RewardPay Alternatives

I think it best to look at raw costs and disregard GST / Tax implics - some people can claim the GST or both - others neither - some others entire cost - hence raw figures are all ever look at
 
daft009 said:
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

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
Click to expand...

Hi - I'll have a look at this this evening and spell-out my working - btw, I'm using a business tax rate of 27.5%
 
Cruiser Elite said:
I think it best to look at raw costs and disregard GST / Tax implics - some people can claim the GST or both - others neither - some others entire cost - hence raw figures are all ever look at
Click to expand...
Sorry - I omitted to explicitly mention an assumption - I'm pretty sure only did calculations with business expenses in mind (as GST is irrelevant then), as if you can't claim GST / business expenses, then in my book, none of the online payment points options are great value presently (eg, YP is over 1.3 cents / point), so that's why I don't work on raw costs --- EBP used to work for raw costs (personal expenses), but sadly, those 0.8% days are over :( - as per message to Daft009, I'll spell out calculations this evening, so that YMMV, each can work from their own parameters!
 
Your calculation was fine - I misquoted something. Below is the table I use :) - let me know if something isn't clear and I'll repost with changes
1574435711631.png
 
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Isn't 2.20% (inc GST) better than the bottom tier of RewardPay? And if I'm reading correctly, it's not limited to business payers?
 
Actually I just saw this:

Sniip Amex.jpg

If it's dependent on the biller, what the hell is the point? What do Sniip bring to the table?
 
Ferni method seems to be down, issues with PayPal unfortunately. Don't know how long it'll be out for...
 

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