Here’s A Review on ipaymy: The Platform That Helps You Save Time and Earn Miles

Here’s A Review on ipaymy-the Platform That Helps You Save Time and Earn Miles

Want to use your credit cards for your monthly payments for insurances, taxes or rent? Being the typical kiasu Singaporean that we all are, here’s something you should know.

Even if you are able to use your credit cards for these payments, these transactions would not earn you rewards or rebates.

Say what?!

Lucky for you, ipaymy has a way around this!

[alert type=”success”] Use code MONEYKINETICS20 for $20 off the ipaymy fee for new users’ first payment.
for Singapore issued Visa and Mastercards. [/alert]


What Is ipaymy

ipaymy is an easy to use and innovative platform that enables users to earn rewards and rebates easily. ipaymy allows you to pay for transactions that are usually paid through bank transfers that otherwise don’t give you rewards or don’t accept credit card payments.

In turn, a small fee of 2.25% will be charged per transaction. However, before you get turned away by the fee, you’ll be glad to know that you can accumulate the usual rewards and rebates with ipaymy. Moreover, things such as rental, income tax and insurance are usually bigger ticket items.

This way, you can earn points to redeem towards your next holiday a lot faster and for a business class ticket at a margin of the cost. Hence, the points / air miles earned will easily offset the 2.25% transaction fee!

What is ipaymy

[alert type=”success”] Use code MONEYKINETICS20 for $20 off the ipaymy fee for new users’ first payment.
for Singapore issued Visa and Mastercards. [/alert]


How ipaymy Works

Given ipaymy’s simple platform, you can pay your largest expenses in minutes! Here’s how:

  1. Provide your recipient’s bank details
  2. ipaymy charges your credit card that amount plus a small fee
  3. ipaymy pays your expenses by bank transfer as early as the next day


ipaymy: For Business Cashflow

If you’re running a business, ipaymy can be used a cash flow management tool.

Before ipaymy, there were limited options that were capable of giving people the flexibility to use their credit cards for significant expenses. With credit cards, you have access to cash instantly, which enables you to manage your cash flow more effectively.

With ipaymy you can easily use a credit card to pay invoices, salaries, rent and more. Switching cheque payments and bank transfer to your credit card gives you the chance to take advantage of your credit card’s interest-free extended terms on your most significant monthly expenses.

This allows you to fulfill your payment obligations while delaying spending cash for as much as 55 days up to when your credit card statement is due. When it comes to paying for your business’ largest operating expenses. You basically have an interest-free loan for your business in your wallet!

ipaymy’s easy to use, and secure platform makes payments to vendors quickly. This means you no longer have to contend with the frustration and delays that are associated with conventional financing options for SMEs.

You can keep track of payment status, set reminders for payments, manage invoices and schedule ongoing payments from a single dashboard.

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The team at ipaymy is helpful and committed to providing professional services. If you are someone who tends to forget to pay your bills regularly, ipaymy serves as a platform that allows you to manage your payments with ease.

You’ll also be able to reap the air miles and rebates as you use your credit card to pay for such big ticket items with ipaymy.

Still undecided if you should consider using ipaymy for your business? Here are 4 reasons why:

  1. Hold onto your cash longer while rent, salaries and invoices are paid-on time
  2. Pay virtually anyone with your credit card
  3. No contracts or subscriptions – pay per use pricing
  4. Rewards: When paying with your credit card you can earn cashback, program points or airline miles

One of the outstanding features of ipaymy is security. All the payments are made with top-notch encryption to make sure that your privacy is always protected.

You’ll also be glad to know that ipaymy has a dedicated staff for each individual business account. This means that your transactions and any questions that you have will be well taken care of.


Below is a table of the fees ipaymy charges per transaction:

Credit Card TypeTransaction FeeTerms & Conditions
Visa / Mastercard1.79% (No promotion code required)For scheduled rent payments

Singapore issued credit cards

Minimum 6 months scheduled payments
Visa / Mastercard2.25%Singapore issued credit cards
Visa / Mastercard / American Express3.30%International credit cards

Here are the latest ongoing promotions with ipaymy:

  • 1.75% Tax Payment (till Nov 15 2020):

  • 1.79% Recurring Rent Payment:

Cards Which ipaymy Support

It is important to note that not all credit cards are eligible for rewards (cashback, air miles, points) with ipaymy. Check out this list for the participating credit cards.

[alert type=”success”] Use code MONEYKINETICS20 for $20 off the ipaymy fee for new users’ first payment.
for Singapore issued Visa and Mastercards. [/alert]


Innovative Funding: Interest Free Funding For 55 Days

ipaymy helps SMEs maximise on the benefits of a credit card. It provides them with a convenient way to access interest-free capital for 55 days.

Whether it is a small business or startup, managing cash flow is among the most crucial and typically stressful aspects of running a business.

ipaymy aims to make it easier to break down the barriers that inhibit payment by enabling SMEs to utilise their credit cards and pay for expenses such as rent, supplier’s bills and payroll.

The concept gets based on freeing up 55 days of 0% interest cash for the business while enabling recipients to get early payments.

If you run a company and want your money to be kept longer for investment in growth, you can consider using ipaymy.

When a company requires thousands of dollars to fix a machine, rather than taking out a loan, turning to family or disposing of assets, you can consider the option of using your credit card to pay for salaries and free the money for the machinery repair for 55 days. When the other revenue sources are available, the company can pay off the card.

Innovative Funding Interest Free Funding For 55 Days

Unlike taking out a loan, the injection of cash temporarily is interest-free. 

Specially tailored for individuals and businesses, ipaymy ensures that you’ll be able to pay for your big ticket spends, all while enjoying the extra points / air miles that come along with it!

International Payment Option: Pay Abroad

Thinking of paying rent, salaries and invoices to an overseas receipient? You can now do so with ipaymy’s NEW “Pay Abroad” function! Added to this, you can also transfer money from your Singapore bank account to your overseas bank account.

Currently ipaymy supports payments to over 30 different countries abroad:

  • Australia
  • Austria
  • Belgium
  • China* (CNY and USD)
  • Cyprus
  • Estonia
  • Finland
  • France
  • Germany
  • Great Britain
  • Greece
  • Hong Kong (HKD and USD)
  • India (INR and USD)
  • Indonesia (IDR and USD)
  • Ireland
  • Italy
  • Japan (JPY and USD)
  • Latvia
  • Lithuania
  • Luxembourg
  • Malaysia (MYR and USD)
  • Malta
  • Netherlands
  • Portugal
  • Slovakia
  • Slovenia
  • Spain
  • Thailand
  • United States

Do note that salary payments are not available to China. Payments made to China can only be to recipients that are a registered Business.

Looking to start your first payment abroad? You can sign up for their Beta list here.

Make your first payment with ipaymy today!

[alert type=”success”] Use code MONEYKINETICS20 for $20 off the ipaymy fee for new users’ first payment.
for Singapore issued Visa and Mastercards. [/alert]