QwikPay, a mobile payment platform, has commenced operations in Australia, offering a mobile-based, cardless payment system.
Founded by fintech entrepreneur Nik Bavisetti, the payment platform utilises Australia’s PayTo and PayID payment infrastructure to facilitate transactions without per-transaction fees or physical terminals.
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QwikPay 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.
The platform requires no hardware or contracts and is currently onboarding merchants and users across the country.
The service targets both small businesses and individuals.
QwikPay founder and CEO said: “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.
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By GlobalData“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.”
Bavisetti added: “This platform has the potential to shift billions of dollars back into the hands of business owners and everyday people.”
“It removes the complexity, the cost and the control held by banks and card providers and replaces it with something more powerful; choice.”
