News Summary

• PayRewards, the US arm of Pay.com.au, has launched with $28M in funding and a promise that bank transfers which currently earn nothing can earn something.
• The pricing is refreshingly plain.
• There is no monthly platform fee, and on a bank transfer a business pays 1.75% to earn one point per dollar.
• The business gets the float on its card, keeps its own card rewards, and collects PayRewards points on top, which the company calls the Double Dip.