[Tech] ReapPay Ecosystem.

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Today we will learn about the ReapPay Ecosystem.

1.ReapPay Ecosystem

- ReapPay Pay is used as a transaction to purchase or use goods and services within the ReapChain service platform. ReapChain’s REAP does not have any rights other than its function as a means of being listed and traded on an external exchange and used for proof of ownership of ReapChain.

• ReapPay Pay is a stable payment method, ‘1 KRW = 1 Pay’, and the held Pay can be swapped at any time according to ReapChain’s REAP and market value.

Ecosystem diagram of ReapPay

• ReapChain’s fee system: Reap Pay’s transaction and payment details are stored in the blockchain for security and safety. When ReapPay’s Pay is swapped into REAP, 0.02 REAP is generated per transaction as a transfer fee. In addition, the merchant pays 0.5% of the payment amount in Pay as a ReapPay payment fee.

2. Use of ‘Pay’ of ReapPay

ReapPay’s Pay is an O2O service-only payment method used for all transactions (payment, settlement, compensation, etc.) within the service platform. (1 KRW has the same value as 1 Pay, but 1 Pay is not the same as 1 Reap.)

- Payment method for consumers to purchase or use goods and services online/offline. — Compensation method according to consumer contribution to activate platform service. Ex> Merchant evaluation, reviews, previews, etc. — Payment method for merchants using advertising services.

- Payment method according to the event conducted by the affiliated store.

3. Business and revenue model

As a ReapPay platform operator, ReapPay Co., Ltd. may receive a basic fee for using the platform and a payment fee for electronic payment as a PG company.

▶ Types of Fees Receivable

- Platform brokerage fees (basic fees for using the platform, such as sales fees and entry fees)

• Payment fee (payment fee according to the use of PG) — Advertisement fee (advertising fee according to advertisements sent by affiliated stores)

Fees revenue model through ReapPay

Reappay revenue model through affiliates (brokerage commission revenue)

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