Ryvalmedia to its media account.
• Its current annual spend of $5m is set to increase as it enters a new growth phase in Australia.

Ryvalmedia has been appointed as media planning and buying agency partner for Openpay.

The account is valued at $5m with Openpay planning to increase advertising spend as it commences its next phase of growth and expansion in Australia.

In addition to multi-channel planning and buying, the scope of work will include partnership activations, performance media, social, data and analytics.

"The BNPL sector is growing rapidly, and Openpay was looking for the right strategic partner to support the next phase of growth for our business. Ryvalmedia impressed us with their expertise, balanced approach, and alignment to Openpay's values," Openpay, Head of Marketing APAC Bryan Leong, said.