The Ultimate Guide to Pay.com.au - Earn 10,000 Bonus PayRewards Points

There are many third-party payment platforms in the market today. All of these offer the ability to earn the full value of frequent flyer points when using either a Visa/Mastercard, American Express card, or both. This is a great benefit because many card providers exclude certain transactions from earning points.

Pay.com.au is a payment platform that offers not only this, but also more. You can earn the full value of credit card reward points when using any type of point-earning card, plus the opportunity to earn even more points. This opportunity is also available on bank transfers.

New users can get 10,000 Bonus PayRewards points when they transact $10,000 or more in their first month of using an eligible payment method. Terms and Conditions apply.*

Don’t have a business credit card? No worries! You can still earn points through your bank account by going through the PayRewards program. Read on to see how to get your business’ points balances ready for take-off.

Disclaimer: Point Hacks is affiliated with Pay.com.au

What is pay.com.au?

Pay.com.au, (or simply Pay), is a third-party payment platform that was founded in 2020. Pay allows businesses to earn full reward points on all bank transfer transactions made through the platform. These includes all transactions typically excluded from earning points through most credit cards, or at best, with heavily reduced earn rates.

Such expenses include payments to government bodies or the ATO. These types of costs are usually businesses’ most significant expenses, which is why the Pay platform is so rewarding for companies. 

Pay has since expanded to include BPay transactions, introduce its own PayRewards program, and allow businesses to earn points on bank transfer transactions.

How much does Pay cost?

The fees charged through Pay are dependent on the type of payment card that you use, along with the Pay Plan that you are currently on. 

	Free	Regular	Premium
Monthly Fee	Free	$85	$165
Payment Processing Fee: Mastercard*	1.00%	0.90%	0.80%
Payment Processing Fee: VISA*	1.20%	1.10%	1.00%
Payment Processing Fee: American Express*	2.10%	2.05%	1.90%
Payment Processing Fee: Bank Transfer	Varies on package	Varies on package	Varies on package

As with most other B2B payment processors, fees are exclusive of GST. Businesses will need to pay GST on the payment fees upfront, but may be able to claim a portion of it (and the payment fee itself) back through the ATO. This is general advice only. Consult a qualified accountant or financial adviser for personalised information.

How does Pay compare to its rivals?

The table below shows how Pay compares with other similar platforms. These include B2BPay, RewardPay and Payment Logic. Here is a quick comparison of the services offered.

	Pay.com.au	Payment Logic	RewardPay	B2BPay
All major credit cards	✓	–	–	✓
Cheapest rates	✓	–	–	–
Points Concierge	✓	–	–	–
Seamless customer interface with accounting integrations	✓	✓	–	✓
Travel bookings & points redemption service	✓	–	–	–
Flexible Rewards Currency	✓	–	–	–

As you can see, Pay is very competitive against its major rivals. But what makes it stand out from the rest is an additional feature unique to Pay.com.au: PayRewards.

What is PayRewards?

PayRewards is the in-house, flexible points loyalty program for Pay.

In addition to earning reward points from your point-earning payment card, Pay customers can also earn additional points through PayRewards, known as PayRewards points. There’s a double-dip opportunity here!

Any PayRewards points earned can then be redeemed for various rewards, including transferring to frequent flyer partners. Currently, there are ten transfer partners:

• Qantas Business Rewards
• Singapore Airlines KrisFlyer
• Virgin Australia Business Flyer
• Qatar Airways Privilege Club
• Asia Miles
• Air Canada Aeroplan
• Accor Live Limitless
• Marriott Bonvoy
• IHG One Rewards
• Vietnam Airlines Lotusmiles

Eligible Pay customers also have exclusive access to a luxury concierge service that will help you fulfil almost any reward request they can dream of.

How can I earn PayRewards points?

You can earn PayRewards points with all transactions made through Pay, regardless of your payment method. Using a credit card or debit card or just transferring funds from a bank account can earn you PayRewards points.

However, you must select a PayRewards points earning tier (at an additional fee) when finalising your Pay.com.au transaction, to be eligible to earn PayRewards points. There are two tiers, offering 1 PayRewards point or 2 PayRewards points per dollar, respectively.

