Sniip suing Amex for $2m

[cbreeze]

Just reported: [Paywalled]

Sniip bill payment app in court stoush with Amex over $2m​

A lot of us use Sniip to pay BPAY bills via our Amex cards. I hope this doesn’t ruin the 1.5% agreement that Sniip has.

 

[Dr Ralph]

Just reported: [Paywalled]

​

Sniip bill payment app in court stoush with Amex over $2m​

A Queensland-based financial technology company that allows consumers to pay bills via an app has slapped a global credit card giant with a $2.2m lawsuit.

...

Sniip Limited, based in South Brisbane, have filed a civil claim against American Express Australia Limited (Amex) in the Federal Court in Brisbane in a bid to force the credit card company to comply with their agreement, alleging they have withheld $2.2m.
According to the originating application filed in court on August 9, Sniip wants the court to declare that Amex has breached the terms of the Australian bill pay service provider agreement signed in October 2020.
Sniip alleges that Amex withheld $2,197,379 on August 8 and 9.

 

[Cruiser Elite]

Oh dear - I fear for the worst.

Kinda on topic but different aggregator - I have been using YakPay to settle our FOREX purchases from AMEX FOREX for several years - last week AMEX FOREX informed me I can no longer settle these FOREX purchases through YP and that payment must come directly from our Company Bank Account.

I summarily told AMEX go screw themselves and I will buy FOREX from another broker who are prepared to accept settlement via YP.

AMEX do have a system whereby you can settle FOREX transactions via an AMEX Card but they want 2.15% Merch Fee to settle - bordering on criminal

 

[Coops1]

Damn, no more referral discounts and Amex offers then

 

[Miss Sniip]

Hi @Cruiser Elite, @Coops1, @Dr Ralph, @cbreeze! We’re sorry to hear the article gave you cause for concern, yet we completely understand. We appreciate the American Express x Sniip partnership is important to you and rest assured, it's important to us too! The good news is, we are working with American Express to resolve these payment processing matters and are very confident that we will be able to do so quickly.

Importantly, this won't impact your payments - it's still business as usual at Sniip and you're still able to earn all your points with Sniip! We're still the same app and experience that you know and love!

Our commitment to ensuring your bills are paid on time, every time stands true! If there's ever any change to processing times for any reason, we will always let you know.

If you have any concerns or questions, you can always call and chat to our team on
(07) 3268 7710 or email [email protected].

Ms Sniip

 

[Cruiser Elite]

How good is that response - a business that actually cares - I was white apprehensive at first but recent activity has allayed most of my concerns

 

[serfty]

Interesting though that the issue is over two specific days at the beginning of last week.

 

[rhett]

Hi @Cruiser Elite, @Coops1, @Dr Ralph, @cbreeze! We’re sorry to hear the article gave you cause for concern, yet we completely understand...

Our commitment to ensuring your bills are paid on time, every time stands true! If there's ever any change to processing times for any reason, we will always let you know.

These commitments from Sniip are a little hollow given the very limited duration undertakings Sniip has offered regarding the appointment of an administrator/liquidator as noted in the orders made on the court file - https://www.comcourts.gov.au/file/Federal/P/QUD276/2022/actions

"Upon the plaintiff’s further undertaking that it will not, at any time within the next 7 days, appoint an administrator or liquidator to the plaintiff other than on 1 clear business day’s written notice (in New South Wales),"

Sorry Sniip, after seeing that, I've got concerns. Surely Sniip could undertake not to appoint a VA/liquidator on at least seven days notice if all was fine.

 

[Yak Pay | Payment Logic]

Oh dear - I fear for the worst.

Kinda on topic but different aggregator - I have been using YakPay to settle our FOREX purchases from AMEX FOREX for several years - last week AMEX FOREX informed me I can no longer settle these FOREX purchases through YP and that payment must come directly from our Company Bank Account.

I summarily told AMEX go screw themselves and I will buy FOREX from another broker who are prepared to accept settlement via YP.

AMEX do have a system whereby you can settle FOREX transactions via an AMEX Card but they want 2.15% Merch Fee to settle - bordering on criminal

Hi @Cruiser Elite,

Sorry to hear about that complication. Based on other brokers that our clients are paying with their Visa's and Mastercard's, a good starting point would be OZFOREX LIMITED and COMPASS GLOBAL HOLDINGS PTY LTD.

If you have any questions regarding this don't hesitate to give us a call on 1300 925 729 or email [email protected].

 

[Cruiser Elite]

Tks for response YP but I think I am over the line with another broker.

 

[daft009]

Hmm. Got a large bas payment coming. If no sniip then....??

 

[aben22]

Just reported: [Paywalled]

Sniip bill payment app in court stoush with Amex over $2m​

A lot of us use Sniip to pay BPAY bills via our Amex cards. I hope this doesn’t ruin the 1.5% agreement that Sniip has.

What is the 1.5% agreement?

 

[serfty]

What is the 1.5% agreement?

Sniip charge 1.5% GST Inclusive to pay via Amex.

That 0.136% may be claimable for some as an input tax credit.