Press Release

Sniip takes the sting out of paying bills with the help of Google Cloud

Sniip|Google: Sniip takes the sting out of paying bills with the help of Google Cloud

Earlier this year, our development team at Sniip caught up with Google to have a chat about how Sniip has achieved scale with the help of Google Cloud.

We are very proud to share some of the story behind the building of our industry leading bill-payments platform at Sniip! (Thank you Danny Mills and Lidia Zurek). 

Our entire development team is based right here in Brisbane, Australia. We’ve included a Sniipet (😉) of the article below.

Read the full article, here

Sniip on Channel Nine’s Today Show

Sniip on Channel Nine’s Today Show

Did you catch Sniip on the Channel Nine’s Today Show? The team were having a bit of fun with our name 😉 What a hoot!

Allison Langdon to father of three Alex Cullen: “Sniip’s free!” ✂️
Karl Stefanovic: “It’s definitely going to save you money!” 👶 💸

Lucky we spell ‘Sniip’ with two i’s … but we’ll still save you money!!

Thanks Effie Zahos and Canstar.

Sniip as featured on The Today Show, 5 November, 2021. 

Sniip | BPAY Group’s open access and collaboration

Sniip rewards customers thanks to BPAY Group’s open access and collaboration

Mobile bill payments platform Sniip is allowing customers to pay their bills using American Express or Apple Pay after building a unique connection with BPAY.

The innovative service was made possible using BPAY Group’s open access and collaborative approach to new partnerships. This will cut the time and cost of connecting with the popular payment service.

“BPAY has opened up their tech capability to allow partners like us to create a superior user experience for customers wanting to access the BPAY biller network and its payment rails,” says Sniip CEO Damien Vasta.

For Sniip, it means that customers can still accrue reward points when paying bills on any credit card. The bill payment is ultimately routed through the lower cost BPAY network, which includes more than 60,000 billers. They can also choose to pay with their bank account and pay no transaction fee.

“We give the customer a choice at the front-end of the transaction as to how they want to pay. The best part is that while we are giving customers that flexibility, it does not cost the biller. The payment is arriving to the biller through BPAY in the same way that it would normally be received via a bank,” said Vasta.

Control and flexibility

It gives customers even greater flexibility to choose the account or card they want to pay bills with, on top of the control they already enjoy with BPAY.

While around 20% of consumers use direct debit to pay bills[i], there are many frustrations felt by consumers. This includes needing to update card details when they expire and getting charged more than they expected[ii].

Sniip brings the control of BPAY into one app that is not tied to a single banking institution, which may limit bill payments to its own bank accounts or a linked credit card.

“We started out thinking we needed to be an alternative to BPAY. But we realised that BPAY is just so ubiquitous and trusted by customers that we need to embrace and collaborate with them,” says Vasta.

Sniip initially launched in Queensland in 2015. But its recent decision to partner with BPAY increased the number of billers it could accept to over 60,000 and potential access to an extra 1.5 million daily bill payments.

Sniip continues to build new features

BPAY Group launched a range of APIs in 2019 and to date more than 60 companies have already used the APIs to bring the BPAY service to their customers.

“BPAY APIs are critical. It won’t be where the Sniip product ends, but it’s certainly where the product starts and where we want to really make an impact,” said Vasta.

BPAY Group recently launched two new APIs: a Submit BPAY Payment and Manage BPAY Biller, which bring real time capabilities to the service.

Sniip also offers customers enhanced features. These include the automatic importing of a bill from an email account, payment scheduling, reminders, and comprehensive receipt storage. Customers can scan their bill with the app rather than manually entering the BPAY biller code and reference number. Sniip allows customers to pay securely via face ID, fingerprint or PIN.

Sniip said it plans to include new bill payment options beyond popular credit and debit cards. This will potentially include loyalty points, bill smoothing finance (Buy-Now-Pay-Later), and cryptocurrencies. Several other innovations are also being developed to make life simpler for businesses. This will include being able to send invoices and customers being able to pay them via Sniip.

“One of the most exciting features that we’re going to be rolling out shortly is BPAY View, which will be the first time it will be made available within a ‘bank agnostic’ bill payment app,” said Vasta.

“This means that all BPAY View-enabled billers will be available to Sniip customers. They will be able to receive household bills digitally and make payment with one click,” he added.

