Fun

Fintech Makes Moves Into the Auto and Home Repair Industries With FixxFi

News Feed - 2022-08-29 08:08:36

Fintech Makes Moves Into the Auto and Home Repair Industries With FixxFi press release


PRESS RELEASE. Dublin, Ireland, 8/29/2022 – One of the arguments against cryptocurrencies has been, “What’s the point of having a currency if you can’t use it?” While many projects are trying to establish utility for their tokens outside the world of blockchain, not many companies use or accept them. That is about to change.


Fabio, the co-founder ofFixxFi, had a career in finance, trading currency and Forex before taking over his family’s successful auto-repair business in Torino. He quickly discovered that customers increasingly had difficulty paying for their auto repairs. This put a squeeze on the business as customers would negotiate prices, ask for payment plans, or just not do the repair. It was through his repair business that he met his co-founder, serial tech entrepreneur Andrew, and FixxFi was created.


Repairs are an inevitable part of life. Auto and home repair needs are an all-too common occurrence, but not everyone’s budget allows for these often costly events. Repairs can have a destabilizing effect on household cash flow, and research shows it does not just affect low-income earners.


Current financial products are lacking and burdened with outdated, inflexible options. As a result, repair businesses are often forced to take up the slack with discounts or sub-par fixes.


Fast forward to today, FixxFi has developed an innovative Fintech platform that provides embedded finance solutions for the independent auto and home repair industries. Funding for unexpected repairs will happen with a quick approval process that occurs right at the repair facility using off-chain and on-chain technology.


The FixxFi app has a seamless experience for both customers and business partners. By partnering with independent repair businesses, customers will be introduced to the FixxFi app at the point of service. Repair partners can now offer simple, embedded financing solutions to support their clients and help them manage that unexpected expense. After a fast, one-time approval process, the customer now has an immediate solution to pay.


FixxFi offers customers a credit line that is replenishable with each payment. This creates a highly scalable business model as customers will have a line of credit ready for their next unexpected repair. In addition, businesses that choose to partner with FixxFi will have a dedicated customer base that prefers to use companies that accept the line of credit. The customer retention system is enhanced by the app’s options to locate and schedule with an approved repair partner.


A common question is, “Why not just use a credit card?” The difficulty is that credit cards only delay payment by a month and are subject to having available credit or high-limits. Customers want alternatives! With FixxFi, customers can tailor their payment options. Through FixxFi’s in-app calculator, customers choose the amount of their fund that they want to use and the duration in months from 1-60 they want to spread the schedule over. In this new competitive world of finance, traditional methods like credit cards with limited payment options do not offer the flexibility needed in every scenario.


The strong independent repair sectors in the UK and Italy make these areas the target markets with the greatest demand for initial stages. Extensive market research using the Ibis World Vehicle Repair and Maintenance reports for Italy and the UK shows that the total available market (TAM) of the independent repair market in 2021 was €57.5 billion. Fixxfi plans to seize the opportunity to chip away at the problem by using the latest technologies available.


Built on the Elrond Network, FixxFi offers a native cryptocurrency, theFIXX token. The app has the unique ability to onboard more users into crypto while solving some of their regular life problems. Customers will also receive crypto rewards for on-time repayments, discounts for being holders, and for referring other customers. Partners will be rewarded for referrals and receive rebates in $FIXX for achieving loan value targets.


The ability to pay bills with crypto is just the first perk in a long line of Fintech options. FixxFi will issue a native corporate stablecoin backed 1:1 with fiat and FixxFi’s real-world utility. This practical use of a stablecoin has the potential to set a new precedent. It also answers the other main argument for using crypto for payments because the currency is stable and doesn’t fluctuate with the market. Investors can also participate in the lending marketplace, directly financing those looking for a line of credit or participating in the staking and farming options.


An NFT will also be issued to early investors that offers a modern take on the traditional dividend. Benchmarked against a percentage of company profits, holders can stake their NFT to earn more FIXX.


As more solutions like FixxFi enter the market, the future of crypto becomes more clear. Alternative financing and lines of credit are potentially the first steps in seeing crypto-related options in a host of businesses and rewards programs.


