Best Rewards App of the Year 2023: heymax

Fintech has been heating up over the years and 2023 saw multiple interesting contenders entering the space. As such, to recognise apps that may not necessarily be wallet apps but still provide good value to users, what used to be “Wallet App of the Year” is now “Rewards/Wallet App of the Year”.

The winner? Say hey to heymax.


New users

  1. Sign up: 500 Max Miles
  2. Make 3 confirmed transactions and verify phone number: 500 more Max Miles

Works like ShopBack but gives miles on top of your usual card rewards. Miles can be used to redeem gift cards, airline miles and hotel loyalty points.

What is heymax?

At its core, heymax is a website that allows you to search up the Merchant Category Code (MCC) of many retailers you might transact with so that you can determine the best card to use for a particular expense. In the world of credit card rewards, such an app is immensely useful, allowing you to more reliably get the high earn rate of your credit cards.

Previously, such a role was played by Visa’s Supplier Locator which was the go-to tool until it stopped being available publicly. heymax handily plugs this gap, providing an easy and fast way to figure out MCCs.

If this was all heymax did, it would at best be a useful though unremarkable bullet point in my guide to picking the right credit card to use. To secure its Star of Sethisfaction for Best Rewards App of the Year, more needed to be done, and heymax did do quite a bit in 2023.


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Other functionalities

While this post is deliberately not sponsored, I have written two sponsored posts for heymax before. One was for its moonshot of creating a rule-them-all card, and the other for its shopping feature.

The foray into making Max Card is an interesting and utterly ambitious one. Whatever has been teased and unveiled is entirely amazing to the point of being magical. This is also perhaps what makes it so questionable whether the project would ever materialise.

Max Card has since replaced its original Q4 2023 release date with “launching soon” and you can still join the waitlist, but I would encourage you to look at the other feature heymax really did launch in 2023 instead.

Shop with Max

If you are familiar with ShopBack, heymax’s Shop with Max feature is easily understandable – just replace “cashback” with “miles”. Essentially, start your purchasing journey on heymax’s website, click through their links, and you will be awarded Max Miles on top of your usual credit card rewards when you make your purchase. For those who like miles better than cashback, this would no doubt entice them to switch over.

Even for those who like cashback, some merchants like Singapore Airlines aren’t even on ShopBack, so some additional rewards is better than no rewards at all. In fact, Max Miles can be used to redeem for various forms of gift cards, making it almost like cashback.

Personally, in the past few months I have made it a habit to compare between ShopBack and heymax before making my purchases, and as an existing Shopee/Lazada user I have found that heymax gives a significantly better earn rate. This may hold true for online places you shop at.

A good referral programme

To top it off, heymax has a good referral programme – get 500 Max Miles when you sign up with my link, and get 500 more when you make 3 confirmed transactions of any amount and verify your phone number.

Rewards and wallet apps are a tough space to be in

Based on my limited knowledge of the industry, starting an app relating to personal finance and rewards is a challenging endeavour. Margins are slim and competition is fierce, and we’ve certainly seen companies try and fail. Those that survive often cut rewards to the bone, greatly diminishing any value they once provided for users.

Would heymax die a hero, or live long enough to see itself become a villian? These are among the possible not-so-distant futures for my pick for Best Rewards App of the Year 2023. How would heymax fare over 2024 and beyond? Stay subscribed to get updated to any developments.

View the other winners from 2023

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