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RewardPay Alternatives

albyd

Established Member
AFF Supporter
Joined
Apr 7, 2011
Messages
1,823
I registered for Payment Logic over the weekend. They're however Amex only. Their tiered structure is too pricey for my liking (tax deductible payments might be ok). Looks like an improvement on RP and might give us some hope @ferni might be able to strike a better deal :) Here's the rate sheet they sent me.
Individual Payments
From
To
Rate Excluding GST
$0.00​
$29,999.99​
2.15%​
$30,000.00​
$99,999.99​
2.10%​
$100,000.00​
$499,999.99​
1.99%​
$500,000.00​
$999,999.99​
1.89%​
$1,000,000.00​
$1,999,999.99​
1.79%​
$2,000,000.00​
1.69%​
They do have a Visa/MC service (yakpay) with more reasonable rates and you use the same login details which they've said the merchant fee is set at:
Visa and/or MasterCard processing payments 1% ex GST for Visa and 1.2% ex GST for MasterCard. Looks like EBP will have to reconsider some of their recent fee hike.
 

daft009

Established Member
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Joined
Feb 21, 2014
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Cost / value analysis will always vary user to user - still value to me for all the business exps where supplier does not have merch facility or charge higher merch fees than 1.3%
If only they made getting the invoice automatic like the others.. Can't find that option
 

Jstr

Newbie
Joined
Nov 17, 2018
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Guys, what's this "@ferni" business? I have read a couple of times now. As far as I can tell, Ferni is a user here on AFF? And he runs a separate business similar to RP but with lower rates? Is this legitimate? Complete with tax invoices and everything? Online payment gateway?
 

get me outta here

Senior Member
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Joined
Nov 18, 2011
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Is anything good (as ebp was), for Amex use to pay DEFT of around $8K? I don't see ebp offering an Amex option.
(It's prob a one off for me to qualify for an Amex sign on bonus).
 
Last edited:

ferni

Active Member
Joined
Nov 17, 2011
Messages
545
I registered for Payment Logic over the weekend. They're however Amex only. Their tiered structure is too pricey for my liking (tax deductible payments might be ok). Looks like an improvement on RP and might give us some hope @ferni might be able to strike a better deal :) Here's the rate sheet they sent me.
Individual Payments
From
To
Rate Excluding GST
$0.00​
$29,999.99​
2.15%​
$30,000.00​
$99,999.99​
2.10%​
$100,000.00​
$499,999.99​
1.99%​
$500,000.00​
$999,999.99​
1.89%​
$1,000,000.00​
$1,999,999.99​
1.79%​
$2,000,000.00​
1.69%​
They do have a Visa/MC service (yakpay) with more reasonable rates and you use the same login details which they've said the merchant fee is set at:

Visa and/or MasterCard processing payments 1% ex GST for Visa and 1.2% ex GST for MasterCard. Looks like EBP will have to reconsider some of their recent fee hike.
The only price bracket they beat us on is 2m + transaction..... I wonder how many of those they get? :)
 

albyd

Established Member
AFF Supporter
Joined
Apr 7, 2011
Messages
1,823
Bugger all I’d expect. It’s a Clayton’s discount.
 

maccaisking

Member
AFF Supporter
Joined
May 1, 2013
Messages
256
Flights
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Guys, what's this "@ferni" business? I have read a couple of times now. As far as I can tell, Ferni is a user here on AFF? And he runs a separate business similar to RP but with lower rates? Is this legitimate? Complete with tax invoices and everything? Online payment gateway?
Not sure about invoices as I haven’t needed them, but I had no issues using Ferni for some large amounts.
 

Tommo_Aus

Junior Member
Joined
Sep 11, 2019
Messages
27
Can these services (payment logic, B2bpay) be used for a payment as an individual? I have an ATO payment to make after some capital gains and am applying for the Qantas ultimate amex card, I'd like to put this payment towards my min spend and collect the full 1.25ppd if possible.
 

daft009

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Feb 21, 2014
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tried yakpay for the first time today with my Visa.
very smooth
they do require ABN to signup though
 

get me outta here

Senior Member
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Joined
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I used the @ferni method so that I could use my Amex Ultimate for the same reason you say here. Using Amex is not cheap, but the bonus will be paid quickly.
His site is called https://www.billcardboom.com.au/faq/BillCardBoom_UserGuide.pdf

Can these services (payment logic, B2bpay) be used for a payment as an individual? I have an ATO payment to make after some capital gains and am applying for the Qantas ultimate amex card, I'd like to put this payment towards my min spend and collect the full 1.25ppd if possible.
 

Bell21

Member
Joined
Jan 11, 2018
Messages
338
I haven't used ferni yet, but I don't think there's any doubt currently that he has the cheapest approach re AMEX- it's 1.95% including GST
 

edman

Member
Joined
Apr 11, 2007
Messages
407
Does anyone using these services have any concerns on payments being passed on to the eventual beneficiary? Not sure on the chargeback options, but given a number of frauds involving accountants taking payments for tax/bas and not passing these payments on, I am curious as to how users consider the risk.

Have used multiple payment processors in the past, and will continue to, just genuinely wanting to hear the opinion of others.
 

albyd

Established Member
AFF Supporter
Joined
Apr 7, 2011
Messages
1,823
@ferni processes using PayPal so have the PayPal protections in addition to what Amex May offer in the event of a dispute. I’ve used @ferni and have been happy. Been using EBP and signed up for YakPay (not yet made my first payment) since Amex deval.
 

Cruiser Elite

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Joined
Oct 31, 2010
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Earn rate for AMEX Plat now 1.125pts / $1 is it not? So ferni rate through AMEX would effectively be $0.0173 / pt or am I missing something?
 

Bell21

Member
Joined
Jan 11, 2018
Messages
338
Earn rate for AMEX Plat now 1.125pts / $1 is it not? So ferni rate through AMEX would effectively be $0.0173 / pt or am I missing something?
I have it as $0.0158 / point (since the $1.95 is GST inclusive), but then further reduces to $0.0114... pending your tax rate for business expenses
 

Cruiser Elite

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And how does that then compare to YP with St G at 1.1% for .825pts eff earn?

I am just trying to work out how using an AMEX is eff v Visa
 

Bell21

Member
Joined
Jan 11, 2018
Messages
338
From memory, YP (a new acronym for us!) is 1.1% gst incl, which is $0.0121, or $0.00878 cents for business expenses - it's an interesting comparison - it depends whether you value KF :) or flexible reward points! I'd love to use Diners via ferni, but paypal charges an annoying 3% fx fee which ruins the value, so I'm stuck with b2bpay for that
 

daft009

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my calculations are not matching with @Bell21
where am I going wrong?!?

payment amount
10000​
$
surcharge
1.1​
%
points per dollar
0.825​
points earnt
8250​
surcharge paid
110​
$
points earnt on surcharge
90.75​
cost of 1 point
0.013333​
without surcharge points
cost of 1 point
0.013188​
with surcharge points
Earn rate for AMEX Plat now 1.125pts / $1 is it not? So ferni rate through AMEX would effectively be $0.0173 / pt or am I missing something?
If i put CE's values above it matches, so my calculator seems right

payment amount
10000​
$
surcharge
1.95​
%
points per dollar
1.125​
points earnt
11250​
surcharge paid
195​
$
points earnt on surcharge
219.375​
cost of 1 point
0.017333​
without surcharge points
cost of 1 point
0.017002​
with surcharge points
 

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