Payments company QuickFee enjoyed substantial growth in its lending division in the December 2023 half, driving higher revenue and margins. QuickFee provides digital payment services to professional services firms in Australia and the United States, with a particular focus on legal and accounting firms. It also offers a form of receivables finance, allowing clients to offer their customers a facility to pay their fees over time. Finance revenue in the US grew 64 per cent in the six months to December, compared with the previous corresponding period, while revenue from payment services grew around 20 per cent. In Australia finance revenue grew 55 per cent, while payment services revenue grew 16 per cent.  All up, the company’s revenue grew 35 per cent to A$9.2 million. But with higher interest costs and product development expenses, QuickFee reported a loss of $3.4 million. This was an improvement on the loss of $4.2 million in the previous corresponding period. QuickFee works with 757 active firms in the US and 470 in Australia. It signed up 76 firms during the half – 36 of them opting to use the finance facility. Because client firms guarantee their customer’s borrowings, QuickFee faces minimal credit risk. Client firms grant QuickFee “the irrevocable right to require the firm to purchase a client loan for the outstanding amount in the event that a client defaults on an instalment payment.” QuickFee says the firms are low risk and it conducts annual reviews of all client loans and firms. During the half, it wrote off $66,000 of bad debts, representing 14 basis points of total lending.