The midfield duo joined the Bantams during the summer transfer window and have become integral players at the League One club.
As with most season long loan deals, there is a break clause in both agreements that would allow Town to recall either player next month. Payne, for instance, was last season recalled from a loan at Oxford United in January to join Blackburn Rovers.
A repeat, however, seems unlikely due to Wagner revealing how pleased he has been by both O’Brien and Payne’s progress at Bradford.
“We are absolutely happy with these loans,” said the Terriers chief. “How both of them are fully involved.
“We wish them all the best and that they can continue getting wins like last weekend. We follow them closely. That is our job. Hopefully, they can earn some further points for their football club in the future.”
O’Brien has been a revelation since moving to Valley Parade and is already a leading candidate to be Player of the Year despite arriving at the League One club with no previous senior experience.
Wagner added: “Lewis has made the next steps with this loan, playing competitive football in League One. At a big League One club. I am happy with the steps he has taken so far.”