revolutionising the way to pay and budget bills...cheapest outcome $11.98 $23.96 notes: 1 varies...
TRANSCRIPT
Revolutionising the way to pay and budget bills
M E D I A K I T
Defining deferit
Who we are
The problem
Benefits of using deferit
Supporting the local economy
How we’re different
deferit in numbersHow it works
Our customers
Milestones
Key stats
Fee comparison
What people say
deferit ratings
Reviews from our customers
deferit on the news
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Table of contents
deferit[ dih-fur it]
Noun, Verb
dictionary.com
defining deferitThis section defines who we are and the problem we’re trying to solve.
deferit is a payment platform that allows people to pay any bill in
4 simple fortnightly instalments.
It was founded to champion the customer’s best interests when
it comes to paying their bills. That’s why there is no interest,
establishment fees, annual fees or late fees on the platform.
There is no comparable product in the Australian market which
offers this level of customer centricity for bill budgeting.
4 deferit Media KitDefining deferit
Who we areDefining deferit
1 Commbank ‘Bill Management Proving Difficult for Some Aussies’
2 BPAY Group‘41% of Australians under 25 don’t know how to pay their bills’
One third of Aussies pay a bill lateevery year 1
Late fees and lost pay on time discounts eat away at people’s finances Fact – CBA research indicates $286 million paid in bill late fees each year 1
89% of Australians feel financial stress 2
People find it difficultto budget and align their
income wiTH their bills
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The problemDefining deferit
deferit helps people pay their bills and
become smarter budgeters.
Saves time by paying
all bills in one place
Guarantees pay on time discounts
Minimises stress
and avoids bill shock
Avoids late fees and interest
Splits billsinto smaller
payments
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Benefits of using deferitDefining deferit
Helps people pay on time, so that businesses get
paid on time.
If businesses don't get paid, people don't get
paid. 97% of businesses in Australia are small
businesses.3
ASIC says poor cash flow is a factor in 40% of
business failures.3
46% of small businesses have to ask 2-3 times for
customers to pay their bills. 3
Due to its budgeting and pay alignment benefits,
most bills are typically uploaded and paid before
the due date accelerating cash flow for many small
33 Source: Source: asbfeo.gov.au/sites/default/files/Small_Business_Statistical_Report-Final.pdfasbfeo.gov.au/sites/default/files/Small_Business_Statistical_Report-Final.pdf
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Supporting the local economy
Defining deferit
Reduces debt levels
Doesn’t encourage excess consumer spending
Users are able to move payments for free
Doesn’t charge late fees
Improve consumer cashflow and financial management
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How we’re differentDefining deferit
6 5 0 . 3 2deferit in numbersIn this section, we go naked to show you the key numbers about our product.
Clear and simple with no hidden surprises. Users get up to
$2,000 balance to pay bills with for only $5.99 a month.
No balance, no fees.
Just like Netflix. Users only pay the monthly fee
when using the service.
No interest.
Bye bye traditional finance. We don't charge any
interest whatsoever.
No late fees. Ever.
We don’t believe in late fees or any other hidden fees.
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How it worksdeferit in numbers
35%
65%female
male
Users by gender
Users by age
Users
200,000 +
18-25 25-35 35-50 50-65 65+
10%
57%
24%
8%1%
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Our customersdeferit in numbers
$50m +
$2.5m +
$5m +
Total amount our users saved in pay on time discounts
Total amount our users saved in late fees
Bills paid
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Milestonesdeferit in numbers
We looked at over 50,000 people using deferit, here’s what we found.
