ipaymy offering 1.9% fee with Amex cards – buy miles from 1.43 cents

Card payments provider ipaymy has a great offer for American Express cardholders, which might time perfectly with your annual IRAS Income Tax payment among other expenses, with a fee of 1.90% to 1.99% on up to three payments between now and late October 2023.

That allows you to generate miles from 1.43 cents each with certain credit cards issued in Singapore – which is great for Amex products since they tend to levy a high fee relative to Visa and Mastercard products.

Under this deal, new ipaymy customers get a 1.90% fee on a one-time Amex payment, while existing customers get a 1.99% fee on up to three payments, between now and 26th August 2023.

  Amex x ipaymy offer

In case you missed the news, ipaymy started accepting payments with American Express cards back in early 2023, with a market-leading 2.25% fee for regular payments.

Eligible cards

Eligible American Express cards for the purposes of this offer are those issued in Singapore by American Express DBS and UOB, though do remember that UOB no longer offers rewards for ipaymy transactions.

You’ll therefore be looking at the following cards when earning miles through this ipaymy offer.

• AMEX Gold Card
• AMEX Platinum
• AMEX Platinum Credit Card
• AMEX Platinum Reserve Credit Card
• AMEX Rewards Card
• AMEX Singapore Airlines KrisFlyer Credit Card
• AMEX Singapore Airlines KrisFlyer Ascend Credit Card
• AMEX Singapore Airlines KrisFlyer Gold Credit Card
• AMEX Singapore Airlines PPS Club Credit Card
• AMEX Singapore Airlines Solitaire PPS Credit Card
• AMEX True Cashback Card
• DBS Altitude AMEX Card
• DBS Black AMEX Card
• The Centurion Card

1.9% for new-to-ipaymy users

If you’re new to ipaymy, you can take advantage of a 1.9% fee on a one-time domestic payment with a Singapore-issued American Express card, using the promo code AMEXNEW.

AMEXNEW			2.25%	1.90%
One-time payment with a Singapore-issued American Express card (new users).

Terms and conditions for this offer are as follows:

• Promo code only valid for new ipaymy users for payments made on a Singapore personal account
• Payment must be made with eligible Singapore issued American Express Cards
• Promo code valid for a one-time payment
• Charge date must be on or before 26th August 2023
• Promo code cannot be retroactively applied

1.99% for existing ipaymy users

Existing ipaymy users can tap into a 1.99% fee offer using promo code AMEXSG with their American Express card, which is also open to new users after utilising the AMEXNEW code detailed above.

AMEXSG			2.25%	1.99%
One-time payment with a Singapore-issued American Express card (existing users).

Terms and conditions for this offer are as follows:

• Promo code only valid for payments made on a Singapore personal account
• Payment must be made with eligible Singapore issued American Express Cards
• Promo code valid for a one-time payment
• Promo code valid for three payments
• Charge date must be on or before 26th August 2023
• Promo code cannot be retroactively applied

The beauty of this one is that you can use it on three separate one-time payments between now and 26th August 2023.

Cost per mile

Here are some cost per mile examples for selected Singapore-issued American Express credit cards with these promotional deals.

Card	Mpd	New User (1.90% fee)	Existing User (1.99% fee)
Amex KF PPS	1.3	1.43¢	1.50¢
Amex KF Solitaire PPS	1.3	1.43¢	1.50¢
KF Ascend	1.2	1.55¢	1.63¢
DBS Alt Amex	1.2	1.55¢	1.63¢
KF Blue	1.1	1.70¢	1.77¢
Amex Centurion	0.98	1.90¢	1.99¢
Amex Platinum Charge	0.78	2.39¢	2.50¢
Amex Platinum CC	0.69	2.70¢	2.83¢
Amex Platinum Reserve	0.69	2.70¢	2.83¢

How it works

Once you’re logged on to ipaymy you’ll be presented with the ‘Dashboard’ screen. To set up your payment, click ‘Make payment’ in the top right.

Follow the process, which includes specifying your payment date and uploading evidence of your payment, then at the Payment Details screen, you’ll select which credit card you wish to use, then the regular ipaymy fee of 2.25% will be displayed.

Here’s where you’ll enter the AMEXNEW or AMEXSG promo code, which will then reduce the fee to 1.9% or 1.99% respectively provided you have opted to pay with a Singapore-issued American Express card.

Good income tax opportunity

If you’ve get to pay this year’s IRAS income tax bill, this promotion could be a great opportunity to do so while earning miles with your American Express card, assuming you don’t have a Visa card you can use with ipaymy’s 1.75% promotional fee (TAX2023 promo code).

We’ve updated our full guide to earning miles with your 2023 income tax payment to include this new offer, to help you see which card and method offers the best deal this year.

Earning miles on your 2023 Singapore income tax bill READ OUR GUIDE

Earning miles on your 2023 Singapore income tax bill READ OUR GUIDE

ipaymy already has the most competitive year-round rate for payments made using American Express cards in Singapore for expenses like rent, insurance and taxes that don’t normally allow payment by credit card, or exclude rewards earning when doing so.

During this promotion, the usual 2.25% rate (already 15% cheaper than CardUp) is reduced to 1.9% for new users on a single payment, and 1.99% for existing users on up to three payments, between now and 26th August 2023.

That’s a great opportunity to earn miles with an Amex card for a variety of expenses over the next few months, including income tax payments if yours is still due.

(Cover Photo: Shutterstock)