Pay your business rent by credit card and reap the rewards
By RewardPay
3 min read
Pay your business rent by credit card and reap the rewards
When your business premises belong to someone else, rent is usually a significant part of your ongoing monthly expenses. Warehouses, office space and retail locations can easily cost tens of thousands of dollars every year. You probably know this already, but did you know RewardPay lets you pay business rent with your Amex credit card, […]
When your business premises belong to someone else, rent is usually a significant part of your ongoing monthly expenses. Warehouses, office space and retail locations can easily cost tens of thousands of dollars every year. You probably know this already, but did you know RewardPay lets you pay business rent with your Amex credit card, even if your landlord or property manager doesn’t accept Amex ?
RewardPay is a secure online portal that receives payments from your Australian-issued Amex card, then pays your rent or other bills on your behalf. Not only does this offer the cash flow flexibility of your card’s interest-free period, it also gives you American Express membership rewards points on each and every payment.
RewardPay brings an upside to paying business rent
Managing your expenses and paying your bills is usually one of the least rewarding sides of running a business. But when you’re earning valuable rewards each and every time, it feels a lot sweeter.
With RewardPay you can maximise your points-earning potential, then use your American Express Membership rewards program to redeem them for a wide range of benefits. The various Amex rewards let you exchange points for handy things like flights, accommodation, rental cars, popular gift cards and more.
How does RewardPay work?
There’s nothing sneaky or underhand about RewardPay. It’s a legitimate way to use an Amex card for business expenses, even when the payee isn’t set up to receive them. It also ensures you get the full reward allocation when paying an organisation that only qualifies for partial rewards, such as the ATO.
To pay your rent, you simply set up a free RewardPay account online then add your landlord’s details, the amount to pay and your Amex card information. We process your card payment and pay your landlord via your choice of electronic funds transfer (EFT) or BPAY.
Our systems prioritize security throughout. They employ end-to-end encryption and comply with PCI Data Security Standards.
“I love the portal. And then what gives me comfort is it still gives us the security we need as a business doing payments online.” Neil. Infusion 360
Enhance your cash flow with a 50-day interest-free period
Another benefit of paying your rent through RewardPay is the flexibility credit cards offer for managing your cash flow. American Express credit card transactions come with up to 50 days of interest-free credit. Every time you pay your rent with RewardPay, you can choose to reimburse your credit card immediately or any time during the interest-free period. This can help you to seize a good deal or clear a more urgent expense, without visiting the bank or paying interest on an overdraft.
“The biggest reason why I joined RewardPay was because it gave me the flexibility of maybe another 50 some days of cash flow without having to apply for a loan to the bank. So everything I get during the week, I pay that week. From the business point of view, it’s been great.” Luciano Schettini, Pastabilities.
We chose American Express as our credit card partner with you in mind. In Australia, Amex is known for great reward points earning rates. And with RewardPay you can access these rates even when someone normally requires another payment method, such as a direct bank deposit.
Another important benefit of Amex is the choice they provide when it comes to finding a card that suits your needs. There are five personal card options and another five for business. Both groups include Platinum, Explorer, Qantas and Velocity (Virgin Australia) options. There’s also a Gold card for business and a Low Rate card for personal customers.
What does it cost to use RewardPay?
The financial benefits available through RewardPay provide a strong return on the modest transaction fees involved. Thousands of Australian businesses have run the numbers, given RewardPay a try and now use it to pay most of their business expenses. Obviously the points you earn will depend on how much you process through RewardPay, but our fees are a small percentage of each transaction, so it stays in balance. Here’s how it works.
There’s no set up fees. After registering as a RewardPay user you get immediate access to the easy intuitive dashboard to set up payees and start making payments.
For each individual transaction up to $20,000, we charge a 2.15% + GST fee. This is normally equivalent to 1.61% after deducting tax and GST on the fee as a business expense (check this with your accountant for your business).
If your total monthly business expenses came to $20,000 (rent, ATO payments and other general expenses) you could earn 400,000 + Amex points each year.
At an effective rate of 1.61% for each payment made through RewardPay, your fees would add up to $3,864 a year. That might seem like a lot, but the Amex points earned would have a flight redemption value of about $8,000. And that’s after accounting for the usual surcharges, fees and taxes that come with travel bookings.
Getting started with RewardPay before your rent is due
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When you lodge your BAS (business activity statement) and there’s GST to pay, RewardPay makes sure you’re rewarded for every dollar that goes to the Australian Taxation Office. It’s not a hack or a loophole. It’s a legitimate and transparent process that ensures you get American Express membership rewards points for GST, PAYG withholding tax, […]
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Signing up is free, takes around 5 minutes, and there are no setup fees or ongoing obligations. Click here to register. You will need your ABN, email address, and mobile number. When creating your password, make sure it is unique to RewardPay and stored somewhere safe. Once registered, check your email to verify your email address, then log in and complete a one-time identity verification. Once verified, your account is ready to start making payments and earning rewards.
RewardPay offers three subscription tiers. The Free tier has no platform fee and you only pay a processing fee per transaction. The Silver tier ($79/month) and Gold tier ($159/month) offer progressively lower Amex transaction rates, making them well suited to higher volume businesses. Visa, Mastercard and Bank payment fees are the same across all tiers. All platform fees are billed 3 months in advance and processing fees are a deductible business expense. See our full pricing breakdown here.
RewardPay supports payments to any Australian business with an active ABN – including suppliers, the ATO, superannuation clearing houses, rent, contractors, marketing, utilities, equipment and accounting. Payroll payments are also supported via Visa, Mastercard or Pay-by-Bank. Some restrictions apply – see the RewardPay Terms & Conditions for details.
Still have questions? Chat with us.