SA company helps businesses keep on top of traffic fines incurred by staff in company cars, accepting the cryptocurrency for providing the service.
The phenomenon around cryptocurrencies has exploded in recent years, with startups and long-term established businesses alike being keen to get in on the action. Springwise has covered the innovative use of such payment methods, with previous examples including the gamified blockchain that is built within the Ethereum network, and a platform that is using the currency as an incentive for reliable knowledge-sharing to cease the spread of so-called ‘fake news’.
South Africa-based Fines4u is taking cryptocurrency to new sectors with its use to pay traffic fines. The company specialises in large fleets, monitoring traffic fines and dealing with them quickly, efficiently and legally to help drivers avoid undesirable consequences such as heightened fees or denial for license renewal. Businesses simply sign up and Fines4u monitors its employees or drivers using company vehicles in the event of a traffic fine being issued. It claims to resolve all fines received by a company on their vehicles before they result in warrants for arrest.
Fines4u claims to be able to reduce the cost to clients, and takes 40 percent of the saved amount for the service. On settlement of the service fee, the firm will hand over the reduced traffic fines, reconciliation statement and invoice to the client. The client is then responsible for the payment of the traffic fines or, once all outstanding services fees, including the outstanding fine have been paid to Fines4u in full, it will pay the traffic fines on your behalf. Both cryptocurrencies and regular cash payment is accepted. What other smart payment solutions could help companies keep on top of their business vehicles?