The number of PayRewards points you earn per dollar processed through Pay, along with the tier cost, is as follows:

No PayRewards tier selected	Tier 1 (1 point per dollar)	Tier 2 (2 points per dollar)
No PayRewards points earned	1 PayRewards point per $1	2 PayRewards points per $1
No extra cost	1.0% ex GST on top of your Pay processing fee	1.8% ex GST on top of your Pay processing fee

To double-dip on your points, you will also need to use a points-earning payment card in addition to selecting one of those two PayRewards-earning options.

Looking at it purely mathematically, Tier 2 offers the best value for money. Choosing this tier provides 2 PayRewards point per $1 for 1.8% ex GST, versus 1 PayRewards point per $1 for 1.0% ex GST. 

Now you’re probably asking, which of the above three options should I select to get the most value for my points? If this is you, then read our guide on the value of a point before reading our example further below.

Presently, we value a Qantas Point at 1.90 cents, a KrisFlyer Mile at 1.90 cents and a Velocity Point at 1.90 cents. These are well more than both 0.9 and 1 cent per point for the Tier 2 and Tier 1 costs, respectively.

Where can I redeem my PayRewards Points?

There are two main ways to redeem PayRewards points, as shown below. 

1. Convert your PayRewards points to major partners

PayRewards is a flexible points program. You can transfer your PayRewards points to ten partners, including Qantas Business Rewards, Singapore Airlines KrisFlyer, Virgin Australia Business Flyer and more. This allows members to direct their reward points to the partners of their choice at any time.

The conversion rate from PayRewards to its transfer partners varies:

• 4 PayRewards points = 1 ALL point
• 3 PayRewards points = 1 Asia Mile
• 2.5 PayRewards points = 1 Qantas Point, 1 KrisFlyer mile, 1 Velocity Point, 1 Avios, 1 Aeroplan Point or 1 Lotusmile
• 2 PayRewards points = 1 IHG Rewards point
• 1.75 PayRewards points = Marriott Bonvoy point

For airlines with the standard 2.5 to 1 transfer rate, the effective frequent flyer point/mile earn rate for every $1 processed through Pay is:

No PayRewards tier selected	VIP	VIP Premier
No frequent flyer points/miles	0.4 frequent flyer points/miles	0.8 frequent flyer points/miles

We will update this guide for effective earn rates as new partners come on board. Learn more about earning KrisFlyer miles with PayRewards.

2. PayTravel

If you want assistance redeeming your frequent flyer points into flight rewards, then the PayTravel team can assist.

PayTravel helps Pay customers get the best value out of their frequent flyer points. The team can help you redeem your frequent flyer points for reward seats, especially those in Business and First Class. And if your travel itinerary is complex, the PayTravel team can help there, too.

For example, if you have multiple flights or stopovers or are looking to travel part of your itinerary on the road and require more complicated open-jaw tickets, help is at hand.

Note that the service is not limited to points you earn through PayRewards. All your points balances that you own can be used. The great news is that PayTravel is open to all members. The number of travel bookings offered on a complimentary basis per year is dependent on your Pay subscription plan as follows:

1. Free Plan	2. Regular Plan	3. Premium Plan
Pay per single PayTravel service with no ongoing subscription. ✓ Access PayTravel for International and Domestic bookings at $250 per person.	$1000/worth of value ✓ 2 annual international travel booking ✓ two annual domestic travel booking	$1000/worth of value ✓ 2 annual international travel booking ✓ 2 annual domestic travel booking

3. Convert your PayRewards points through PayConcierge

This is where you can get creative! Pay has partnered with global luxury concierge service Quintessentially to provide a range of tailored rewards to meet your every desire. 

Fancy a First Class trip to Santorini? No worries. How about adding a new Rolex watch to your collection? It’s just a phone call away. And a Porsche 911 as a new addition to your garage? Surely not? But most definitely, yes! 

The above rewards are just a few examples. Throw in last-minute restaurant reservations and sold-out sporting events into the mix. As well as in-home support or assistance sourcing the perfect gift for a loved one.

In other words, PayConcierge will look to cater to your every whim. And it is available to all eligible Pay members. 

To be eligible for PayConcierge, you must make a $5,000 transaction through the platform. The service is then valid for 30 days from that date. Of course, put multiple $5,000 transactions through, and the validity date keeps extending. 

Should I opt-in to PayRewards?

There are two types of Pay customers. The first are those with low to modest Qantas Points, Velocity Points or KrisFlyer miles balances and are looking to supercharge their balances.

The second are those that have more frequent flyer points than they know what to do with. These customers might be less inclined to want Qantas points or KrisFlyer miles, and instead would seek other rewards, or in other words, ‘cash equivalent’ rewards. 

