Today, we're extremely excited to launch Reap cross-border payments to 40 different countries across the world.

What is Reap's New Cross-Border Feature?

Hong Kong continues to be a hub for global minded SMEs. As at September 2018, there were around 340 000 SMEs in Hong Kong. They accounted for over 98% of the total business units and provided job opportunities to over 1.3 million persons, about 46% of total employment.  Due to Hong Kong’s proximity to China and presence as a logistic and financial hub, starting a global minded business in Hong Kong has never been easier. In order for SMEs to access the global supply chain surrounding Hong Kong, seamless payment processing and trade financing will be an important point of consideration going forward.

We continue to build towards our mission of providing instant credit to SMEs at a moment's notice. Through Reap, Hong Kong SMEs can now facilitate payments to international suppliers, employees, contractors and any other business expense through their existing credit card. The mechanism to initiate cross-border payment has been seamlessly integrated into our existing platform. You simply add the credit card of your choice (we support American Express, Visa and MasterCard), tell us where and who you want to pay to, and the recipient will receive the funds in 3 business days. 46 countries across the world, guaranteed.

The internet has allowed businesses to transcend geographical boundaries for messaging (eg. WhatsApp), search (eg. Google), and social media (eg. Facebook). But when it comes to cross-border payments, these boundaries seem to materialize very quickly. From antiquated payment systems to exorbitant foreign exchange markups, innovation within cross-border payments has long been underserved. We’re excited to see what SMEs in Hong Kong can do with easier access to a more seamless cross-border payment process. If you have any questions or feedback, please let us know.

To know more about cross border option for Hong Kong SMEs, check our article here.

今日,我們非常高興宣佈Reap 的跨境支付服務正式推出,連接全球40個不同國家。

什麼是Reap 的全新跨境支付功能?

香港向來是孕育具環球視野中小企的搖籃。截至2018年9月,香港約有34萬家中小企,相等於整個工商業的98%以上,並為超過130萬人提供就業機會,佔全港總就業人口約46%。 由於香港靠近中國,同時是一個物流和金融中心,在香港要建立環球業務可說是相當簡單。為了讓中小企接通香港周邊的全球供應鏈,直接無縫的支付程序和貿易融資方案將是未來要考慮的重要課題。




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