Pay.com Raises $28 Million to Bring Rewards Platform to US Businesses

Australian fintech Pay.com is entering the U.S. market under the name PayRewards after a successful $28 million Series E funding round. This platform offers a unique proposition for business owners: the ability to earn rewards on almost every type of outgoing payment, including traditional bank transfers and credit card transactions. For retailers and operators, this means overhead costs like rent, inventory, and utility payments can now contribute to a rewards balance, effectively turning necessary business expenses into redeemable value. The platform acts as a bridge for businesses that want to maximize their cash flow and loyalty benefits without changing their existing banking relationships. As financing and payment costs continue to rise, tools like this allow merchants to recoup some of the 'lost' costs associated with B2B payments. The $70 million total capital raised by the company suggests a strong push to compete with established U.S. commercial card and payment providers. For business owners, this signals a shift toward more competitive B2B payment terms where the merchant, not just the bank, benefits from the transaction volume.

Source: PYMNTS

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