Mobile Payment Platform QwikPay Launches in Australia with Subscription Model and No Per-Transaction Fees

QwikPay, a mobile payment platform, has launched in Australia, offering a cardless payment system utilizing PayTo and PayID infrastructure. Merchants pay a flat monthly fee starting at A$39.99 ($26) for unlimited transactions via smartphones with real-time confirmation. The platform aims to shift billions of dollars back into the hands of business owners and everyday people, removing hidden costs and fees held by banks and card providers.

QwikPay, a newly launched mobile payment platform in Australia, is set to revolutionize the way businesses and individuals handle transactions. Founded by fintech entrepreneur Nik Bavisetti, QwikPay leverages Australia’s PayTo and PayID payment infrastructure to facilitate cardless payments without per-transaction fees or physical terminals [1].

The platform operates on a subscription model, with a flat monthly fee starting at A$39.99 ($26), allowing merchants to process unlimited payments via smartphones with real-time confirmation. This subscription-based model eliminates the need for hardware or contracts, making it accessible to both small businesses and individuals [2].

QwikPay’s primary goal is to shift billions of dollars back into the hands of business owners and everyday people by removing hidden costs and fees traditionally held by banks and card providers. Bavisetti stated, “QwikPay gives power back to businesses and removes the invisible tax that Australians have been paying every time they buy a coffee, get a haircut, or pay a tradie. This isn’t just a better experience; it’s a better system that puts money back into the pockets of businesses, giving them access to their funds instantly. They can withdraw any time. No hidden costs or fees” [1].

The platform is currently onboarding merchants and users across the country, targeting a wide range of businesses and individuals. QwikPay aims to simplify the payment process, reduce complexity, and provide a more efficient and cost-effective solution for transactions.

References:
[1] https://finance.yahoo.com/news/mobile-payment-platform-qwikpay-launches-121232336.html
[2] https://www.electronicpaymentsinternational.com/news/payment-platform-qwikpay-australia/