- One Click Group (ASX:1CG) releases an update on the launch of its Next Day Refund product
- The Next Day Refund product allows customers to receive an advance cash payment of up to $1000 from their tax refund the day after submitting their tax return
- 1CG has witnessed a surge in registered user numbers on the One Click Life platform, with an increase of more than 50,000 users this year
- 1CG last traded at 1.6 cents
One Click Group (ASX:1CG), a growing life admin technology platform, has released an update on the launch of its Next Day Refund product.
The Next Day Refund allows customers to receive an advance cash payment of up to $1000 from their tax refund the day after submitting their tax return. In comparison to a standard tax lodgement costing $99, the product is priced at $207.
This product was initiated and funded during the peak tax season with a $2.2 million facility, which was repaid in accordance with the loan note facility’s terms. The final payment was made on October 10, 2023.
“The Next Day Refund product has proved a success with our customers,” 1CG Managing Director Mark Waller said.
“With very limited promotion we have provided almost 3000 customers with up to $1000 of their tax refund the next day after lodging their tax return.”
Since its launch in late June 2023, the product has generated in excess of $0.5 million in revenue, with facility costs amounting to under $0.1 million prior to full repayment.
1CG has witnessed a surge in registered user numbers on the One Click Life platform, with an increase of more than 50,000 users this year.
1CG last traded at 1.6 cents.