Heymax, Visa campaign drives spike in digital payments

The campaign has also contributed to an estimated carbon savings of 24 to 42 tonnes.

Heymax, a travel rewards and personal finance platform, and Visa’s travel rewards campaign garnered over 26,000 transactions in just one week, growing two-fold in new users month-on-month.

The campaign has also contributed to an estimated carbon savings of 24 to 42 tonnes, with over 53,000 bus and MRT rides taken, reflecting a rise in consumer commitment to sustainable transport.

A total of 26,844 Visa-linked transactions were made for bus and MRT rides, highlighting increased engagement with digital payments. To date, over 600,000 miles (30% of the total) have been distributed in Singapore, showing strong demand for experiential rewards. 

The campaign, running until 28 November, allows users to earn miles and win business class tickets to Japan each worth 200,000 miles, further promoting sustainable travel choices.

Heymax data reveals that Singapore consumers' growing appetite for travel and experiential rewards is driving miles-based loyalty programmes. The top four merchants for Singapore users over the past six months include Agoda, Trip.com, Klook, and Singapore Airlines, based on data from 23,000 monthly active users.

The loyalty market in Singapore is projected to grow at a compound annual growth rate of 9.2% from 2024 to 2026, increasing from US$533.8m in 2023 to US$839.6m by 2028. This reflects the growing trend of using rewards-based programmes for travel and the broader global shift toward maximising points and rewards for travel expenses.

This campaign aligns with the Singaporean government’s push for sustainable travel, investing around US$43.5b by 2030 to expand and upgrade the public transport network.