Published by BPAY Pty Ltd (ABN 69 079 137 518) email: marketing@bpay.com.au. The BPAY Scheme is managed by BPAY Pty Limited. When you use BPAY payment products, the BPAY Scheme is paid fees relating to processing costs and BPAY Scheme membership. Contact your financial institution to see if it offers BPAY payment products and to get the Product Disclosure Statement. Any financial product advice provided by BPAY Pty Limited in relation to BPAY payment products is general advice only and has been prepared without taking into account your objectives, financial situation or needs. Before acting on such advice, you should review the Product Disclosure.

[i] RFI Payments Diary 2020
[ii] RFI Digital Banking March 2021

25 May 2021 – By Collaborative Media & Publishing

Visit article: https://bpaygroup.com.au/news/articles/sniip-rewards-customers-thanks-to-bpay-group%E2%80%99s-ope

How this app could help ease the pain of paying bills

Ease the pain of paying bills with Sniip

Hate paying bills, either because you forget them, prefer to avoid direct debits, or don’t like to manually enter the details each time?

If so, you could consider downloading the mobile payments platform Sniip, a rather unique app that’s aiming to make paying bills quicker and easier for Australians.

What is Sniip?

Sniip is a mobile app which allows bills to be digitally-scanned, stored and paid for via the app. Essentially, Sniip can scan the bill’s BPAY biller code, generating a digital bill that can be paid for through the app with the user’s stored payment method such as a credit or debit card. This saves the user from the tediousness of having to enter the biller code and account number manually, with Sniip boasting that the app lets you pay a bill in under 20 seconds.

Initially launched in Toowoomba back in 2014 by Founder and CEO Damien Vasta, Sniip has since established partnerships with Australia Post, BPAY, and also American Express. The app is unique as it is the first mobile payment solution to sit outside of the banking sector.

Customers can register to have all future bills sent straight to the app, such as:

  • Energy bills
  • Phone and internet bills
  • ATO tax bills
  • Rent and body corporate payments
  • Insurance – car, health, home and contents etc.
  • School fees
  • Rates and water
  • Car registration and more.

Sniip can connect with every financial institution and biller in Australia, and according to Mr Vasta, it represents the first real change to the payments landscape since BPAY decades earlier.

“When BPAY was introduced in 1997, its centralised online bill payment capabilities revolutionised bill payment for Australian consumers practically overnight,” he said.

“This new partnership and its bank and card-agnostic solution is designed to enhance this capability by providing Australians with a fast, simple, and seamless means to pay any bill through any bank and using any type of mobile.”

Essentially, Sniip was designed to minimise the number of steps required for a customer to pay and manage bills.

“The process is cumbersome and time-consuming and often very restrictive. We thought ‘if you can walk into a store and tap your phone or card against the terminal and make a quick payment, then why can’t you do something of an equivalent nature against a piece of paper that is your bill?’” Mr Vasta told Savings.com.au.

“We want to be the default bill payment app for every single Australian bill.”

While it’s still some way off that ambitious goal, Sniip has so far acquired about 43,000 users and is growing by about 100 customers per day. In March 2021, $12 million worth of bills were processed through the app.

“We don’t profess to make bill payments fun. What we say is we make them less unpleasant,” Mr Vasta said.

Related: See the best budgeting and savings apps in Australia

How does Sniip work?

While it might sound complicated, the easiest way to describe Sniip is to say it aggregates all payment and bank networks into one central place and lets you pay your bills from there. This means that with Sniip, you can also pay with whatever card or bank you like for whatever bill you like, regardless of any restrictions that normally exist.

“We consider ourselves to be the first customer-centric bill payments platform in the market, certainly from a mobile point of view,” Mr Vasta said.

“What if a customer has multiple accounts across different institutions and they want to switch between them in order to make a payment from one month to the next for the same biller? That’s not customer-centric, that’s bank-centric.

“We’ve aggregated the billers through BPAY and we’ve aggregated the payment sources because you can use a debit card from any institution, you can use a credit card of any kind.”

How can you use Sniip?

Sniip is available to download on either Android or Apple phones from their respective app stores and is also compatible with Apple Pay (Google Pay is planned). It’s available on iOS devices 10 or later and Android versions 6.0 or later, and can be accessed via PIN, Touch ID and Face ID logins.

Is Sniip secure?

Sniip is secure to use, encrypting and safely storing all personal data. Credit/debit card information is only sent to verified third parties at the time of purchase. Once you make a payment, the app requires you to verify your identity with your PIN or ID login.

Can you earn rewards points with Sniip?

According to Sniip’s website, credit card users can still earn exactly the same number of rewards points they would earn through regular purchases and payments. Sniip also has a direct partnership with American Express, enabling Amex customers to access the American Express Offers Program for special discounts and cashback offers.

