With the Lopay Rewards Card, the money you take through Lopay is automatically available to spend. You’ll also get rewarded with 25% of each purchase back in fee-free payment processing every time you spend on your card.
When you upgrade to a Lopay Rewards Card account, a virtual card will be added to your Lopay app. This means you can start using your card straight away, without waiting for a physical card to be delivered. You can order a physical card from the app if you would like one.
A virtual card works like a physical card but it's stored on your phone rather than in your pocket. You can use it to make online purchases, or add it to your Google Wallet to make contactless, in-person payments.
Please note: virtual cards can only be added to a Google Wallet. Apple Pay isn't quite ready yet.
The Lopay Rewards Card works like other cards you may use, but there are a couple of things that you need to know.
If you order a physical card you won't be able to use it in a cash machine, as we don't want to pass the card fees for withdrawing cash onto you. We recommend making a withdrawal to your bank if you need cash.
Your payouts will no longer be automatically paid to your bank account. Funds will be made available for you to use your on your Lopay Rewards Card. However, you'll be able to withdraw to your bank account wherever you see this button in the Lopay app:
During the initial beta development stage there will be a few restrictions on how you can use your Lopay Rewards Card:
Initially, you won’t be able to use your Lopay Rewards Card to withdraw money from an ATM.
The maximum purchase you can make using your Lopay Rewards Card during the beta stage will be capped at £500.
There is however no limit on how many purchases you can make with your card - the spending limit on your Lopay Rewards Card will be the balance shown in your Lopay account.
How the card works
Each time you take a payment with Lopay, your funds will instantly be available to spend on your Lopay Rewards Card. You’ll be able to use your card to make purchases online, or in person via contactless payments, as well as Chip & Pin payments if you order a physical card. Every time you use your Lopay Rewards Card to make a payment you’ll be rewarded with fee-free payment processing in your Lopay account.
Understanding Fee-free payment processing
Fee-free processing refers to payments taken with Lopay that don't incur our usual transaction fees. You can earn fee-free processing every time you spend on your Lopay Rewards Card.
So if you spend £100 on your Lopay Rewards Card, you won’t pay fees on your next £25 of Lopay transactions with customers.
The fee-free allowance is applied to your account straight away, so the next time you take a payment, any available fee-free balance will be applied to the transaction.
You don't need to use your free processing all at once. So if you have £25 of fee-free processing and a customer only transacts £5, you'll still have £20 fee-free processing to claim on the next transaction.
Payment fees applied
Fee-free balance before
Fee-free balance after
Earning and using your rewards
Every time you earn fee-free processing this will be applied to your Lopay balance. There are no limits to how much you can earn, and your rewards won't expire.
You can currently earn fee-free processing by using your Lopay Rewards Card or sending referrals, but we're working on other ways you can earn rewards!
Setting up your card
Tap ‘My Cards’ on the home screen of your Lopay app to see your virtual card or order your physical card.
To activate your physical card when it arrives, just tap ‘More’ then ‘Your Lopay Card’ in the app.
Your payout schedule
Your existing payout schedule will be replaced by the Lopay Rewards Card once you activate your card.
Instead of getting paid weekly, the next day or instantly to your chosen bank account, your funds will now be instantly available to spend on your Lopay Rewards Card.
Should you wish to use your Lopay funds elsewhere, you can request an instant payout to your chosen bank account.
We charge a transaction fee of 0.99%* to make funds instantly available on your Lopay Rewards Card.
This replaces the fee for your chosen weekly, next day or instant payout schedule (0.79%, 0.99% or 1.79%.)
Any non-GBP transactions taken on your Lopay Rewards will incur an additional 1% fee.
Retrieving your PIN
If you forget your pin, head to Your Cards in your Lopay app and tap PIN reminder:
You will be sent a text message with a verification code in order to reveal your PIN.
To change your PIN you will also need to tap PIN reminder and enter the verification code sent via text message. You will then be given the option to change your PIN.
Freezing your card
If you need to freeze or unfreeze your card, go to Your Cards to add or remove a temporary block.
Ordering a replacement card
If you need a new physical card because it is lost, stolen or damaged just pop into the Lopay app, go to Your cards and request a new one:
You will be asked to select why you need a card - this is to ensure that if the card has been lost we know to block your previous card.
Once you receive your new card you can follow the same steps to activate it as when you received your previous card.
Adding receipts to your transactions is easy with Lopay. Tap Your Cards in the app and you'll find an option to show your transaction history. After selecting the transaction, you'll be able to add a category, a description and as many images as you need.