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Verbatin

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1%? cardup cant make money if the fee is 1%. I think we all need to be reasonable as 1% is definitely not sustainable for them

I am a biz user and they are charging me 0.99% for rental (expiring this month), 1.45% for supplier invoice (Visa card only) and 1.99% on payroll


F1ngolf2012 said:
With the reduced bank interest rates/cost of fund, Cardup/iPaymy needs to up their game and reduce the fees to drive volume. I used them monthly in 2019 and now I completely stopped despite them calling me regularly to offer special rates. I told them their fee needs to be aro 1% before I consider.;)
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F1ngolf2012

F1ngolf2012

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Verbatin said:
1%? cardup cant make money if the fee is 1%. I think we all need to be reasonable as 1% is definitely not sustainable for them

I am a biz user and they are charging me 0.99% for rental (expiring this month), 1.45% for supplier invoice (Visa card only) and 1.99% on payroll
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Payment is transaction based and highly automated. While it is a scalar business, the sweet spot is to drive the volume of transaction to achieve better margin coverage for the fixed cost. Take a look at Paypal and Square.;)
 
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fone

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Verbatin said:
1%? cardup cant make money if the fee is 1%. I think we all need to be reasonable as 1% is definitely not sustainable for them

I am a biz user and they are charging me 0.99% for rental (expiring this month), 1.45% for supplier invoice (Visa card only) and 1.99% on payroll
Click to expand...

I don't think they lose money either. Payroll eligible for 1.45% also.
 
revhappy

revhappy

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Anybody here uses CardUp with UOB One to pay their house rent? My rent is $1800, so it is just nice to fit the 5% 2000 per month spend on UOB One, but I want to make sure there is no fine print.
 
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fone

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revhappy said:
Anybody here uses CardUp with UOB One to pay their house rent? My rent is $1800, so it is just nice to fit the 5% 2000 per month spend on UOB One, but I want to make sure there is no fine print.
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Cardup rent is usually 6513, so is excluded. Unless you can make them charge under "Misc payments"
 
revhappy

revhappy

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fone said:
Cardup rent is usually 6513, so is excluded. Unless you can make them charge under "Misc payments"
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Huh! Are you sure? Then what is the point of using Cardup. Their website promotes UOB One for the 5% rebate.
 
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fone

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revhappy said:
Huh! Are you sure? Then what is the point of using Cardup. Their website promotes UOB One for the 5% rebate.
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No point for me to reply you further if you do not trust me, you can always try to charge and check MCC yourself.
 
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natnaes

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Verbatin said:
1%? cardup cant make money if the fee is 1%. I think we all need to be reasonable as 1% is definitely not sustainable for them

I am a biz user and they are charging me 0.99% for rental (expiring this month), 1.45% for supplier invoice (Visa card only) and 1.99% on payroll
Click to expand...

Are those rates with guaranteed miles or they cannot guarantee? I've been told by their reps that for guaranteed miles earning txns they cannot go so low.

They can do cheaper rates but at your own risk of not getting miles.
 
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natnaes

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revhappy said:
Dont get me wrong. It is not about trust. It is because of conflicting information. CardUp site updated 4 days ago says UOB One is eligible:

https://carduphelp.zendesk.com/hc/e...end-on-CardUp-earn-rewards-on-my-credit-card-
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Doesn't hurt to confirm with cardup before charging your card, their customer service team is very responsive. UOB is one of cardup's major partners so i doubt they will exclude cardup, seems to be counter-productive to their own marketing.
 
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fone

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revhappy said:
Dont get me wrong. It is not about trust. It is because of conflicting information. CardUp site updated 4 days ago says UOB One is eligible:

https://carduphelp.zendesk.com/hc/e...end-on-CardUp-earn-rewards-on-my-credit-card-
Click to expand...

For normal transactions, yes. MCC is 7399. You'd have to specifically ask them for MCC for rent payments.

natnaes said:
Are those rates with guaranteed miles or they cannot guarantee? I've been told by their reps that for guaranteed miles earning txns they cannot go so low.

They can do cheaper rates but at your own risk of not getting miles.
Click to expand...
Well, I always ask for the MCC with promo rates, then go check the card myself. No use asking them, that is their standard reply.
 
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