If you come across a fancy restaurant or some exotic places, what would you normally do? We will, of course, almost instinctively take a photo of it and share it with our friends or family, won’t you? Reap notices the impact of social media on the way we communicate and keep connection with each other. That’s why we have launched a referral system. Together we can build a Reap community and enjoy the benefits it brings us.
Since January this year, the Hong Kong Monetary Authority has issued 8 new virtual banking licenses, with the latest batch released last week.
Reap allows you to pay any recipient using any credit card, sending funds securely from the card directly to the recipient’s bank account, without the recipient needing to set up any kind of merchant account, processor, payment gateway or point-of-sale device. We have received a lot of questions in the past months about how this works, and so today I wanted to explain more about the model behind the scenes.
If you have an immediate cash flow problem, then the quickest fix might be a short-term financing solution. It’s the fastest way to get money in your bank account if you don’t plan on receiving any large revenue payments within the next day. Find out in this article, the 3 best options for your business in Hong Kong for short-term cash flow solutions.
As your small business grows, your management needs will, too. You’ll have more employees, more invoices to pay, more accounts receivable. And you may have too many authorized users on your small-business credit card. At that point, it may be time to change from a small-business card to a corporate credit card.
According to PRNewswire.com, virtual card payments make up 50% of all B2B payments. Suppliers are accepting virtual card payments now more than ever before, but many still rely on outdated payment methods because they believe the fees don’t outweigh the benefits. Despite the most common objections for refusing to accept card payments, virtual cards offer clear benefits suppliers simply can’t ignore.
Small and medium sized business owners often will face this question when they have achieved a certain level of scale, and are considering options to finance their continued growth.
The general definition of working capital is the amount of money used for financing the day-to-day operations of a business. However, what does this definition actually mean in practice? Is it the amount of money in the bank account of your business? Is it the amount sitting in the cash register?
As a nation with a relatively smaller domestic population, Singapore businesses have always thrived on being able to enter global markets. This ongoing trend of internationalisation is largely driven by Singapore’s advancements in innovation
Startups live and die by their cash. According to a recent CB Insights study of 101 startup failures, running out of cash is the second biggest reason why startups fail, ahead of having the wrong team, competition, and pricing issues.
Kevin Kang is a Co-Founder of Reap, a platform that allows SMEs to pay all operating expenses (e.g., rent, salary, supplier payments) using credit cards. A former investor and finance professional turned startup operator, Kevin holds an MBA from Institut Européen d'Administration des Affaires and a BSc from the University of Waterloo.