Most frequent questions and answers
Your client will access the QuickFee Instalments portal via the payment button you have been provided by your account manager. From there they will follow extremely simple prompts that should take no more than 2 minutes (we’ve timed it).
QuickFee charges the service provider 4.99% + GST of the total invoice amount.
There are no late fees. As the full amount of the invoice is preauthorised, there is no risk of late payments. The sophisticated preauthorisation technology ensures this.
QuickFee Instalments leverages the unused limit of your client’s existing credit card eliminating the need for any credit checks. In conjunction, the payment plan will not appear on the client’s credit file.
There is no limit to how many of your current and future clients can use QuickFee Instalments.
This product can be offered to clients of any business where an invoice is produced.
If a card is lost or stolen, the client’s account needs to be updated with an alternative credit card. They were issued with user credentials for a self-service client portal when their payment plan was approved, enabling them to make changes to their payment information (e.g. registering a different credit card or updating expiry date).
However, even in this scenario, the total invoice amount has already been pre-authorised and payment will be honoured by the financial institution.
Our system is set up for 4 monthly payments as this allows your clients the maximum cashflow benefit.
It’s even easier than that. Just start a new payment plan. A client can have several payment plans running simultaneously provided the credit card being used has the required credit limit available.
Get creative! For example, you can let your client pay half/part of your invoice in full, and the other half/part with QuickFee Instalments. That way, they don’t entirely miss out on the cashflow benefits QuickFee Instalments provides.
If you have a client that would like to put their invoice on a payment plan but does not meet the eligibility criteria, talk to your account manager to see if one of QuickFee’s other products might be suitable.
Yes. They were issued with credentials for a self-service client portal when their payment plan was approved so can use that to pay out early.
Clients can pay earlier but not later. As a fixed price product with no late penalties etc, no deferral is possible and with the preauthorisation no deferral is needed.
Under the QuickFee merchant agreement, the merchant is liable for chargebacks (including payment plans entered using stolen credit cards).
It is expected given the nature of the professional service firms offering QuickFee Instalments that merchants will know their clients and have sufficient personal information about them to be comfortable that any such fraud is extremely rare given the nature of accounting and/or legal advice. Moreover, clients should be highly traceable given the personal details a service provider will have on their clients.
The risk of stolen credit card usage for QuickFee Instalments is envisaged to be extremely low, substantially lower than in retail. Out of all the transactions criminals could enter with a stolen credit card, entering a payment plan for professional services is deemed extremely low risk.
Historically, for QuickFee’s pay in full credit card offering, we have only had stolen credit card claims arise less than once per year and these have always been family disputes (e.g. partner claiming significant other used card without permission as a form of revenge).
Note that the risk of stolen credit cards remains an issue if firms simply offer pay in full credit card payments (i.e. not payment plans).
QuickFee has no way of knowing if a service has actually been provided/delivered to a client. Chargebacks and disputes are substantially less common than in retail. In the unlikely event a client contacts their card issuer to dispute the charge to their card, QuickFee will be required to exercise its Chargeback right for the outstanding amount as per Clause 4 in the terms & conditions. This is no different to what would happen if a client paid a service provider in full via their credit card.
If a cardholder goes into liquidation, any debt incurred, or charge made to a card, prior to liquidators or receivers being appointed, is legally binding and would form part of the financial position of the cardholder that the liquidator assesses.
Any pre-authorisation will be charged in full if the card is cancelled, stopped or frozen by the liquidator, as it would be if the cardholder themselves cancelled the card. The balance of the credit card statement, which would include the charged-in-full pre-authorised amount, would still be owed to the bank; the payment of the credit card statement would be a matter for the liquidator to manage with the bank.
Foreign issued Visa and Mastercards should work no differently than an Australian issued card. The only limiting factor would be an overseas bank blocking a transaction in the same way Australian banks are more likely to block foreign card use as a fraud prevention measure.