“Amex is the best at rewarding customers for making payments with their card, and an Amex customer typically has the money to pay that bill, but they want something more for that payment than just being able to actually give someone their money,” Mr Vasta said.

“We’ve opened up that whole Amex market to customers who want to not just buy things but pay for things with an Amex, and most billers or their bank don’t allow that.

“We’ve aggregated the whole BPAY biller network for those customers so that, irrespective of whether the bill allows an Amex payment or not or whether you can pay BPAY with an Amex in your banking app Sniip makes that all possible.”

American Express cards are typically charged a higher credit card surcharge, but because of Sniip’s partnership with Amex, it claims it can offer a surcharge of 1.5%, which is the same as Visa or Mastercard.

“We consider it to be the most attractive fee for an Amex card payment in the market when it comes to paying a bill.”

What features does Sniip have?

Aside from those already mentioned (bill consolidation, secure payments, and a central location for credit card reward points), Sniip also offers a variety of features like:

  • Automatic bill scanning (it can even read your emails and pull bills from there)
  • A transactions history showing all past bills and payments
  • PDF and document storage
  • Schedules, reminders, and push notifications, to help you never forget a bill
Sniip lets you upload bills straight from your email or PDF file. Source: Sniip

“Why would someone use Sniip over their bank? Because they have choice,” Mr Vasta said.

“They can go from one bank to the next, from one card to the next; they can schedule a bill to be paid on the due date and not a day before, they can schedule the bill to make sure that they never miss an early payment discount or pay a late fee, they can pay it on the spot if they want to.”

Related: How regular reminders could save you thousands on your household bills.

Does Sniip cost anything to use?

Sniip does not charge any personal fees for customers to use it; the only costs incurred are those charged by the bank or credit card company for making payments, such as a surcharge. It’s also free to download.

“We want to be everything that you can do through a bank but more. If you’re not interested in a credit card and you want to use a debit card, it will cost you nothing to use Sniip,” Mr Vasta said.

In fact, Sniip could actually save you money, whether that’s through no longer paying late fees, or by eliminating paper bill fees. These fees are commonly charged by phone, internet and energy providers, such as:

  • AGL: $1.75 per bill
  • Origin: $1.75 per bill
  • Energy Australia: $1.69 per bill
  • Elysian Energy: $3 per bill
  • Optus: $2.20 per bill
  • Telstra: $2 per bill

Automating your payments through Sniip can help you avoid these.

Who can benefit the most from using Sniip?

Mr Vasta says Sniip has identified three key profiles of people who can benefit the most from Sniip:

  • The ‘Points Hunter’
  • The ‘Life Juggler’
  • The ‘Figure Out-er’

But According to Mr Vasta, Sniip has got something to offer every bill payer in Australia.

“We’ve built a platform that now is what I consider to be state of the art. You can use a debit card from any institution, you can use a credit card of any kind,” he said.

“We’re talking about minimising the number of steps required for a customer to pay a bill and giving them the ultimate choice as to how they pay.

“Order where there’s otherwise chaos: one central repository for receiving and paying.”

The ‘Points Hunter’
The points hunter isn’t an exclusive demographic to Sniip, but Mr Vasta says they’re someone who can get a lot of value out of it. Points hunters are those who use their credit cards for as many payments and bills as possible in order to maximise their rewards and frequent flyer points.

“They want to be able to get some type of reward for their spending, and that’s what the whole loyalty scheme mentality is about: because they feel as though they’re going to spend that much money, they would like something in return,” Mr Vasta said.

“If credit cards are used responsibly, they can still be an effective tool for managing finances.”

A common roadblock points hunters run into is not being able to use their card for certain things or not earning as many rewards points on some purchases – particularly Amex users. By consolidating every payment into Sniip and bypassing these restrictions, rewards card fans can potentially get better value from their plastic.

See also: 11 ways to maximise your rewards points

The ‘Life Juggler’
The life juggler is another type of user that is simply too busy to manage all their finances manually, and who uses Sniip simply because “it gives them order in their life”.

“They’ve got a busy home life, they’re juggling family, they’re juggling kids, they’re juggling their own work, they’re juggling all of the issues associated with managing that work-life balance,” Mr Vasta said.

“But yet when you receive an email bill with a static PDF attachment that doesn’t actually connect you to a payment, it’s something you put to one side because it requires time, and time is something that life juggler has very little of.

“So Sniip is designed to minimise the amount of time required to pay and to manage a bill. Once the bill comes in with Sniip you can schedule it to be paid on the due date and never have to worry about it again.”

