For many Australians, BNPL has become a common way to purchase anything from physical goods to medical treatments and dental.

A study with Mozo found that 5.8 million Australians have a BNLP account and the number is growing. 

Over the last couple of years there have been many Buy Now Pay Later platforms, but it is important to understand which option to choose from a business perspective. This is so you can avoid any unnecessary fees and charges as well as making sure you are getting paid on time so you have a consistent and reliable revenue stream. Some important things to consider are: 

Is it PCI Compliant? 

With MyHealth&Beauty our payment plans are. The digital financial systems used are compliant with Payment Card Industry Data Security Standards (PCI). This is an important thing to check so you know your clients data security is taken seriously. 

Is it a trusted financial service?

MyHealth&Beauty holds its own Direct Debit User Licence and complies with the Australian Payments Network Bulk Electronic Clearing System Procedural Standards as a trusted Financial Services Provider.

Is it fully licenced? 

We hold an Australian Financial Services License (AFSL #509400) provided by the Australian Securities and Investment Commission (ASIC). MyHealth&Beauty is an authorised representative of PayVantage Capital. 

Is it under Corporate Governance?

Each year since 2003, MyHealth&Beauty is independently audited to ensure good corporate governance to meet our responsibilities as a Financial Service Provider and continually support your practice in a safe and trusted way. 

How does it work? 

1. Present a suitable treatment plan to your client and start a new payment plan. 
2. Decide on the Payment Plan details with your client, including the deposit, amount and frequency of payments. 
3. Submit the completed form to MyHealth&Beauty to establish the Payment Plan. 
4. Begin the treatment, with payments commencing to your clinic. 

If you are a client looking to try one of our payment plans through MyHealth&Beauty, here are some of the amazing benefits: 

Avoid paying interest 

One of the biggest reasons you should choose BNPL over a credit card is to avoid paying interest. 

Minimal fees 

We don’t charge fees. Of course in the case of late payment, there will be a charge. But other than that you will be paying only the price of the product or treatment. 

It suits your pay cycle 

With MyHealth&Beauty you can choose the frequency of making your repayments. This could be on a weekly or fortnightly basis, depending on what suits you. 

Handle large purchases

Do you really want a treatment done, but can’t afford to splurge all at once? If you want a treatment or procedure done without having to save up, we can break down the cost in instalments that suit you. This allows you to stay within your budget and stay on track with your necessary payments. 

MyHealth&Beauty provides an innovative and simple payment plan solution that is specifically designed for clinics in the health and beauty industry providing all types of health and beauty procedures. From beauty to cosmetic surgery clinics, to skin and laser treatment, our payment plan solution will work for you. We provide a fully managed payment plan solution that will grow your clinic and have your clients saying yes to your procedures straight away.

We work with more than 2,000 clinicians in over 1,200 clinics, providing payment plans to thousands of clients each month to help them reach their health and beauty goals.

FAQ

Can we collect less or greater deposit of 20%? 

20% deposit is the minimum required for the patient to pay initially. You can request a greater deposit if you wish.

Can clients make lump sum payments?

Patients can make lump sum or additional payments directly to the practice or MyHealth&Beauty. If the patient has made the payment directly to the practice – please notify us ASAP so we can apply the payment accordingly to their account.

There are no fees or penalties involved in this.

Can the client payout their MyHealth&Beauty early? Are there any fees or penalties involved? 

Patients can pay out their MyHealth&Beauty Payment Plan at any point. They can finalise their account directly to the practice or to MyHealth&Beauty. If they wish to pay their account to the practice, please phone our office prior to receive the correct balance from MyHealth&Beauty.

There are no fees or penalties involved in paying out early.

How do I complete a MyHealth&Beauty Amendment Form? 

• Patients have the option to increase their term keeping their current instalments as they are. Otherwise, they can keep the term the same, increasing their instalments.
• There is a $19 Amendment Fee charged to the patient for any increases.
• A fee of 3.9% will be charged to the practice for the increase, calculated at the amount after deposit has been collected for the addition.