Fintech moves into the auto and home repair industries with FixxFi – press release Bitcoin News

press release. Dublin, Ireland, 8/29/2022 – One of the arguments against cryptocurrencies is, “If you can’t use a currency, what’s the point?” is that Many projects are trying to establish a utility for their takas outside of the blockchain world, but many companies do not use them or accept them. This is about to change.

FixxFi co-founder Fabio had a career in finance, currency and forex before taking over his family’s successful auto-repair business in Torino. He quickly discovered that his customers were having trouble paying for their car repairs. This has put pressure on the business as customers negotiate prices, ask for payment plans or simply not doing the repairs. He met his co-founder, Andrew, a serial tech entrepreneur, and FixxFi through his repair work.

Maintenance is an inevitable part of life. Car and home repair needs are very common occurrences, but not everyone’s budget allows for these often expensive occurrences. Repairs can have a destabilizing effect on a family’s cash flow, and studies show it’s not just for low-income people.

Current financial products are scarce and burdensome with outdated, inflexible options. As a result, repair businesses are often forced to bear lower prices or substandard repairs.

Fast forward to today, FixxFi has developed a new fintech platform that provides embedded financial solutions to the independent auto and home repair industries. Faster approval of funding for unscheduled repairs is done using off-chain and on-chain technology at the repair facility.

The FixxFi app has a seamless experience for customers and business partners. In partnership with independent repair businesses, customers are introduced to the FixxFi app at the service point. Maintenance partners can now offer simple, embedded financing solutions to support their customers and help them manage that unexpected expense. After a quick and one-time approval process, the customer now has an instant payment solution.

FixxFi offers customers a line of credit that is topped up with each payment. This creates a highly scalable business model as customers have a ready line of credit for their next unexpected repair. Additionally, businesses that choose to partner with FixxFi will have a dedicated customer base that chooses to use companies that accept lines of credit. The customer retention system has been enhanced with app options to find and schedule an authorized repair partner.

A common question is, “Why not just use a credit card?” That’s what it says. The difficulty is that credit cards can only delay payments for one month and have credit or higher limits. Customers want options! With FixxFi, customers can customize their payment options. Through FixxFi’s in-app calculator, customers select the amount of their fund they want to use and the time period for which they want to distribute the schedule from 1-60. In this new competitive financial world, traditional methods such as credit cards with limited payment options do not provide the necessary flexibility in every situation.

The strong independent maintenance sectors in the UK and Italy make these areas attractive target markets for early stages. Using extensive market research Ibis World Vehicle Repair and Maintenance According to Italian and UK reports, the total available market (TAM) of the independent maintenance market in 2021 was 57.5 billion euros. Fixxfi plans to take the opportunity to eliminate the problem by using the latest technologies available.

Built on the Elrond network, FixxFi offers the native cryptocurrency of the FIXX token. The app has the unique ability to onboard more users to crypto while solving some of their mundane life problems. Customers earn crypto rewards for on-time payments, discounts they book, and for referring other customers. Associates are rewarded for referrals and receive rebates in $FIXX for achieving loan value targets.

The ability to pay bills in crypto is only the first benefit in fintech options. FixxFi provides a native corporate stablecoin backed 1:1 by fiat and FixxFi real-world utility. This stable coin has the potential to set a new precedent for practical use. It also answers the other main argument that money is stable and doesn’t fluctuate with the market. Investors can participate in the loan market, directly looking for a line of credit or participate in stock and farm options.

It also offers NFTs to early investors. Given a percentage of the company’s profits, holders can participate in NFT to earn more FIXX.

As more solutions like FixxFi enter the market, the future of crypto becomes clearer. Alternative financing and lines of credit can be the first steps in looking at crypto-related options in many businesses and rewards programs.

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