Some of the other features Sniip has, like record-keeping and reminders, can also help bill jugglers get by more easily.

The ‘Figure Out-er’
The figure out-er is the final key user, and they’re more of the new breed of bill payer: someone who expects paying to be easy and flexible.

“To them, the whole ability for people to actually pay is generally mobile intuitive, so they say: why is it that we’re asked to be doing so much manual entry of digits in order to affect banking payments?” Mr Vasta said.

“They need to know it’s secure but they need to make it quick, and Sniip makes bill payments quick.”

For this new generation of payer, credit cards are much less popular, while payment methods like buy now, pay later (BNPL) and newer digital banks are on the rise.

With Sniip, neobanks like 86 400 and Up Bank can all be loaded into the Sniip wallet, as can BNPL platforms like Afterpay and Zip.

“We’re effectively giving people the opportunity to merge their buy now pay later retail habits into their non-discretionary bill payment habits.”

Related: Why is BNPL so popular with younger generations?

Outside of these three groups, Mr Vasta said Sniip had seen unexpected success with elderly Australians and even some customers with disabilities. March 2021 data from Sniip shows 13% of its customers were over 65.

“That tells me that we are easy to use, and I believe that generation is actually more comfortable with a smartphone than they are with a PC,” he said.

“This whole user friendly, intuitive smartphone era has allowed them to actually start using technology in a very easy to use, understandable manner.

“We’ve even got some people who suffer from dyslexia that actually like using our app because they don’t have to worry about getting the numbers in the wrong order, whereas they’d have to manually enter them otherwise.”

Are there any negatives to using Sniip?

Perhaps predictably, Mr Vasta said he “doesn’t see any downside to using Sniip”.

“It’s an alternative payment option: it’s mobile, it’s cheaper than the others, it’s easy for us to implement and it shows that we’re being innovative and we’re responding to the shift from a desktop environment to a mobile environment.”

While it’s not surprising the founder would say such a thing, it’s hard to argue with his assessment.

Although still small, Sniip can already be used by pretty much anyone from any bank or credit network, is free to use (and in the case of American Express can actually be cheaper to use), and aims to make paying bills easier. For some users, it could actually let them pay their bills where they couldn’t before.

To nitpick, one potential issue that could arise from using Sniip is potentially spending too much with a credit card for the sake of points, particularly if it’s a high-interest card. Another is you could end up relying on it too much, so if anything were to ever go wrong, having to pay a manual bill again could prove difficult.

But those are stretching it. Sniip seems to go out of its way to responsibly consolidate people’s bills and make payments easier for them in a secure way.

Savings.com.au’s two cents

Savings.com.au regularly highlights apps that help people with their money, and Sniip so far appears to be one of the best of them. In an increasingly digital world, staying on top of bills and money can be difficult and frustrating, so an app that manages these for you sounds like a great idea.

It’s no secret that Australians struggle with bills, spending 40% of their monthly income on them on average. Around two-thirds of Australians experience ‘bill shock’ at some point, while more and more are choosing to delay their bills out of necessity. An app like Sniip could help mitigate these issues.

Ultimately you’ll have to download the app and give it a try for yourself, but Sniip really does seem like it has something for everyone.

Visit article: https://www.savings.com.au/credit-cards/what-is-sniip-app-revie

FinTech Australia Finalists Announced for “Finnies” Awards

FinTech Australia Finalists Announced for “Finnies” Awards

FinTech Australia has announced the 2021 finalists for its annual “Finnies” award. According to an email, the group received 290 award entries across 20 categories. The category winners will be announced in person this year on June 9, 2021, at The Forum in Melbourne.

FinTech Australia CEO, Rebecca Schot-Guppy, stated:

“We are thrilled with the quality of applications and the finalists, a testament of the growth, and strength of the Fintech ecosystem. We are excited to celebrate the hard fought achievements of the ecosystem at this year’s Finnies.”

For 2021 the group will announced its inaugural Hall of Fame inductees to commemorate two companies that have made a lasting impression on the Australian Fintech industry’s overall development.

