PRICE 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. This is changing.
Fabio, the co-founder of FixxFi, had a career in finance, trading currency and Forex before taking over his family’s successful auto-repair business in Torino. Fabio quickly realized that auto repair costs were becoming more difficult to pay for. The business was affected by customers asking for price negotiations, payment plans or refusing to do repairs. Andrew, a serial entrepreneur and technie, met him through the repair shop. FixxFi was born.
It is a part of daily life that repairs are inevitable. Auto and home repair needs are an all-too common occurrence, but not everyone’s budget allows for these often costly events. Research shows that repairs can cause cash flow problems in a household, not only for those with low incomes.
Financial products today are limited and often have inflexible or outdated options. In order to make up for the lack of options, many repair companies are forced to offer discounts and sub-par repairs.
Today, FixxFi is a Fintech platform offering embedded financing solutions to the home and auto repair industry. Unexpected repairs can be funded quickly using both off-chain or on-chain technology.
Both customers and partners will enjoy an effortless experience with the FixxFi App. Independent repair business partners will introduce customers to FixxFi right at the time of service. Now repair partners have the ability to offer clients simple embedded financing options that will help manage unexpected expenses. The customer can now pay immediately after a quick approval.
FixxFi provides customers with a credit card that can be replenished after each payment. Customers will always have access to credit in case of an emergency. This makes it a very scalable business model. FixxFi partners will also have dedicated customers who are more likely to choose companies that provide 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 are looking for alternatives. FixxFi allows customers to customize 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. Traditional methods of financing, such as credit cards that offer limited payment options and no flexibility, are not suitable for this competitive market.
Italy and the UK have strong repair industries, making them the best markets to target for first stages. The extensive market research is done 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 will seize this opportunity and use the best technologies to address the issue.
FixxFi is a cryptocurrency platform built on Elrond Network. It offers a native currency, the FIXX token. It has the ability to both onboard new users and address their daily problems. For referring customers, you will receive discounts, on-time payments, referral bonuses, and crypto rewards. Referring customers will earn partners $FIXX and they’ll be recognized for their referrals.
This is only one perk of many Fintech alternatives. FixxFi will issue a native corporate stablecoin backed 1:1 with fiat and FixxFi’s real-world utility. A stablecoin’s practical usage has the potential of setting a new standard. It also answers the other main argument for using crypto for payments because the currency is stable and doesn’t fluctuate with the market. The lending market is open to investors, who can finance those seeking a credit line or participate in the farming and stake options.
Early investors will be issued an NFT, which is a modern version of the traditional dividend. To earn more FIXX, NFT holders will be able to stake their NFT against a certain percentage of the company’s profits.
FixxFi and other solutions will continue to make crypto more accessible. Alternate financing options and credit lines are possible first steps towards crypto-related opportunities in many businesses and reward programs.
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