Australia, Queensland
Australian CSF Offer
Fintech
Reasons to Invest
- Exclusive Discounts and Rewards
Customers earn 1 Qwik Point for every $1 spent using the Scan-to-Pay method. Points can then be redeemed for products or converted to QwikPay Money. - App Development Completed
Developed a fully secure app for iOS and Android, currently onboarding initial businesses, followed by first adopter users in early 2025. - Surging demand
50 businesses have already joined our Gold Coast waitlist in just 10 days, proof that there is a growing demand for alternative payment methods. - Regulatory Readiness Achieved
Obtained all necessary legal approvals to ensure a compliant market entry. - Go-to-Market Readiness
Finalised and tested the platform’s core features to provide seamless user experience and prepare for scaling post-launch. - All-in-one application
Innovative future application, with a range of features in development, including bill payments, loans, insurance, and investments.
The Problem
In a post-COVID world with challenges of rising inflation, businesses are increasingly looking for ways to reduce expenses. One approach has been passing transaction fees onto customers, as businesses aim to protect their profit margin.
Traditional EFTPOS systems exacerbate this issue by charging businesses per transaction, in addition to a monthly rental fee for the hardware. Since the primary payment methods rely on debit and credit cards issued by Visa, MasterCard, Amex, and others, customers are compelled to bear the burden of these surcharges.
Let’s look at an example:
For a business owner to offer eftpos payment, there is a 1.2% - 1.4% fee per transaction. Plus, a terminal fee which can start at around $24.75 per month.
For a consumer, this 1.2% - 1.4% fee adds up quickly. In Australia alone, these transaction fees cost up to $1.5 billion dollars annually.
We need a new alternative payment system beyond traditional debit and credit cards. With cash withdrawals now also being charged, Nik Bavisetti, Founder of QwikPay knew there had to be a better solution.
Our Solution
QwikPay's mission is to eliminate transaction fees, offering a seamless, cost-effective solution for businesses and consumers alike. We plan to redefine how payments and financial transactions occur with no more card surcharges.
Present Status
QwikPay is currently in the testing phase of our mobile application with a roadmap to launch on iOS and Android in early 2025, onboarding businesses first, followed by users. Funds raised through this Equity Crowdfunding campaign will be used to launch strategic customer onboarding initiatives and rewards programs to accelerate growth and increase user engagement.
With defined advantages over the current market incumbents we’re excited to launch in 2025 and pursue our long term mission of becoming Australia's leading platform for all financial services.
We envision QwikPay as the primary payment method for businesses of all sizes, whether for in-store, online, or mobile transactions, helping businesses save on traditional transaction fees.
Market Opportunity
The Australian Mobile Point of Sale (POS) market is projected to grow at a Compound Annual Growth Rate (CAGR) of approximately 15.3% from 2024 to 2030, driven by small and medium enterprises adopting mobile POS solutions to streamline operations and reduce costs.
The overall market size of POS is expected to surpass AUD 1.8 billion by 2028, compared to its value of approximately AUD 1.1 billion in 2022. This growth is fueled by increased digitalisation, the adoption of cloud-based POS solutions, and the shift towards cashless transactions​.
In Australia alone there are over 2.5 million small businesses and with just 0.1% penetration within that market would result in 2,500 small businesses implementing our technology.
Business Model
How does QwikPay work:
For Businesses, QwikPay provides a seamless and secure way to process transactions with no monthly minimum and no transaction fee. This means businesses can cut out the surcharge and save more on processing fees each year. Once registered, merchants can simply download the QwikPay Merchant app, log in, and start accepting payments— no need for costly additional hardware!.
For customers and consumers, simply set up an account, and scan to pay at the checkout to process the transaction!
QwikPay will also offer incentives and reward programs for purchases made on the platform with customers earning 1 Qwik Point for every $1 spent using the Scan-to-Pay method. Points can then be redeemed for products or converted to QwikPay Money (an in-app currency used to purchase products).
Revenue Model:
QwikPay will generate revenue from multiple streams, ensuring a diverse and sustainable income. The key revenue streams for QwikPay include:
Monthly Subscription from Business Owners:
QwikPay will charge businesses a monthly subscription fee for access to the platform. This will include a variety of services such as transaction processing, wallet integration, and analytics. Businesses will pay a fixed fee for these features, and the pricing model can be adjusted based on the scale of the business. This subscription-based model ensures predictable, recurring revenue for the platform, reflected in ARR.
Partnership with Bill Payment Providers:
QwikPay plans to generate revenue by partnering with bill payment providers. Each time a user makes a payment for utility bills or government services through the platform, QwikPay will earn a commission from the payment provider. This partnership creates a mutually beneficial arrangement where QwikPay can offer a share of the transaction fees.
In-App Advertisements:
To further monetise the platform, QwikPay will introduce in-app advertisements. These ads could come from partners or other businesses looking to promote their products or services to QwikPay’s user base. As the user base grows, the potential for advertising revenue increases, offering a scalable income stream. In-app advertisements can be particularly effective in mobile and fintech platforms, with users engaging frequently.
Competitive Advantage
With small businesses looking to retain profitability and merchant fees being pushed onto the consumer, we plan to disrupt the market entrenched with surcharge and high terminal fees, which have become the industry norm.