This year’s finalists are as follows:

BEST WORKPLACE DIVERSITY
Adatree
Bizcap
Brighte
CampaignAgent
Fupay
loans.com.au
TRAction

EMERGING FINTECH LEADER OF THE YEAR
Alex Harper, Swyftx
Belinda Hogan – 86 400
Ivan Tchourilov, OpenMarkets Group
Jessica Joyce, Fupay
Jill Berry, Adatree
Patrick Coghlan, CreditorWatch
Rhys Davis, Fresh Equities
Stephanie Gillon, Flare

FEMALE FINTECH LEADER OF THE YEAR
Carolyn Breeze, GoCardless
Jessica Joyce, Fupay
Jill Berry, Adatree
Joanne Edwards, WISR
Jodi Stanton, Rush Gold
Naby Mariyam, Coverhero
Natalie Dinsdale, Athena Home Loans
Simone Joyce, Paypa Plane

OUTSTANDING FINTECH LEADER OF THE YEAR
Alex Harper, Swyftx
Ben Williamson, Fresh Equities
Carolyn Breeze, GoCardless
Christian Westerlind Wigstrom, Moonova
Clayton Howes, MoneyMe Group
John Winters, Superhero
Katherine McConnell, Brighte
Simone Joyce, Paypa Plane

EXCELLENCE IN ESTABLISHING MARKET PRESENCE: GLOBAL
Openpay Group Limited
Rush Gold
Verrency
Wallet of Satoshi

EXCELLENCE IN INDUSTRY COLLABORATIONS & PARTNERSHIPS
Fillr
Flare
Fupay
Look Who’s Charging
MoneyMe Perks – Freestyle virtual Mastercard & Cashrewards
CampaignAgent
Rush Gold Bullion Mastercard by Rush Gold and EML Payments
Sniip partners with American Express and Apple Pay

EXCELLENCE IN BUSINESS LENDING
Banjo Loans
Business Fuel
Butn
GetCapital
Prospa
OnDeck Australia
Radium Capital
Valiant Finance

EXCELLENCE IN CONSUMER LENDING
Athena Home Loans
Brighte
Fupay
loans.com.au
MoneyMe Ltd
Tic:Toc
Wisr
86 400 smartbank

EXCELLENCE IN PAYMENTS (including Remittance/FX)
DiviPay
GoCardless
Medipass
Monoova
Split Payments
Verrency
Wise
Zip

EXCELLENCE IN BLOCKCHAIN/DISTRIBUTED LEDGER
AgUnity Pty Ltd
BOULEVARD Global Ltd.
CommChain Pty Ltd
Hutly
Meeco
Oxen
Pellar Technology
RelayPay

EXCELLENCE IN CRYPTO AND DIGITAL CURRENCIES/WALLETS/EXCHANGES
Binance Australia
Cointree
Dacxi Australia
e-Pocket Pty Ltd
Elbaite
Independent Reserve
Swyftx
Wallet of Satoshi

EXCELLENCE IN INSURTECH
Coverhero
Digital Agriculture Services (DAS)
FreightSafe
Open Insurance
uBind
UpSure – Innovators Insured

EXCELLENCE IN REGTECH
Adatree
Arctic Intelligence
ComplyAdvantage
Fenergo
FrankieOne
LAB Group
TRAction

EXCELLENCE IN WEALTH MANAGEMENT (INCLUDING PFM AND ROBO)
Fresh Equities
Frollo – PFM platform
Fupay
myprosperity
Raiz Invest
Sharesight
Superhero
Stockspot

EXCELLENCE IN SUPPORT SERVICES
CreditorWatch Online Credit Risk Services
eftpos Payments Australia Limited
King & Wood Mallesons
K&L Gates
Startupbootcamp Australia 2020 Program
Stone & Chalk
The Fold Legal
UK Department for International Trade

EXCELLENCE IN OPEN DATA
Adatree
Basiq
Biza.io Platform:
Envestnet | Yodlee
Frollo

DEAL OF THE YEAR
NextGen.Net & Frollo
Quadpay & Zip
Rakuten Inc. & Fillr
Wirecard Australia and New Zealand & Change Financial
86 400 & National Australia Bank Limited (NAB)

BEST PARTNERSHIP OF THE YEAR
Adatree and Verifier
Athena Home Loans and PwC Australia
BOQ and Frollo
CreditorWatch and Open Analytics Partnership
Rush Gold and EML Payments
SISS Data Services and Intuit QuickBooks
Superhero and Split
Valiant Finance and Australia Post

EMERGING FINTECH ORGANISATION OF THE YEAR
Adatree
Beforepay
Brickfloor
FrankieOne
OpenMarkets Group
Superhero
WeMoney
86 400 smartbank

FINTECH ORGANISATION OF THE YEAR
Athena Home Loans
Fresh Equities
Monoova
Prospa
Tic:Toc
Up
Verrency
Wisr

Read article: https://www.crowdfundinsider.com/2021/05/174892-fintech-australia-finalists-announced-for-finnies-awards/

Sniip Partners with Apple Pay

Sniip Partners with Apple Pay

Mobile bill payments platform, Sniip today brings its customers Apple Pay, a safer, more secure and private way to pay their bills using the power of iPhone to protect every transaction.

