CardUp and ipaymy Increasing Fees From Mid-June 2026
In emails sent to their users, CardUp and ipaymy have announced increases to their service fees happening from mid-June 2026 onwards. This impacts those who use these payment services to earn cashback or miles for their bill payments, so read on for details.
Summary of Changes
| CardUp | ipaymy | |
|---|---|---|
| Change in Rates | One-time Payments 2.60% → 2.90% Recurring Payments 1.85%* → TBC | One-time Payments 2.40% → 2.95% Recurring Payments 1.85%* → 2.6% |
| Card Types | All card types | Only affects Visa |
| Effective Date | 13th June 2026 | 11th June 2026 |
*promotional rates for Visa payments
CardUp increasing standard fee to 2.9%, promotional rates to be confirmed
From 13th June 2026, CardUp will increase its standard service fee for Singapore-issued credit cards to 2.9%, up from the current 2.6%. The company states that promotional rates will also go up, but will only share details closer to the effective date.
Recurring payments will also be affected by the rate hike from the effective date onwards, though CardUp has yet to announce the new rate.
ipaymy increasing fee on Visa payments
From 11th June 2026, ipaymy will increase the service fees for Singapore-issued Visa cards for one-time payment to 2.95%, up from the current 2.40%. Recurring payments will increase from 1.85% to 2.60%.
ipaymy’s fee for Mastercard is already at 2.85%, but the company is offering targetted existing users promotional codes for Mastercard payments:
- One-time or recurring payments: 2.25% with code
SGMC225 - Tax payments: 1.79% with code
TAXMC179
Payments before the rate hike
There is currently a short window for you to make payments under the current rates as long as your payment is charged to your card before 11th June 2026 for ipaymy, and 13th June 2026 for CardUp. While ipaymy charges your card immediately, CardUp tends to take a day or two before your card is charged so take note of this.
Users are still able to set up new recurring transactions, and payments that are charged before the effective dates will be under current rates. Fees for subsequent payments after the effective change dates will go up accordingly.
New user promos
New users are still able to take advantage of sign-up promos which are currently unchanged. It’s possible to get more cashback or miles for your first payment with discounts only for new users, so I would check them out sooner rather than later.
CardUp
Pay for things that don’t accept credit cards and earn points or cashback. See the guide here.
🎁 New Users
Use code SETHISFY for reduced fee of 2.3% on the first personal payment¹ (up to S$5,000)
⚠️ Terms and Conditions
For reference only; refer to exact details in terms and conditions
ipaymy
Pay for things that don’t accept credit cards and earn points or cashback. See the guide here.
🎁 New Users
Sign up here for S$30 off transaction fee for your first payment!
⚠️ Notes
After signing up with the link, an email will be sent to you with the code.
For reference only; refer to exact details in terms and conditions
Citi PayAll promo for Q2 2026 is a good alternative
The Citi PayAll promo for Q2 2026 was already a good deal, and now looks better in comparison. Being only for Citi credit cards, not supporting certain transaction types as well as its seasonal nature makes Citi PayAll less of a perfect replacement for the above services, but it should be a great alternative for many uses cases while the promo runs.
A fuller “survival guide” soon
With promotional rates yet unknown, I’m waiting for the dust to settle a little first before pondering the value proposition of these services moving forward. As always, stay subscribed to the Telegram or WhatsApp for updates. Remember to turn on notifications or the updates may not reach you.
Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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