At QwikPay we aspire to become a direct competitor in the global Scan-to-Pay market, competing against the likes of industry leaders such as Cash App (USA) owned by Square Inc, Google Pay, Venmo - owned by Paypal, and Alipay a China owned market leader with over 1.3 billion users globally.
The consistent features across these leading platforms are merchant payments leveraging QR technology.
Where QwikPay will stand alone is our approach to the market, specifically within Australia and in-application rewards and incentives to improve the ‘stickiness’ and culture of QwikPay's usage.
Our differentiating factors can be summarised by:
- Zero Transaction Fees for Merchants
Unlike traditional payment systems that charge hefty transaction fees, QwikPay eliminates these costs, providing significant savings for businesses. - Seamless Digital Wallet Integration
QwikPay makes it easy for users to load and offload funds from their digital wallets, offering enhanced flexibility and convenience. - Reward Ecosystem
Customers earn 1 Qwik Point for every $1 spent using the scan-to-pay method. These points can be redeemed for products or converted into QwikPay Money, driving customer loyalty. - Localised Discounts
Users enjoy exclusive discounts from nearby merchants, creating mutual benefits for both businesses and customers. - Modern Payment Solution
QwikPay offers a modern alternative to traditional card payments avoiding additional fees and surcharges. - Affordable Merchant Subscription
With a low monthly fee and transparent pricing, QwikPay ensures that small and medium-sized businesses can easily adopt its solution without financial strain. - Tailored for the Australian Market
Developed with a deep understanding of the Australian fintech landscape, QwikPay provides a compliant, user-friendly solution that meets local needs effectively. - Future Vision: A One-Stop Financial Solution
In the future, QwikPay aims to evolve into a comprehensive platform for all financial activities, including bill payments, loans, insurance, and investments. This vision will make Qwik Pay the ultimate solution for managing personal and business finances in one convenient app
The QwikPay Team
The QwikPay team bring together a mixture of skills and experience across fintech, marketing, software engineering, banking and insurance, with a collective focus to transform the digital payments landscape.
Use of Funds
Funds raised from this Equity Crowdfunding campaign will be allocated towards strategic customer onboarding initiatives and reward programs to accelerate growth and increase user engagement across Australia.
There has been proven success following this path to market, with Cash Rewards as a key case study. New initiatives focusing on customer benefits and incentives, in addition to a bold creative and branding strategy lead to a 51% increase in its members in one year (adding almost 1 million users in 12 months).
Here’s how the raised capital will be used:
- Customer Onboarding Rewards:
A significant portion of the raised capital will be dedicated to creating attractive onboarding rewards for new users and businesses joining the platform. This can include offering financial incentives such as cashback, transaction fee discounts, or rewards for early adoption. Incentive programs have been proven effective in fintech to drive rapid user acquisition and increase platform engagement. - Onboarding Operational Team:
The initial focus will be on expanding the operations team, which will manage the day-to-day processes of the platform, provide customer support, and ensure smooth onboarding of new users and merchants. This team will play a critical role in establishing strong relationships with customers and addressing any concerns promptly, ensuring high levels of customer satisfaction. Hiring talent across different operational functions will allow QwikPay to scale efficiently. - New Feature Development:
Post-raise, QwikPay plans to invest in developing new features, such as bill payment integration and government services, to enhance the app’s functionality and provide users with a more comprehensive and seamless financial experience.
Risks
Funding.
The Company is in the process of raising funds to achieve its strategic business objectives and cover its projected operating expenses associated with growing the company. The Company may not raise all of the required funding and therefore may not achieve all of its business objectives. Depending on the success of the Offer, the Company may also need to raise additional funds in the future from investors or third parties. There is no assurance that the Company will be able to obtain additional rounds of funding on substantially the same terms as outlined in this Offer Document or at all. The Company’s value may be materially affected if the required additional funding is not available.
Dilution.
A shareholder’s interest in the Company could be diluted if the Company raises further capital via share issuance and existing shareholders do not participate in future fundraising.
Returns are not Guaranteed.
There is no guarantee of any income distribution or capital return on the shares in the Company nor is there a guarantee of repayment of capital amounts. Shareholders will not be entitled to any guaranteed distributions of profits or capital. There is no guarantee that distributions will be at a certain level or that there will be distributions at all.
Dividends.
Any future determination as to the payment of dividends by the Company will be at the discretion of the Directors and will depend on the financial condition of the Company, future capital requirements and general business, and other factors considered relevant by the Directors. No assurance in relation to the payment of dividends or franking credits attaching to dividends can be given by the Company.
Competition Risk.
The Company operates in a competitive market, with several known competitors. There are however moderate barriers to entry that could give rise to new and unknown competitors. If the Company is unable to successfully compete with existing and/or new competitors, this would have a negative impact on the revenue, profitability, and future prospects of the business.
Unforeseen Expenditure Risks.
Expenditure may need to be incurred that has not been taken into account in the preparation of this Offer Document. Although the Company is not aware of any such additional expenditure requirements, if such expenditure is subsequently incurred, this may adversely affect the expenditure proposals of the Company
About Swarmer
Swarmer is an Australian equity crowdfunding platform connecting businesses and investors. Designed to support start-ups, growth companies and scale-ups we allow everyday investors to own a share in businesses that are the future. We hold Australian Financial Services License (AFS License #507867).
Find out more about becoming a shareholder via Equity Crowdfunding through Swarmer.