PayRewards improves points conversions to Virgin Australia and Qantas

Businesses with PayRewards Points to spend will now receive more frequent flyer points when converting rewards to both Virgin Australia and Qantas. That’s through an improvement to the transfer rate from the PayRewards program to Virgin Australia Business Flyer, along with quiet tweaks to the Qantas Business Rewards conversion rate. PayRewards is the loyalty program of Pay.com.au (affiliated with Point Hacks).

As of July 2025, conversions from PayRewards to these partner programs now take place at a 2:1 rate. Previously, these transfers used a less generous 2.5:1 rate. The change means that from the same starting balance of PayRewards Points, more airline frequent flyer points can be received.

It’s a win for those who already have PayRewards Points, because these points are now worth more, when converted to Velocity and Qantas. It’s also a win for customers of Pay.com.au that continue to accrue PayRewards Points on transactions. That’s because there’s no change to any Pay.com.au fees, and no amendments to the number of PayRewards Points earned per dollar spent.

Here’s a closer look at what the changes mean for business owners.

American Express® Platinum Business Card

Find Out More & Apply

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Sign-up Bonus:

300,000 Bonus Membership Rewards Points*

Rewards Earn Rate:

Earn 2.25 Membership Rewards points per $1 on all eligible business purchases, except for spend with government bodies, for which you will earn 1 point per $1 spent

Annual Fee:

$1,750 p.a

Offer expires

13 January 2026

Earn 300,000 Bonus Membership Rewards Points* when you apply by 13 January 2026, are approved and spend $12,000 on eligible purchases on your American Express Platinum Business Card in the first 3 months of approval. The Card is aimed at small and medium-size businesses who want to maximise their points earned, as well as business and travel benefits. T&Cs apply. Available for new American Express Card Members only.

Transferring points from PayRewards to Virgin Australia and Qantas

To illustrate, let’s presume that a business has built up a balance of 300,000 PayRewards Points. Prior to this change, those rewards would have translated into 120,000 Velocity Points or 120,000 Qantas Points, if converted to Virgin Australia Business Flyer or Qantas Business Rewards, respectively. Now, that same starting balance would become 150,000 Velocity or Qantas Points.

While there are occasionally points transfer bonuses from PayRewards, those improvements deliver short-time benefits. With this change, the improvement is year-round: not a quick promotion. In essence, it’s a perpetual 25% increase to the number of frequent flyer points received, from the same initial balance.

Virgin Australia Business Flyer and Qantas Business Rewards are also just two of the many points conversion options from PayRewards. Transfers to Singapore Airlines KrisFlyer remain at a 2.5:1 rate. So too do points conversions with Air Canada Aeroplan and Vietnam Airlines Lotusmiles.

A 3:1 rate applies when converting to The British Airways Club, Cathay, Qatar Airways Privilege Club and Thai Royal Orchid Plus. PayRewards members can also convert points to three major hotel programs. Marriott Bonvoy uses a 1.75:1 rate, while IHG One Rewards adopts a 2:1 rate. Conversions to Accor Live Limitless use a 4:1 rate, reflecting the Euro-based value of these points towards accommodation bookings.

As part of this change with Virgin Australia and Qantas, there are no other revisions to PayRewards’ conversion rates.

Australia’s changing loyalty landscape

It’s fair to acknowledge that these PayRewards changes follow planned points devaluations by both Virgin Australia and Qantas. Qantas is hiking most of its flight booking and upgrade rates from 5 August 2025. Velocity Frequent Flyer made similar changes back in January 2025, with the new rates already in effect.

But the timing of this PayRewards change provides a lucrative window, for those intending to spend Qantas Points quickly. Let’s use the popular Sydney-Los Angeles route as an example.

Right now, it costs 108,400 Qantas Points to book a one-way Business Class seat (plus taxes, fees and charges). Under PayRewards’ previous 2.5:1 conversion rate, this was akin to 271,000 PayRewards Points. Fast-forward to August 5, and the same flight will cost 130,100 Qantas Points. Under the new 2:1 conversion rate from PayRewards, members would need only 260,200 PayRewards Points to book that flight. That’s already a net improvement of 10,800 PayRewards Points, even after Qantas’ devaluations take effect. But for the next month, there’s an even better opportunity.

PayRewards’ transfer rate has become better, before Qantas’ own redemption rates have become higher. So, PayRewards members could transfer now – at the new, improved rate – and book now, before Qantas’ rates go up. Accordingly, the same Sydney-LA Business Class flight could cost just 216,800 PayRewards Points (plus taxes, fees and charges). That’s by converting points to Qantas at a 2:1 rate, and booking the flight at the current cost of 108,400 Qantas Points. Handily, this lower rate can apply to travel after August 5, as long as flights are booked before that date.

Reward seats are always subject to availability, and it pays to check that before transferring anything. But this is one route where there’s a net win for travellers going forwards, as well as a more significant win for those who are clued-in and act quickly.

The improved transfer rate to Virgin Australia Business Flyer also comes as Velocity adds three new partner airlines for points-based bookings. Members can now spend Velocity Points on Hong Kong Airlines, Hainan Airlines and Beijing Capital Airlines. It’s great timing, as Hong Kong Airlines has just launched direct Sydney-Hong Kong flights: now bookable using Velocity Points. You just have to call, as these don’t currently appear online.

Also read: The Ultimate Guide to Pay.com.au