NEW YORK — Australian payments company Pay.com is expanding into the United States with the launch of PayRewards, a small-business payments platform that allows companies to earn rewards on expenses paid by bank transfer as well as credit card.
The U.S. launch comes with $28 million in new Series E funding, bringing total capital raised to $70 million, according to a statement from Pay.com.au. The privately funded round included existing and new investors, although the company did not identify them.
Pay.com.au said it processed more than $7 billion in business expenses during the past 12 months and serves more than 30,000 businesses in Australia. Payment volume has doubled from a year earlier, the company said.
The latest funding follows a November 2025 round that raised A$25 million, or approximately $18 million.
Targeting Unrewarded Business Spending
PayRewards is targeting small-business expenses that often do not generate traditional credit card rewards, including rent, utilities and tax payments.
The platform allows businesses to earn PayRewards points on payments made through ACH bank transfers or credit cards. Points can be redeemed through airline and hotel loyalty programs, for flight and hotel upgrades, gift cards, employee incentives and other options, or applied as a credit against future invoices on the platform.
The company said the service does not charge a monthly platform fee. Businesses instead pay when they choose to earn points.
Businesses paying by credit card can also continue earning their card’s existing rewards while simultaneously earning PayRewards points, a feature the company calls the “Double-Dip.”
“PayRewards is an end-to-end platform making it simple to pay anyone, by card or bank transfer, and earn full credit card and PayRewards Points in return,” PayRewards U.S. CEO Blake Hutchison said in a statement.
Australian Business Expands to U.S.
PayRewards is the U.S. arm of Pay.com.au, which was founded in Australia in 2019.
Pay.com.au allows businesses to pay suppliers, taxes, payroll and other expenses while earning rewards points. The company said its Australian rewards network includes 16 airline, hotel and card partners.
The company reported processing more than A$10 billion in business expenses during the past 12 months.
PayRewards said its U.S. service is available to small businesses in most states.
