RewardPay Alternatives

[Yak Pay | Payment Logic]

Looks like I need an ABN...which I have, but will they ask for supporting docs etc?

Hi Phil,


Hope you're doing well!

As part of our onboarding process, we may request supporting documents for verification purposes. These documents can be as simple as a utility bill and are necessary to ensure a secure and seamless experience for all our users.

If you require any assistance with the onboarding process or have any further questions, please don't hesitate to reach out to us through private messages.

Have a great weekend.


Kind Regards,
James

 

[lepetitprince]

Hi Phil,


Hope you're doing well!

As part of our onboarding process, we may request supporting documents for verification purposes. These documents can be as simple as a utility bill and are necessary to ensure a secure and seamless experience for all our users.

If you require any assistance with the onboarding process or have any further questions, please don't hesitate to reach out to us through private messages.

Have a great weekend.


Kind Regards,
James

Hi James,

Can you confirm if personal bills to a BSB can be paid using YakPay or Payment Logic?

 

[Yak Pay | Payment Logic]

Hi James,

Can you confirm if personal bills to a BSB can be paid using YakPay or Payment Logic?

Hi There,

I hope you are well.

You can certainly pay bills to those that have a BSB and Account Number (or BPAY details) using our platforms. However, if you prefer to make payments via card, please note that the recipients must have a valid ABN (Australian Business Number). Additionally, in order to sign up for our services, you will need to have a current ABN.

If you have any further questions please don't hesitate to let me know.

Kind Regards,
James

 

[Franko Costa]

Hi There,

I hope you are well.

You can certainly pay bills to those that have a BSB and Account Number (or BPAY details) using our platforms. However, if you prefer to make payments via card, please note that the recipients must have a valid ABN (Australian Business Number). Additionally, in order to sign up for our services, you will need to have a current ABN.

If you have any further questions please don't hesitate to let me know.

Kind Regards,
James

Why ABN is required? Is that a requirement from visa/amex?

 

[Yak Pay | Payment Logic]

Why ABN is required? Is that a requirement from visa/amex?

Hi There,

Having a valid ABN is required for a few reasons. Firstly, it helps us to ensure that the payments made are directed to legitimate businesses or entities. Secondly, it allows us to comply with financial regulations and maintain transparency in financial transactions. It is a standard practice to verify the legitimacy of businesses and protect against any potential fraudulent activities. Also as you mentioned, the card issuers that we support also require our customers and their recipients to be ABN holders in order to process transactions - specifically to those with BSB/Account Numbers.

Many of our clients, such as sole traders, use their personal ABN's to sign up and process transactions on our platforms.

Alternatively, customers can sign up for Payment Logic Personal without requiring an ABN. They can then use their American Express cards to process payments to recipients with BPAY details.

If you have any more questions, feel free to ask.

Kind Regards,
James

 

[ddonks]

Hi There,

Having a valid ABN is required for a few reasons. Firstly, it helps us to ensure that the payments made are directed to legitimate businesses or entities. Secondly, it allows us to comply with financial regulations and maintain transparency in financial transactions. It is a standard practice to verify the legitimacy of businesses and protect against any potential fraudulent activities. Also as you mentioned, the card issuers that we support also require our customers and their recipients to be ABN holders in order to process transactions - specifically to those with BSB/Account Numbers.

Many of our clients, such as sole traders, use their personal ABN's to sign up and process transactions on our platforms.

Alternatively, customers can sign up for Payment Logic Personal without requiring an ABN. They can then use their American Express cards to process payments to recipients with BPAY details.

If you have any more questions, feel free to ask.

Kind Regards,
James

Hi James,
How does a business pay genuine employees not contractors (who don't have a n ABN) via paymnet logic.
I can only see where it requires an ABN
Thanks,
Dave.

 

[BarrysPetfood]

After reading through this forum, I can't make up my mind. From my understanding there are 3 good platforms for processing payments through the AMEX, to redeem full points on every dollar spent, even with supplier that don't take AMEX. What would be the final recommendation for a business that spends about half a million per year, sniip, pay.com.au or yakpay? Also, is it worth paying 10000 dollars over the year in processing fees to redeem those points? Hoping someone can give some guidance.

 

[albyd]

I currently use yak pay and am happy. Depends on how many points $10k in fees earns you. Assuming it’s all Amex and you can get your GST back that would be somewhere around $526k in Amex spend. Is that what you’re looking at? assuming you value a point at 1c AUD each, should be roughly 1.18m MR points on Platinum Charge card which would be 600k or so airline points. I think it’s worth it. Depends on which card you are using and your ultimate goal. Many of us on AFF use Amex and aim to travel with those points.
I have nothing to do with yak pay except as a customer so have no barrow to push.

YMMV

 

[Franko Costa]

I used to use blue chain and now use paytron. For a business this is cheaper than the other providers and the platform is very good. DM for a referral code from me

 

[DrGear]

We used Sniip for paying the rent on the shop but then they stopped being able to pay that provider via Bpay using Amex as Amex changed their terms or some such.

