Splitit Announces Partnership With QuickFee to Extend Impact of Its Unique Buy Now Pay Later Platform to Professional Services Industryf
Splitit Payments Ltd., a global payment solutions provider, today announced a new partnership deal with QuickFee, a leading professional services payment provider, that currently processes $300M in payments in this sector. This partnership marks Splitit’s entry into the professional services market, allowing accounting and law firms in the US and Australia to offer installment payments on their credit cards to help firms and their clients pay over time and more easily access accounting and financial advice.
As the Buy Now Pay Later space continues to expand across the globe, Splitit offers a unique solution to businesses looking to help their clients maximize the credit they’ve earned through responsible cash flow management. Similarly, QuickFee’s PayLater option provides professional service firms a way to make sure they get paid within their terms, while allowing their clients to take up to 12 months to pay their invoices, at no cost to the firm. Clients enjoy the flexibility of monthly installments over a period that suits their cash flow – and the firm gets paid up-front and in full.
“Splitit’s rapid growth in the Buy Now Pay Later space has allowed us to enter new and important markets, such as professional services, to bring the convenience and flexibility of our platform to this space,” said Brad Paterson, CEO of Splitit. “With more than 1,200 global professional service firms already using QuickFee and the opportunity to expand and target an additional 650,000 accounting and law firms in the US and Australia, we are excited to partner with the QuickFee team and work together to harness the collective power of our payment platforms to help professional services firms get paid faster, conveniently and at less cost.”
The new service will be available for QuickFee’s existing and new customers to opt-in to in the coming weeks. Splitit will be integrated directly to QuickFee’s payments portal, complementing the existing financing offering to clients and firms. The professional services firm sends its client an invoice, the client selects the interest-free installment payment option and enters their credit card details to pay in four installments.
“We are hugely excited by the new partnership with Splitit,” added Bruce Coombes, CEO of QuickFee. “Having already achieved strong acceptance amongst professional services firms with our online payment portal and existing lending solutions, this new interest free product allows QuickFee to capture a significantly greater share of the professional services market by providing payment plans to clients of smaller firms, by far the largest part of the market, that we would not normally service. Importantly, the interest free product allows professional services firms to give clients the essential advice they need. The Splitit pre-authorisation technology means there is very low credit risk to QuickFee and the professional services firm.”