Ask for their billto be paid before the due date
Pay more than just the overdue amount when the bill is overdue
Used deferit to pay an overdue bill and then paid their next bill on time
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Key Statsdeferit in numbers
FeesThis column describes the fees
of each scenario
Example 1$350 bill being paid 2 months after the due
date with the customer missing payment dates
Example 2 $350 bill being paid 4 months after the due
date with the customer missing payment dates
Monthly fee Interest Late fees Total cost Total cost
Bill provider - No Pay on time discounts N/A 0 $13.50 1 $27.00 $54
Bill provider - Pay on time discounts N/A 0 $76.50 2 $103.83 130.83
deferit $5.99 0 0 $10 $20
Zippay Wallet $6 0 $5 $22 $44
Credit card $10.42 3 19.28% 4 $11.70 5 $22.24 $44.84
Low interest personal loan $24.08 6 $12.56 7 $15 8 $93.18 $141.30
Cheapest Outcome
$11.98 $23.96
Notes:Notes:11 Varies between service providers and plans. This amount is the average late payment fee of Optus, Telstra, Vodafone, Energy Australia, AGL and Origin Energy. Varies between service providers and plans. This amount is the average late payment fee of Optus, Telstra, Vodafone, Energy Australia, AGL and Origin Energy. 22 Based on average pay on time discounts Based on average pay on time discounts across NSW, QLD, VIC, SA. Represents the average of 60 plans. $13.50 + 18% discount. across NSW, QLD, VIC, SA. Represents the average of 60 plans. $13.50 + 18% discount. 33 $125 annual fee. Based on analysis provided by Canstar Blue, at https://www.canstar.com.au/credit-cards/aussies- $125 annual fee. Based on analysis provided by Canstar Blue, at https://www.canstar.com.au/credit-cards/aussies-pay-24-billion-average-interest-over-four-years/ pay-24-billion-average-interest-over-four-years/ 44 Based on analysis provided by Canstar Blue, at https://www.canstar.com.au/credit-cards/aussies-pay-24-billion-average-interest-over-four-years/ Based on analysis provided by Canstar Blue, at https://www.canstar.com.au/credit-cards/aussies-pay-24-billion-average-interest-over-four-years/ 55 Based Based on average late fee of approximately 200 credit cards. Source: https://www.canstar.com.au/credit-cards/credit-card-late-payment-fees-cost/ on average late fee of approximately 200 credit cards. Source: https://www.canstar.com.au/credit-cards/credit-card-late-payment-fees-cost/ 66 Average application fee of lenders offering credit of $5000 or Average application fee of lenders offering credit of $5000 or less. $193 application fee and $8 monthly fee. Source: https://www.finder.com.au/personal-loans/low-interest less. $193 application fee and $8 monthly fee. Source: https://www.finder.com.au/personal-loans/low-interest 77 Average interest rate of lenders offering credit of $5000 or less. Source: https://www.finder. Average interest rate of lenders offering credit of $5000 or less. Source: https://www.finder.com.au/personal-loans/low-interest com.au/personal-loans/low-interest 88 Average late fee is $15. Source: https://www.finder.com/personal-loan-fees Average late fee is $15. Source: https://www.finder.com/personal-loan-fees ** Fixed fees for general credit have been discounted 75% in example scenarios Fixed fees for general credit have been discounted 75% in example scenarios
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deferit fee comparisondeferit in numbers
deferit is the cheapest option for those who
need more time paying their bills.
A customer is better off with deferit than
paying late fees to their biller.
What people sayIn this section, we take out the tissue box. This is what people have to say about deferit.
Send
(out of 397 reviews) (out of 975 reviews)
(out of 4,190 reviews)
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deferit ratingsWhat people say
FionaNUMBER 1 BILL REPAYMENT PAYMENT APP!!! Been my life saver on more than one occasion and honestly if you haven't tried it you MUST! Thanks deferit, for helping me stay on top!
RussLife has plenty of peaks & troughs, and when the bills come in the troughs at least you can deferit.
JennyLove deferit! life has never been so good. Less stress since l started using it with bills being paid on time and budgeting made easier. [...] Couldn't be happier with deferit and their service.
ChrisThis company needs to win an award for its dedication to its customers. Such an easy process to pay bills split over 4 payments (which makes life much easier). [...]
TaylaFantastic service. Can’t recommend enough. Incredibly accommodating to suit one’s pay cycle. Flexible with payments and the staff in the call centre are incredibly helpful and friendly.
RhiannonSuch a great experience. Honestly these people are like guardian angels! Sometimes you need help with finances, and this just makes my life so much easier! Thank you Thank you Thank you. [...]
+1.000’s more!!!
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Reviews from our customersWhat people say
Awards
We're open to enquires
Our debut TV appearance!
It was an honour to be runners up in the 4th Annual FinTech Awards 2019! Category: Best FinTech Payments Provider
Check us out on Finder! Hint: the article is very comprehensive.
We've been featured on
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deferit on the newsWhat people say
