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How to make a Repayment with Cryptocurrencies?
How to make a Repayment with Cryptocurrencies?

Explore our crypto-repayment tool to unlock the potential of your stable coins

Angel avatar
Written by Angel
Updated over a week ago

Reap provides more flexibility to let companies settle Reap Card bills with cryptocurrencies, allowing companies to hold fewer fiat assets to keep business thriving.

Step-by-step tutorial

  1. Visit Reap Dashboard → Reap Card → Repayments and click the + Repayment button on the top-right corner

  2. You will see a pop-up window with Bank transfer and Cryptocurrencies options available. Click the latter one to proceed.

  3. On the summary window, you can either choose to repay the outstanding balance or repay a custom amount. Please choose the option accordingly, and type in the amount you are planning to repay in Hong Kong Dollars (HKD) if you are making a partial repayment.

  4. Please note that the system will display the repayment amount which has the crypto repayment fee included. Please select the preferred currency and/or method of repayment, and the network to be used.

  5. We will generate a real-time quote of the repayment amount from fiat currency to the requested cryptocurrency on the confirmation page. Also, we will generate a temporary wallet address that is valid for 25 minutes for you to complete the repayment transfer. Please ensure to

    1. Complete the transfer within 25 minutes

    2. Ensure sending to the correct wallet address (you can click to copy the address)

    3. Transfer only once to each temporary wallet address.

  6. After making the transfer, it will take a few minutes to allow us to detect the transfer (depending on the network, the waiting time ranges from 1 to 30 minutes). Once we have detected the repayment, the reconciliation will be almost immediate. Please visit the Transaction page, click on the latest entry on the Repayment tab to view the reconciliation status on the sidebar.

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