I've used B2B Pay a few times now but it is painfully slow, like several days to acknowledge and then finally pay the thing.

Any recommendations for ones I can use to Bpay our rent?

 

[BarrysPetfood]

I currently use yak pay and am happy. Depends on how many points $10k in fees earns you. Assuming it’s all Amex and you can get your GST back that would be somewhere around $526k in Amex spend. Is that what you’re looking at? assuming you value a point at 1c AUD each, should be roughly 1.18m MR points on Platinum Charge card which would be 600k or so airline points. I think it’s worth it. Depends on which card you are using and your ultimate goal. Many of us on AFF use Amex and aim to travel with those points.
I have nothing to do with yak pay except as a customer so have no barrow to push.

YMMV

Thank you Albyd, I currently am using the business Explorer because of the waived annual fee and the point earn rate being on par with the platinum charge card. Valuation of points only works out on flight. If you were to redeem your AMEX points for anything else, than it wouldn't be worth paying the 1.89% fee, or whatever it is. You're on the money though, and although my ultimate goal is travel, I don't travel enough to justify spending so much to redeem those points. Thanks for the help man

 

[Vivien7541]

Hi guys
updating on Sniip using experience. don't mislead people, sniip sucks! I want to use it only because they accept Amex, however the low rate 1.29% for Amex is personal portal only, 2.15+% for business portal. personal portal almost couldn't use for anything. for example, you want to pay to your super fund, normally super fund doesn't have biller code because it is normally paid via employer clearing house, you also can't pay via invoice because super fund doesn't provide any invoice. You also can't use sniip to pay travel agent. I called them, the consultant was agreed there are very limit vendor you can pay through sniip personal portal. I didn't try business portal because I don't want to pay that high fees

 

[33kft]

You can't pay yourself (eg paying your own super) that's a related party transaction. AMEX have banned people for that in the past. Search Amex related party transaction and you will find some examples.

Here is one: WARNING - Don’t use RewardPay/Amex to make a personal SMSF contribution.

 

[Vivien7541]

You can't pay yourself (eg paying your own super) that's a related party transaction. AMEX have banned people for that in the past. Search Amex related party transaction and you will find some examples.

Here is one: WARNING - Don’t use RewardPay/Amex to make a personal SMSF contribution.

No my super is public super fund not SMSF, I called my super fund, they can't provide invoice or biller code, only BSB & account number. so I can't extra super contribution to my super fund via sniip

 

[33kft]

No my super is public super fund not SMSF

It does not matter. If you found a way through Sniip to pay funds to yourself (that SMSF thread was an example, another person reported being banned for using PayPal to send their SO funds), AMEX are likely to ban you as it is a related-party transaction.

Yes, that absolutely includes sending funds to a public super fund. AMEX do not care if it is SMSF or not, they would ban you all the same.

Paying super with Amex when self-employed

Hi everyone. I understand you can BPAY into an employee's super account using a business Amex card. My question is that can you do this for your own super if you are a self employed sole trader? I read somewhere that paying into one's own super using Amex is like paying yourself with Amex, which...

www.australianfrequentflyer.com.au

 

[DeKa]

sniip sucks! I want to use it only because they accept Amex, however the low rate 1.29% for Amex is personal portal only, 2.15+% for business portal. personal portal almost couldn't use for anything.

What do you mean by personal portal and business portal? There’s only one Sniip app as far as I know.

 

[albyd]

Sounds like the nature of the definitions they're using captures nearly everything under the "business" net rather than the "personal" net. Whilst this will likely lead to lower use of this platform for payments, hopefully it will be sufficient extra revenue to prevent Amex from further devaluing MR due to revenue from Merchant Fees being much lower and thus having to pass it on in reduced point earn.

 

[levelnine]

What do you mean by personal portal and business portal? There’s only one Sniip app as far as I know.

I believe they're referring to the different rates charged for personal and business payments on Sniip, and how almost everything is charged at the business rate.

 

[Bell21]

I believe they're referring to the different rates charged for personal and business payments on Sniip, and how almost everything is charged at the business rate.

I was liaising with Sniip about this recently and from memory, they only have specific categories that fall into 'personal', and if a category isn't captured in 'personal', it defaults to 'business'.

 

[prozac]

@daft009 I saw your question some pages back regards using Westpac Black Mastercard and it being a premium card for Yakpay. It isn't.
The Yakpay fee is 0.8% and this is the card I use for my transactions. Unless your Amex is a multi-point earner, my PlatEdge is not, then there is no difference on transfer rate to say Cathay or Krisflyer. Both Westpac Altitude and Amex rewards schemes transfer at the same rate of 3:1. Westpac Black Mastercard has a lower Yakpay fee of 0.8% so this is the card I use for better transfer value. I never thought I'd be saying this but it is now better value than Amex for me.

@Yak Pay | Payment Logic , I have scoured the help pages on Yakpay and emailed but I am still in the dark about how to make multiple scheduled payments for council rates which are equal amounts every 3 months? Your scheduled payments allow weekly, fortnightly or monthly equally spaced payments, not multiple equal payments on selected dates.