Customers simply select Apple Pay in the Sniip app to make a secure payment to over 60,000 billers in the BPAY network. Every Apple Pay payment is secure because it is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code. As a result of the partnership with Sniip, customers can use Apple Pay on an iPhone to make bill payments that are faster and more convenient as they no longer need to repeatedly type in personal and payment card information. 

“We’re excited to offer Apple Pay as a new payment option in the Sniip app, reinforcing our commitment to providing the ultimate convenience in bill payments for our 40,000-strong customer base. Sniip remains focused on delivering a fast, seamless, and consumer-centric approach to bill payments and adding such a widely-used mobile wallet such as Apple Pay is a big step forward,” said Damien Vasta, CEO of Sniip.

Security and privacy are at the core of Apple Pay. When customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted, and securely stored in the Secure Element, an industry-standard, certified chip designed to store the payment information safely on the device.

Apple Pay is easy to set up. On iPhone, simply open the Wallet app, tap +, and follow the steps to add your credit or debit cards. Once a customer adds a card to iPhone, they can start using Apple Pay on that device right away.

About Apple Pay

For more information on Apple Pay, visit: http://www.apple.com/au/apple-pay/

About Sniip

Sniip is a mobile bill payments platform allowing consumers to easily pay their bills via the Sniip app, using any debit or credit card. Users can scan a BPAY Biller Code or import a bill from their email using the Sniip app and pay their bills in less than 10 seconds. Learn more or download our app at sniip.com. Through its existing partnerships with BPAY and AMEX, Sniip has continued to scale its business and build its network of users by almost 40% from 30,000 in January 2021 to more than 42,000 at the end of February 2021. During the same period, Sniip saw a 400% increase in BPAY payment transaction value and has  now processed more than $100 million worth of bill payment transactions to date.

For further information please contact:

Citadel-MAGNUS

Emma Lewis, +61 (0)401 877 876; elewis@citadelmagnus.com   

Catherine Strong, +61 (0)406 759 268; cstrong@citadelmagnus.com

How individuals can earn full points with Sniip

How individuals can earn full points with Sniip

full points blogs

Plus, earn points even when your biller doesn’t accept credit cards at all!

Earning credit card reward points at the Australian Tax Office and other government agencies has long been a challenge for savvy frequent flyers, with the banks gradually reducing the points earned on those transactions.

Add to that the credit card surcharges that many institutions charge, and you’ll quickly see why it’s just often not worth pursuing the points when paying off those type of bills.

But one new solution to this problem is going through a third-party payment provider. These platforms usually settle your bills via BPAY, offering full reward points when you pay them for the service via credit card in exchange for a small fee.

Enter Sniip, a Brisbane-based fintech which now offers stellar rates when paying bills with an American Express card, which are often the highest-earning cards on the market.

What is Sniip?

Sniip is a payment platform that allows you to pay personal and household expenses with any type of credit card, all through one easy app. In 2021, the fintech partnered with Amex to offer a flat 1.5% fee for its services, in line with using Visa and Mastercard.

Earn full American Express Points when using Sniip for bills.

There are other similar payment processors on the market such as pay.com.au, B2BPay and RewardPay. However, those are tailored to small businesses, so Sniip is a good choice for individuals.

How does Sniip work?

Here are the steps to start using Sniip.

  1. Download the Sniip App from Google Play or the Apple App Store
  2. Register for an account or login
  3. Under ‘Wallet’, ensure you have a valid payment method set up
  4. Tap on the blue ‘+’ icon to add a new bill. You can scan it, add the details manually or sync your email account
  5. Enter the payment amount and the due date, then tap ‘Add Bill’
  6. Confirm all details are correct. If needed, you can set up a payment reminder through the app and add attachments.
  7. Tap ‘Pay’ to pay now or ‘Schedule’ to schedule the payment for later, either as a one-off sum or broken into instalments.
  8. Once the funds are cleared from your credit card, Sniip will make the BPay payment to your biller, which may take up to 3 working days.

Scan and pay any biller that accepts BPay with Sniip, while earning points.

Pay bills and other expenses via BPay, even when credit cards aren’t usually accepted

Sniip utilises a mobile app to scan your bills and make payments. As long as your biller accepts BPay payments, you can use Sniip to pay those invoices with a credit card and earn reward points.

