The Singapore fintech that lets you pay the bills cards were never meant to touch - rent, salaries, taxes and supplier invoices - and get rewarded for it.
Founded 2016 · Headquartered in Singapore · ipaymy.com
There is a problem almost every business and household knows but rarely names: the biggest, most predictable payments - rent, payroll, taxes, supplier invoices - are exactly the ones that won't take a credit card. ipaymy was built to close that gap.
Founded in Singapore in 2016, ipaymy is a payments platform with a deceptively simple pitch. Charge a bill to your existing credit card, and ipaymy routes the money to the recipient by bank transfer on the other side. The landlord, the tax office, the overseas supplier - none of them need to accept cards or change how they operate. They simply receive the funds, often as soon as the next business day.
For the payer, three things happen at once. Cash that would have left the account immediately can now sit for up to 55 days of interest-free credit, easing the perennial squeeze on working capital. The expense earns whatever points, miles or cashback the card offers, so routine costs become a source of rewards. And recurring payments can be scheduled once and forgotten.
What began as a consumer convenience - a way to pay rent on a card - has grown into a broader payments business spanning personal expenses, small-business operations, B2B supplier settlement and cross-border transfers. The company now operates across Singapore, Malaysia, Hong Kong and Australia, and is licensed by the Monetary Authority of Singapore as a Major Payment Institution.
The mechanic is old-fashioned in the best sense: ipaymy doesn't ask the world to adopt a new behaviour. It meets people at the transactions they already dread and quietly removes the friction.
ipaymy's users fall into two broad camps. On one side are individuals - most visibly, tenants who want to pay rent by card to earn miles or smooth a tight month. On the other are small and medium businesses, the core of the company's focus, using the platform to pay salaries, suppliers, taxes and invoices while stretching their days-payable and banking rewards on spend they can't avoid.
Co-founder Chrystie Dao-Szabo spent 22 years in international banking watching clients wrestle with the same problem - money arriving late and leaving early. Cash flow, not ambition, is what most often breaks a small business. ipaymy's entire product line is an answer to that timing problem.
Pay rent, salaries, invoices, supplier bills and taxes with an existing credit card - even where cards aren't accepted - to free up cash and earn rewards.
Automated invoicing and receivables for SMEs: create, send and track invoices with reminders and late-fee notices, accepting cards, transfers, cash or crypto.
Pay non-card-accepting suppliers with commercial cards, unlocking working capital and up to 55 days of interest-free credit.
Reach overseas suppliers and service providers across 190+ countries and 130+ currencies using a credit card, at lower fees.
Tailored card-payment and receivables solutions for larger organisations with more complex needs.
In its home market, ipaymy competes with a small cluster of card-payment routers - CardUp, RentHero and Rently among them - plus traditional bank GIRO and transfer methods. Like its peers, ipaymy takes card details, charges a percentage fee, and forwards the money, sitting outside the transaction itself.
What distinguishes it is breadth. Where rivals often specialise in a single use case such as rent, ipaymy spans personal, SME, B2B and cross-border payments, layers on the Fetch receivables platform, and operates as a regulated Major Payment Institution across four markets. In fintech, that boring compliance moat is often what separates the platforms that scale from the ones that don't.
The model is straightforward. ipaymy charges a percentage processing fee on each card payment routed through the platform - typically in the region of 2 to 3 percent. Users accept the fee in exchange for what they get back: interest-free credit, deferred cash outflow, and card rewards on spend that could not otherwise touch a card. Revenue scales with payment volume across every segment the company serves.
The expertise behind it is notable. CEO Olivia Leong arrived from the top of the card industry - she led B2B payment solutions for Asia Pacific at Visa and held product and acquisition roles at American Express. Founder Ethan Dobson, now Executive Chairman, brought 15+ years in early-stage tech. That pairing - deep card-network fluency plus startup pragmatism - shapes a company that understands both the rails it rides and the customers it serves.
Ethan Dobson and co-founders launch a platform to let people pay non-card expenses with a credit card.
The company raises early-stage capital as it builds out its payments platform across Asia.
ipaymy raises roughly US$3.65M with backing from BEENEXT and DG Daiwa Ventures, reported at a ~US$25M post-money valuation.
ipaymy debuts an automated invoicing and receivables platform for SMEs, adding support for card, transfer and crypto payments.
The former Visa and American Express executive steers growth, partnerships and expansion across four markets.
ipaymy lets Singaporeans put their rent and even their taxes on a credit card - and earn miles for it.
CEO Olivia Leong ran B2B payment solutions across Asia Pacific at Visa before joining the startup side.
Co-founder Chrystie Dao-Szabo's 22 years in banking - watching clients battle cash flow - inspired the mission.
Fetch will nudge your slow-paying clients for you, with automated reminders and late-fee notices.