Today, there are many business segments where cash, cheques and bank transfers remain the predominant method for payment. Reap is a credit based payments platform that allow SMEs (and to a certain extent, certain consumers) to pay (for a fee) any expense/bill with a credit card.
Reap has two main goals:
1. Allow customers to improve working capital by leveraging a credit card’s up to 60 day interest free payment period.
2. Allow customers to leverage all of the core benefits (ie. security, convenience, rebate/rewards/miles) of a credit card to pay for expenses in segments that do not typically accept cards today.
For SMEs, they’d gain instant access to inexpensive capital and improve operational cash flow/working capital. Reap also allows you to expand the ways to earn rewards, cashback and miles from your credit cards by simply paying for their monthly bills.
Our addressable customer base focuses on SMEs looking to improve operating cash flow, looking to look earn miles/points/cashback
After building out a playbook in the more developed countries of Asia (HK, SG, JP, KR, TW), we want to expand into emerging markets in SEA (TH, ID, VN, etc) to build a credit-based payment system for businesses. More specifically, cash flow is core to the growth and ultimate survival of a small business. While there are startups looking to solve the problem of SME lending and B2B payment in isolation, we believe that the combination of two services together will greatly improve the user experience and adoption rate. more