🏛️Business Model
FixxFi's platform is where banks, businesses and consumers meet, but how exactly does it work?
There are 3 primary revenue drivers
Merchant Fees - % of loan value
Commission - % of the interest charged in each loan
License Fees - monthly subscription fee for access to platform
To become a partner, the repair business must register and enter company data into the FixxFi's app. FixxFi will carry out KYC to check the authenticity of the business. Once confirmed the repair business will be authorized to the platform and giving a unique ID#. Each repair business partner must pay the monthly License Fee of €20 to enter in the appropriate section of the app.
The customer must first complete the KYC procedure through the App to obtain approval for their line of credit. Once submitted the customer will be scored and based on the scoring an available amount will be added to their digital wallet in the FixxFi app. This can be used at any FixxFi repair business and the customer can tailor the repayment schedule to fit their needs through the FixxFi calculator.
Key Points
User friendly experience
Meets the end user needs with no hassle
Highly scalable and versatile payment solution
Continuously expanding business from-to different sectors
Rapidly growing business by network effect (ref. Metcalfe's Law)
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