RapidPay, a leading provider of online payment solutions for legal practitioners, announced today that it has acquired QuickaPay, an online payments platform offering buy-now-pay-later (BNPL) services.
RapidPay, which is backed by ATI Global, and QuickaPay will merge their teams and technology to create a seamless experience for users. The collaboration will enable law firms using RapidPay to get paid faster by offering BNPL to their clients, in addition to RapidPay’s existing market-leading capabilities in legal payments.
“I am very excited about the combination of RapidPay and QuickaPay to deliver a dedicated payment and BNPL offering to the legal market,” said newly-appointed CEO David Wills. “We’ve listened to feedback from law firms who want to offer BNPL to support their clients and improve cash flow. Customer expectations around payments and funding options are changing quickly and we want to continue to offer the most suitable products to our legal and conveyancing client base.”
QuickaPay Founders Nathan Carroll and Nick Glynn said, “It was clear from our first interaction with RapidPay that we share a common mission to solve cash flow stress for small businesses. We as founders, and the QuickaPay team, are excited about joining RapidPay and ATI Global. We see a big opportunity to reduce friction in legal payments.”
Carroll and Glynn will continue in an executive capacity within RapidPay, alongside Wills and Ferdi Chavez, RapidPay’s General Manager. RapidPay’s new BNPL product will be available to selected clients through its exclusive integration with LEAP in the first half of 2022, with a full Australian launch of BNPL anticipated later in 2022.
RapidPay recently surveyed its law firm clients in relation to BNPL. Feedback was very positive with anticipated benefits for law firms including the ability to take on more clients, reduced risk and cash tied up in receivables and less chasing clients for payment. Anticipated benefits for clients of law firms include better access to legal advice and the ability to spread bill payments over time. RapidPay’s BNPL product will be non-recourse to law firms and will work seamlessly with RapidPay’s other payment services and the law firm’s practice management platform.