Originally Posted by vsepr

http://www.uob.com.sg/assets/pdfs/pe...atinumVisa.pdf

This is how the "The 10X UNI$ for online and Visa payWave transactions is capped at UNI$24,000 for both categories per calendar year. After which, 1X UNI$ will be awarded for every $5 spent." works:

The actual amount you can payWave to earn 10x is $13,330. UNI$24,000 is the extra 9x. It does NOT include the basic 1UNI$ for every S$5 spent.
Then when you found out 1 of the S$5 transactions earn 7UNI$ (1 + bonus 6), you hit the 24,000UNI$ bonus.

$13330/5=2666 UNI$, UNI$2666x9=23994, hence the very last S$5 payWave transaction you will earn 7 UNI$. That is when you hit finish the 24,000UNI$ bonus. It is not the first $12,000 spent, but S$13,330.