Most average Australian households would struggle to pay more than $2,000 for unexpected but necessary services such as urgent home and vehicle repairs or dental work, according to a new Australian Household Threshold report.

Consumer credit growth is being quickly matched by the spike in popularity of buy-now-pay-later among Australian consumers, as inflation rises and the cost of living hits households but regulations may be limiting the trend.

“While there are payment methods that provide consumers with availability to meet their wants such as new clothes, there is also a significant need for solutions that cover higher value unexpected and essential costs and help mitigate their impact on household budgets.

“To help address these issues, we are now offering a custom solution for franchise businesses providing homeowner services, allowing consumers to access flexible payment plans over four, six, nine or 12 interest-free instalments.”

Sydney start-up QuickFee has completed a $4.0 million capital raising and just launched a $500,000 share purchase plan to fund its growth plans and “achieve profitability”.

Australian-listed payment solutions and service firm QuickFee has announced the successful completion of a $4.0 million share placement at an issue price of $0.10 cents per share to strategic, institutional, sophisticated and professional investors in a “strongly supported” capital raising.

QuickFee have announced the successful completion of a A$4.0 million share placement at an issue price of A$0.10 per share to strategic, institutional, sophisticated and professional investors in a strongly supported capital raising. The placement was supported by new and existing institutional, family office and sophisticated investors.

• QuickFee (QFE) launches a capital raise program to raise $4.5 million for further growth to achieve profitability
• The money will be used to increase scale in the US market, enhance its products, and to cover the costs associated with the capital raise
• The company has completed a placement, raising $4 million through issuing 40 million shares at 10 cents each
• In addition, QFE is seeking to raise $500,000 through a share purchase plan (SPP), issued on the same terms as the placement.
• Shares are trading flat today at 10 cents each

• Earlier this year, payment solutions provider, QuickFee expanded its business to support franchises with a new buy now pay later (BNPL) solution, on the back of a partnership with Jim’s Group.

  Now QuickFee has announced a deal with Bob Jane T-Mart, which has 30 stores around the country, allowing Jim’s franchisees to purchase tyres for their vehicles on a Jim’s payment plan.

ASX-listed fintech, QuickFee, has launched its proprietary merchant acquiring and payment processing platform, QUBE, and is starting to reap benefits from it.

QuickFee provides online payment solutions and loan origination offerings to professional, commercial and personal services providers. It operates in the United States and Australia.