Courier comparison and booking site, Fast Courier, is now accepting cryptocurrencies as a form of payment, with the one-year-old start-up holding the cryptocurrencies itself and on paying the bookings with cash.

The company takes advantage of economies of scale to get cheaper courier services than small retailers would be able to afford themselves, according to co-founder Vincent Maneno.

Maneno tells RetailBiz, “About 18% of Australians currently hold crypto, and we want to tap into that market.

“It sits well with the premise of the business, which is to offer as many options as possible, and transparency.

“We don’t want to discriminate with anyone based on their own payment choice.”

As for the company’s user base, Maneno says they have a lot of small shops, such as retailers moving spare parts or children’s goods.

“They have a good time using us because we’ve streamlined the process. A lot don’t have e-commerce sites where our major competitors are playing. We’re pushing to help the little guy on the corner who might not be as tech savvy,” Maneno says.

Maneno and fellow co-founder, Stephen Murphy are avid cryptocurrency investors themselves, which is why they will hold the cryptocurrencies in the bet that the value will rise, allowing them to sell at a higher rate at a later date.

Maneno says the company has turned over $500,000 in the 12 months it has been running, averaging month-on-month growth of 100%, though also noting “When you’re starting, the numbers are smaller, so 100% growth is easier.

“Now as we get bigger that percentage value is changing, but the overall number is much higher.”

Fast Courier’s main selling point is its claim to offer prices 30% lower than what they would be able to get themselves by going direct to the websites.

Maneno says, ““Obviously the pandemic has had an enormous impact on e-commerce all over the world, which has resulted in increased demand for couriers.

“But it’s like the Wild West out there, with courier companies charging whatever they like, with little transparency for consumers. Fast Courier utilises market-leading technology to compare courier quotes from multiple providers and delivers the best quote back to the customer instantly.

“Our customers are saving up to 30 per cent on their deliveries in just a few seconds with a quick comparison check on Fast Courier. As we’re booking large numbers of deliveries we can access bulk discounts, which we then pass on to our customers.”

Alongside cryptocurrencies including Bitcoin, Ethereum, Dogecoin, Litecoin and USD Coin, Fast Courier also accepts payment via Paypal, Stripe and credit card.

Fast Courier says it includes options for Aramex, Auspost, TNT, Couriers Please, Fedex, StarTrack, DHL, Toll and Allied Express, with nationwide coverage.