Reap Pay terms and conditions
Anson Leung avatar
Written by Anson Leung
Updated over a week ago

Reap Pay is a Service which enables you to purchase goods and services using your existing Credit Card by making a payment to any bank account legally held by the Recipient you are purchasing the goods or services from.

Creating Reap Pay Payments

Reap Pay Payments (“RP Payments”) to Recipients can be submitted for immediate or future processing via the Reap Pay Service. We will require you to provide certain information to us in order to understand the transaction and process the request. The required information from you will be indicated to you on our Website.

For each RP Payment you submit, you represent and warrant to Reap that the information you provided is accurate, sufficient, and valid, and you instruct and authorize Reap to process and complete the payment immediately. Consequently, you acknowledge and agree that you are solely responsible for:

  • amending and/or cancelling any RP payments that you have setup but for which any details have since changed;

  • selecting another Payment Method if the expiry date of the initial Payment Method is after the day on which we will be processing the charge; and

  • ensuring that, as at both the date of submission and the expected payment date, the Recipient information, Recipient bank account details and payment amount is correct.

If Reap has processed or completed your RP Payment according to your instructions, you agree that the payment details must be considered correctly provided even if you made a mistake.

If you provided incorrect information, we may, in good faith, use reasonable efforts to recover the funds for you and may charge you a reasonable additional fee, which you agree to pay. However, in the event that we are unable to retrieve the incorrectly sent funds, you agree that Reap will not be liable to reimburse any amount or to reverse any transaction that has been completed as a result of your error or negligence.

Review and Information Requests

At any time after the submission of an RP Payment, your RP Payment may be subject to review and additional data requests, which serves to better understand the nature of and reason for your RP Payment. During this review process and for any reason, Reap may place a temporary hold on the delivery of your RP Payment, and may request more information from you including but not limited to verification of your identity, an associated bill or invoice, or other evidence of your relationship with the Recipient.

Requests for review and additional data may be initiated via email or phone call using the contact details you provided for your account. You acknowledge that our ability to efficiently and effectively conduct a review for Payments is reliant upon your cooperation and that we are entitled to hold the funds and not make any Payments until you pass our review. You further agree not to pursue any complaint, suit, remedy, action or claim against Reap in the event that there are any negative impacts to the delivery of your payment arising from delayed, incomplete, or insufficient responses to our inquiries.

Refund of Reap Pay Payment

In certain situations following a RP Payment submission, you may request a refund by contacting us at [email protected]. We will review the request and process the requested refund if, in our sole discretion, we deem the refund possible, reasonable and legal.

At its sole discretion, Reap also reserves the right to cancel and refund any RP Payment without your prior consent and without providing reason. In such cases and as permitted by applicable law, your funds will be returned to you via the original Payment Method, or if necessary via other means. You acknowledge and agree that Reap is not liable for any liabilities you may incur, including but not limited to late fees, penalties, or interest due to RP Payments that are held, denied, or reversed.

Immediate Processing of Payment

RP Payments submitted for immediate processing will have the associated Payment Method charged immediately for the RP Payment amount plus any Fee charged by Reap for processing this RP Payment. RP Payments submitted for immediate processing will require successful Payment Method authorization at the time of submission. If this charge fails to authorize, Reap will be unable to continue to process your RP Payment, and will notify you via the dashboard.

Future and Recurring Processing of Payment

RP Payments may be submitted for future or recurring processing (“Scheduled Payment”), but must be assigned to a Payment Method at time of submission which remains valid through the date which the RP Payment is scheduled to be completed and the Payment Method charged. Prior to each Scheduled Payment’s completion date, a Scheduled Payment may be cancelled or edited via the Website. Editing a Scheduled Payment may result in alterations not specifically requested including but not limited to recalculation of associated Fees, qualification for current promotion, or disqualification of expired promotions. By editing a Scheduled Payment’s details after submission, you agree to pay all recalculated Fees and agree that Reap can, in its sole discretion, determine whether you qualify for any current or expired promotions.

Delivery and Completion of Reap Pay Payment

Once your Payment Method is charged, and all other reviews have been completed, it will take up to 3 business days for the funds to be dispatched to your Recipient’s bank. However, the funds transferred to your Recipient may fail to be recognized by your Recipient because of a number of reasons including but not limited to invalid beneficiary account number, incorrect bank name, improper documentation, additional processing time from your Recipient’s bank etc. You agree not to hold Reap responsible for any delay due to reasons outside of Reap’s control. Your liability to the intended Recipient may be subject to penalties, late fees and interest charges assessed by such recipient, all of which remain your responsibility.

Satisfactory Goods or Services for Reap Pay Payment

By submitting your RP Payment for processing by the Service, you agree that the goods or services provided by your Recipient in exchange for the RP Payment have already been rendered to your satisfaction. You hereby forfeit any future claims regarding insufficient or unexpected quality or untimely delivery of the goods and services provided by your Recipient, including those Services rendered by Reap in exchange for your payment of Fees. You accept and agree that no refunds or chargebacks on our Fees are permitted.

Cross-border Reap Pay Payment

All payments to non-Hong Kong recipients are conducted via our wholly-owned subsidiary Reap (Remit) Limited, a company incorporated in Hong Kong under Company Registry number 2749310 and holder of Money Service Operator License number 19-08-02816.

Where the Recipient bank account is not located in the jurisdiction where our Services are available and the funds for RP Payment are delivered in a different country from which they originate (“Cross-border RP Payments”), Reap uses the services of a licensed remittance partner in order to complete the remittance and exchange of currencies. Cross-border RP Payments may be subject to higher fees, further reviews, and longer delivery timelines. At the time of the RP Payment submission, we will inform you of the estimated completion time of your payment and all applicable fees including the indicative exchange rate. We will use reasonable efforts to ensure that the funds arrive in the Recipient’s account within the timeline notified to you at the time the Cross-border RP Payment is submitted. You acknowledge that we do not have any control over the time it may take for the recipient’s bank or payment provider to credit and make available funds to the recipient and agree that Reap is not responsible for any delays or failed payments in connection with Cross-border RP Payments.

Exchange rate may be subject to fluctuations between when the Cross-border RP Payment is submitted and when the Payment Method is charged. You acknowledge and accept that credits to and debits from the Payment Method in association with Cross-border RP Payments may be executed in unexpected and varying amounts as converted to and from a Recipient’s local currency. Additionally, Payment refunds associated with Cross-border RP Payments will be subject to exchange rates then in place, which may differ from the exchange rate observed or indicated to you when you submit a Cross-border RP Payment. You agree that Reap is not liable for any consequences arising from exchange rate fluctuations.

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