This applies even if the biller doesn’t accept American Express cards, or in extreme examples, any type of credit card at all. That’s because you pay Sniip with your credit card to earn points, and Sniip then pays your biller via BPay to settle your amount owing.

This could be one way to earn even more reward points on transactions where you wouldn’t normally earn anything.

Pay ATO and government agencies to earn points, even when your credit card doesn’t normally permit it!

Typically, American Express reduces its points earn on ATO and other government-related transactions down to a low 0.5 or 1 point per A$1 — that’s a big drop when some cards usually earn up to 2.25 points per dollar!

Rather than pay the ATO’s 1.45% Amex fee and earn a reduced number of points, Sniip’s proposition is to pay them a 1.5% fee instead and earn the full potential of your American Express card.

Comparison of Sniip’s fees to other payment providers

Let’s say you’re an individual that owes a tax bill of A$5,000 to the ATO, and you want to maximise the points on your American Express Platinum Charge card or your Qantas Premier Platinum Mastercard.

Here are some of the scenarios that could occur, taking into account payment fees and the value of points earned according to our proprietary points calculator.

Analysis of the results: Sniip vs ATO

Qantas Premier Platinum

With the Qantas Premier Platinum, you’d earn 0 points directly at the ATO (since the card doesn’t award points on those transactions), and 5,000 Qantas Points through Sniip in exchange for a 1.5% fee.

That’s just okay, it’s certainly nothing to write home about since the points earn rate on that card is not exceptionally high.

American Express Platinum Card

With the American Express Platinum Card, you could earn a reduced 5,000 points if paying the ATO directly, for a 1.45% fee. But pay just a bit more for the 1.5% fee at Sniip, and you’ll unlock your card’s full earning potential.

That’s 2.25 Membership Rewards points per dollar spent, which more than doubles your haul to 11,250 points for a A$5,000 transaction.

Summing up

The true value of Sniip lies in its new 2021 partnership with American Express that sees it offer a reduced 1.5% fee for Amex transactions. While equal to the Visa/Mastercard fee, using the right American Express card could really open up your points-earning options.

Add to that most credit cards offer up to 55 days interest-free on regular payments, it makes sense to funnel some of your bigger bills through a service like Sniip to maximise rewards and boost your cashflow.

To get started, visit the Sniip website and be prepared to download the app to Android or iPhone.

Visit article: https://www.pointhacks.com.au/earning-points-with-sniip/

 

Sniip Partners with American Express

Brisbane-based fintech unlocks BPAY bill payments for American Express card members

Mobile bill payments platform, Sniip has today partnered with American Express to enable Australian American Express card members to easily pay bills.

The move unlocks BPAY’s 60,000-strong network of billers that can now be paid via American Express through Sniip. 

“Until now, customers have often not been given the option to pay their household bills using an American Express card, as many businesses have not made it available for their customers. Through our new partnership with American Express, card members now have the ease and convenience of using their American Express card through the Sniip app, at the same cost as other card providers,” said Damien Vasta, CEO of Sniip.

Robert Tedesco, Vice President of American Express Global Merchant Services said, “Sniip has a customer-centric approach to the bill payment experience. Our partnership with Sniip allows American Express card members to use their card to pay any biller that accepts payments through BPAY and still have the benefit of accruing all the same great rewards points.”

Sniip’s customer first approach allows time-poor consumers to pay and manage any bill on their mobile. The app revolutionises bill management, a task that is still performed manually 74% of the time.

Users can scan the BPAY Biller Code or import a bill from their email using the Sniip app and pay in less than 10 seconds, using any debit or credit card. 

The partnership is expected to help Sniip rapidly scale its business, building on its strong foundation of more than 30,000 customers already using its platform which has processed more than $80 million worth of bill payments. 

“As part of the agreement, Sniip will be promoted via the Amex Offers Program to all Australian American Express card members. This is a great way to offer the benefits of the Sniip app to a large network of people, all of whom pay bills, with an added incentive for first-time users” said Sniip Chief Executive Damien Vasta.

The partnership follows Sniip’s recent enablement as a BPAY Payer Institution Member (PIM) earlier this year, having been sponsored into the BPAY scheme by e-payments giant, Indue Ltd.

