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How to use Reap Pay with cryptocurrencies
How to use Reap Pay with cryptocurrencies

Step-by-step guide on using crypto to initiate your Reap Pay transactions

Karen Lai avatar
Written by Karen Lai
Updated over a week ago
  • The cut-off time for Reap Pay transactions initiated with cryptocurrencies is HKT 6pm. All transactions submitted after 6pm will be reviewed on the following business day, and payout will be arranged on the next business day after Reap team's review

  • A handling fee of 0.8% will be charged for any refund

  • Batch payment and Scheduled payment features are currently not supported for Reap Pay transactions initiated with cryptocurrencies

  • Please note that we do not support payments in Vietnamese dong (VND), and payments in Thai Baht (THB) and Korean Won (KRW) are only supported for USD Reap Card account

  1. Once you have logged into your Reap account, click on Reap Pay on the menu, then go to Payments page

2. Click + Add payment button on the top right corner of the page

3. Click on + Add a new recipient button to start filling out recipient details, including recipient name, bank account details and recipient address details

4. Select the payment method you wish to apply to this transaction. In this scenario, we will select Cryptocurrencies. Reap accept Bitcoin, Ethereum, USDC, Tether, or Binance Pay

5. Fill out the Payment amount, Reference and provide the required Supporting document for this transaction

6. You can view the breakdown of all related fees and exchange rates (if applicable) for your transaction on the Review page. We suggest users check the Transaction details including recipient bank details and payment amount on this page before making the payment. Please click on the checkbox to agree with our Terms of Service to proceed to the next step.

7. User will have 25 minutes to settle the transaction as we locked in the exchange rate for a limited amount of time. You can settle the payment by copying our wallet address or scanning the QR code shown on the payment page. Please do not try to save the wallet address for future payments as Reap will provide a different wallet address for each transaction.

8. After settling the payment with your choice of cryptocurrency, the system will take 5-15 minutes to process the transaction and receive the fund from your wallet. Users can click open any Reap Pay transaction and go to Transaction timeline to find out more about the transaction process

9. Reap will send the fund to the recipient's bank account in 1 business day (T+1). Users will receive transaction updates via email and WhatsApp notifications, and the Reap dashboard will reflect real-time transaction status. The below screenshot shows an example of a completed Reap Pay transaction:

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