Depending on which group you fall into will determine which form of payment type and PayRewards tier (if any) you should select. 

Let’s take a look at an example

Let’s assume your business puts through $7 million of expenses into Pay. The table below compares the net value created after considering the value of points earned and associated fees for three scenarios. 

Firstly, the table is split into five columns incorporating the different payment methods and available PayRewards tier (if any) combinations. These include using:

1. American Express Platinum Business Card
2. Bank Account or Debit Card as a VIP member
3. Bank Account or Debit Card as a VIP Premier member
4. American Express Platinum Business Card as a VIP member
5. American Express Platinum Business Card as a VIP Premier member

Secondly, the table shows the net estimated values for all five combinations above. This includes when members convert their American Express Rewards or PayRewards points (whichever is relevant) into Qantas Points or KrisFlyer miles (third line from bottom). Also, when members convert their American Express Rewards or PayRewards points (whichever is relevant) ‘cash equivalent rewards’ (bottom line).

	American Express Platinum Business Card only	Bank Account or Debit Card + Tier 1 PayRewards	Bank Account or Debit Card + Tier 2 PayRewards	American Express Platinum Business Card + Tier 1 PayRewards	American Express Platinum Business Card + Tier 2 PayRewards
Supplier payment amount ($)	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000
Processing fee (% rebate, ex GST)	1.9	1.0	1.8	2.9	3.7
Gross processing fee ($)	133,000	70,000	126,000	203,000	259,000
Net processing fee ($)~	93,100	49,000	88,200	142,100	181,300
Points earn (pts/$)	2.25 Amex Points	1 PayRewards point	2 PayRewards points	2.25 Amex Points + 1 PayRewards point	2.25 Amex Points + 2 PayRewards points
Amex Points	15,750,000	N/A	N/A	15,750,000	15,750,000
PayRewards points	N/A	7,000,000	14,000,000	7,000,000	14,000,000
Converted to Qantas Points, Velocity Points or KrisFlyer miles	7,875,000	2,800,000	5,600,000	10,675,000	13,475,000
Effective cost per Qantas Point, Velocity Point or KrisFlyer mile ($)	0.012	0.018	0.016	0.013	0.013
Estimated Value in Qantas Points or KrisFlyer miles ($)*	275,625	98,000	196,000	373,625	471,625
Net estimated Value for Qantas Points or Krisflyer miles conversion ($)	182,525	49,000	107,800	231,525	290,325
Estimated Value when converted to ‘cash equivalent’ conversion ($)^	78,750	56,000	112,000	134,750	190,750
Net Estimated Value for ‘cash equivalent’ conversion ($)	-14,350	7,000	23,800	-7,350	9,450

The above table shows that the preferred combination of payment platform and PayRewards membership depends on what type of PayRewards customer you are. 

Are you chasing as many Qantas Points or KrisFlyer miles as possible?

Select: Points-earning payment card + Tier 2 PayRewards

If maxing out your points-earning potential is your main goal, then using a points-earning payment card and selecting the Tier 2 is your best bet. This is because it gives you the greatest net value when converting your credit card and PayRewards points, after factoring in all associated costs. 

In the example above, your company processing $7 million in expenses through Pay would come out with an estimated net value of $290,325 based on our assumptions. This is far greater than any other options displayed.

Or are you looking for more ‘cash equivalent’ rewards

Select: Bank Account or Debit Card and + Tier 2 PayRewards

If, however, your Qantas Points or KrisFlyer miles balances are not in need of a serious points injection, at least for now, then another combination is the better option for you. And that option is the Bank Account or Debit Card and Tier 2 PayRewards. You get the greatest net value when converting your points to a ‘cash equivalent’ reward. 

In fact, based on our example, your net value gained is $23,800 based on our assumptions, compared to lower net values for other combinations. 

Summing up

The advent of third-party platforms into the market has been a boon for businesses and points chasers alike. Expenses that previously had no chance of being points-earning were now very much that!

And there are a number of third-party payment platforms out there. But pay.com.au has taken it a step further. The introduction of PayRewards allows customers to earn even more rewards points on top of their normal credit card points. As such, customers can tailor their points-earning options to get the maximum value based on their points-earning goals. 

So, there is no time like the present to get your business’s reward points soaring. 

Frequently asked questions

How do I transfer PayRewards points to an airline partner?

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Disclaimer: Point Hacks is affiliated with Pay.com.au