About Sniip

Sniip is a mobile bill payments platform allowing consumers to easily pay their bills via the Sniip app, using any debit or credit card. Users can scan a BPAY Biller Code or import a bill from their email using the Sniip app and pay their bills in less than 10 seconds. Learn more or download our app at sniip.com

About American Express

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success.  Learn more at americanexpress.com.au and connect with us on Facebook, Instagram, LinkedIn, Twitter and YouTube

For further information please contact: 

Citadel-MAGNUS

Emma Lewis, +61 (0)401 877 876; elewis@citadelmagnus.com 

Catherine Strong, +61 (0)406 759 268; cstrong@citadelmagnus.com

Queensland fintech startup joined BPAY is making paying bills easier

A Queensland fintech startup that’s joined BPAY is about to make paying bills easier

Sniip, a free mobile app that lets you scan bills and pay them quickly using its mobile wallet, has signed a partnership with BPAY.

Sniip’s move into BPAY is being sponsored by the Indue, the Australian-owned e-payments bank.

As a result of joining the payments platform, Sniip is increasing the number of billers accessible through its app to 45,000, and gaining access to 1.5 million more payments daily.

It’s also the first mobile payments solution outside the banking sector to join BPAY.

Sniip CEO Damien Vasta said that because BPAY aggregates every biller in Australia and Sniip aggregates every financial institution used to pay these bills, the partnership will also be “the first real change to the national bill payment landscape since the advent of BPAY itself”.

“When BPAY was introduced in 1997, its centralised online bill payment capabilities revolutionised bill payment for Australian consumers practically overnight,” he said.

“This new partnership and its bank and card-agnostic solution is designed to enhance this capability by providing Australians with a fast, simple, and seamless means to pay any bill through any bank and using any type of mobile.”

Sniip’s inclusion on BPAY puts an end to having to manually enter the biller code and reference number when paying a bill. with the app scanning it instead.

Indue CEO Derek Weatherley said several of Sniip’s enhanced features such as payment scheduling,  reminders, and receipt storage for tax and record-keeping, attracted the bank to the fintech startup.

“Sniip’s customer-centric approach to innovation is a key reason we are proud to sponsor them into the BPAY scheme, and we look forward to working together to transform Australia’s payments landscape for the good of all Australian bill-payers,” he said.

Sniip launched in Queensland in 2016 with several major billers in the state. Last year it went national when Australia Post began to offer its customers the app as a payment option.

Australia Post pilots Sniip bill-paying app to save customers time

Australia Post pilots Sniip bill-paying app to save customers time

Australia Post is pleased to be offering its customers a new choice for paying bills by piloting state-of-the-art mobile payments app, Sniip.

General Manager Payments and Financial Services at Australia Post, Deanne Keetelaar, said Sniip’s mobile payment technology means customers can pay their bills from their smartphones within seconds.

“Australia Post is very excited to be working with Sniip on this pilot project, which supports our commitment to continually improving the bill payment experience for customers,’’ Ms Keetelaar said.

“We will initially be offering our customers the ability to pay bills from selected billers using Sniip and seeing how they respond. Sniip has proven through its current billing partners that bill payers see the need for a simple user experience that is both secure and fast,” she said.

Founder and Chief Executive Officer of Sniip, Damien Vasta, said the company was excited to be working in partnership with Australia Post, introducing the new payment option via a simple scan of ‘Post Billpay’ barcodes, which currently appear on many bills.

“We see it as a great vote of confidence that Australia Post is working with us to offer Sniip as a bill payment option to its vast customer base,’’ Mr Vasta said.

Sniip offers substantial benefits to billers including cost savings compared to other payment methods, quicker payments and conversion to paperless bills via in-app push notification of bills to users.

“With Sniip now available as a payment tool, users can scan the “Post Billpay” barcodes and pay their bills within seconds, eliminating the need to enter a long account number, reference number or bank account details.

“The Sniip integration makes payments easier and safer on a mobile, allowing customers to manage their bills more efficiently in-app and reducing instances of misplaced bills, forgotten emails and late payment fees,’’ Mr Vasta said.

“We’ve already helped customers including Brisbane City Council and Queensland Urban Utilities to improve the bill payment experience for their customers and we look forward to extending this to Australia Post.”

Mr Vasta said that with an estimated 80% of Australians owning a smartphone, and people using them for almost everything they once did on a desktop, offering customers the ability to both receive and pay a bill on a mobile is simply responding to a market need.

“There is a consumer expectation that everything can be accessed on a mobile, and everything should be easy to use. Paying a bill is never pleasant, but Sniip has tried to offer customers the ability to make it happen quickly and easily,’’ Mr Vasta said.

Mr Vasta said that 88% of current Sniip users paid their bills before the due date, which is considerably higher than the national average for billers. The Australian-developed mobile payment app has been well received by the market, growing transaction volumes by 15% quarter-on-quarter since 2016.