PR Contact:


andrew.dunne@fixxfi.com

+353864555678


https://twitter.com/FixxToken


https://fixxfi.com


https://discord.fixxfi.com


 


  Tags in this story FixxFi


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. Media


Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options. Gala Games Announces Launch Date for Spider Tanks PRESS RELEASE | 14 mins ago Singapore Considers Stricter Rules for Retail Crypto Investors — Regulator Says Cryptocurrencies Are "Highly Hazardous" REGULATION | 1 hour ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCrypto ATM Company Bitbase Prepares to Open Operations in Venezuela This Year Next articleArgentinian Province Mendoza Starts Accepting Tax Payments in Crypto More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days


Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Fed"s Bullard Wants to Raise Bank Rate to 3.5% by Year"s End, Hints at 75 Basis Point Rate Hike FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Iran to Increase Penalties for Unauthorized Cryptocurrency Mining

News Feed

XRP Price Battles Key Hurdles: Can Bulls Prevail?
Este artículo también está disponible en español. XRP price corrected some losses and climbed above the $2.25 zone. The price is now struggling to clear the $2.350 resist
Brazil poised to launch world’s first spot Solana ETF ahead of global markets
Zoltan Vardai11 hours agoBrazil poised to launch world’s first spot Solana ETF ahead of global marketsAccording to IBM’s former blockchain growth lead, a potential Solana ETF approval in the US could act as a signifi
Standard Chartered Bank Enters the Metaverse
Standard Chartered Bank Enters the Metaverse Standard Chartered Bank has become the latest major bank to enter the metaverse. The bank has acquired “virtual land at The Sand
Bitcoin Volatility Hits 6.5-Month Low as Price Falls Back to $8,000
View Bitcoin has dropped by $300 in the last 24 hours. Even so, the outlook remains neutral as key Fibonacci retracement support at $7,850 is still intact. Bitcoin’s volatility gauge has dropped to the lowest level
Ava Labs Partners With Amazon Web Services to Accelerate Blockchain Adoption, AVAX Jumps 16%
Ava Labs Partners With Amazon Web Services to Accelerate Blockchain Adoption, AVAX Jumps 16% Ava Labs, the team behind the layer one (L1) smart contract platform network Avalanche,
Bitcoin reaches one billion transactions
Brayden Lindrea21 minutes agoBitcoin reaches one billion transactionsAn average of 178,475 daily transactions have been made on Bitcoin in its 5,603 day existence.178 Total views1 Total sharesListen to article 0:00NewsOw
HSBC Acquires Silicon Valley Bank UK — Sale Facilitated by Government, Bank of England
HSBC Acquires Silicon Valley Bank UK — Sale Facilitated by Government, Bank of England The British government and the central bank, the Bank of England, have facilitated a privat
Jesse Coghlan8 hours agoHidden as colors, crypto seed phrases could hide in plain sight, says devSpeaking to Cointelegraph, Entero Positivo argued typical seed phrase storage methods are too obvious, so he devised a way
Central Bank of Brazil Director Praises Bitcoin as a Financial Innovation, Talks Programmable Digital Real
Central Bank of Brazil Director Praises Bitcoin as a Financial Innovation, Talks Programmable Digital Real Fabio Araujo, Director of the Central Bank of Brazil, has praised the pro
Bitcoin Price Restarts Its Climb: Is The Rally Back On?
Este artículo también está disponible en español. Bitcoin price started a fresh increase above the $62,000 resistance zone. BTC is now consolidating and might aim for mor
SEC’s Gary Gensler gets irked being asked about crypto
Jesse Coghlan6 hours agoSEC’s Gary Gensler gets irked being asked about cryptoSEC Chair Gary Gensler says he gets an “outsized ratio” of questions about crypto despite its relatively small size compared to the over
Analyst Confirms Ethereum Golden Cross As ETH Surges Past $4,000 – Is Altseason In Sight?
Este artículo también está disponible en español. Ethereum (ETH) surged past $4,000 earlier today for the first time since March 2024. Having surpassed a key price level