iPayMy’s targeted 1.88% payment fee and my 10X conundrum

To 10X or not to 10X?

For the longest time I thought that bill payments startup ipaymy had retreated from the B2C segment of the market, preferring instead to focus their B2B side.

It seems however that the company has switched up its strategy recently. Last week, existing ipaymy customers received an eDM reminding them that taxes could be paid through ipaymy. I’m pretty sure this isn’t a new feature but what got my attention was a promo code they sent along today offering a discounted 1.88% transaction fee (usually 2.6%) for 3 payments in June.


Word on the Telegram Group is that there are a few targeted promo codes going around, the other one being JUNE188. The code has to be used by 30 June, so it’s come really late in the month and a quick decision needs to be made. As mentioned, these codes are targeted, so if you didn’t receive an email it’s not going to work with your account.

10X or no 10X?

Why I’m on the fence about taking advantage of this is the eternal question of 10X or no 10X. Here’s the math:

If ipaymy qualifies for 10X:

  • Pay $1,000, Fee of $18.80 –> Total Bill of $1,018.80, Miles of ~4,075
  • Cost per mile= 18.80/4,075=0.46

If ipaymy doesn’t qualify for 10X:

  • Pay $1,000, Fee of $18.80 –> Total Bill of $1,018.80, Miles of ~408
  • Cost per mile= 18.80/408=4.6

In case you’re wondering which card I’m talking about, a simple search on the Telegram Group will cue you in- there are conflicting reports about whether or not 10X is possible. If nothing else, I hope you do see the high risk, high return nature of 10X cards.


I could always wuss out and go with a safe card like the UOB PRVI Miles, in which case

  • Pay $1,000, Fee of $18.80 –> Total Bill of $1,018.80, Miles of ~1,426 (actually slightly less because of UOB’s rounding down policy)
  • Cost per mile= 18.80/1,426=1.32 cents

1.32 cents isn’t a half bad price to buy miles, all things considered, but it’s certainly not 0.46. There is no minimum payment amount required to take advantage of this rate.


If you received this mailer and are in the market to buy miles, you’re going to have a pickle on your hands. It’s clearly not worth buying miles at 4.6 cents each, so do you play it safe and go with a 1.32 cent option? Or do you go for glory but risk losing out?

Decisions, decisions…

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There’s a new (targeted?) promo by ipaymy – 1.99% fee for the next five payments in July. This offer expires on 31st July.

Can anyone confirm if CR earns 10x on ipaymy?


is this still working and CR gives 10x?

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