FREQUENTLY ASKED QUESTIONS
FOR USERS
Q: Are there any fees for using Repegs?
A: The Repegs platform is free for everyone to use and be part of. Fees for withdrawals are listed below, but generally, there are no fees unless an instant payout is used.
Q: Where can I use my Repegs?
A: When you sign up for the app, your address will associate you with your local area. Use the “Businesses” button on the app to see which merchants are offering perks and discounts in that area. You can sort them by types of experiences, search by name, or view the merchants on a map.
Q: As a student, where can I use my Repegs?
A: Students can use the app anywhere Repegs are accepted. So even if you’re home for the summer or visiting another university, you’re basically, super locals. Check the map in the app for perks and promotions near you.
Q: Are Repegs safe and secure to use ?
A: Absolutely. Our digital wallet is supported by Stripe, the most trusted and secure digital banking and payment processing system globally. The utilization of blockchain technology guarantees a verified ledger, validated thousands of times. For account security, we require a password or biometric authentication (FaceID or equivalent).
Q: Is Repegs cryptocurrency or a digital wallet ?
A: Repegs is a digital wallet. Here’s the difference: cryptocurrency exists purely in digital form without any physical representation. A digital wallet, however, functions as a real-world banking tool, such as Venmo, enabling users to access and transfer actual funds from their bank accounts and debit or credit cards.
Q: How does Repegs make money ?
A: Repegs makes money by charging a 1.50% transaction fee to the businesses on our platform. We also make a small processing fee of 2.2% when using Quick Pay.
There is no fee for regular withdrawals, and they take 1-2 business days via Stripe. The first time you withdraw to your bank account from Repegs, it may take up to 7 days.
Instant transfer via Stripe is available only if your bank partners with Stripe. Please verify the list here. Stripe takes a 1.5% transaction fee for instant withdrawal.
Q: How do I pay using Repegs?
A: Paying with Repegs is quick and easy. Just tell the cashier you would like to pay in Repegs then follow the steps below:
Launch the Repegs app on your device.
Tap 'Pay Now' on the home screen.
Scan the merchant's QR code at checkout.
Review and confirm the payment details.
Select or enter a custom tip amount.
Find your receipt in the Wallet's Activity section.
Q: How do I join?
A: Download our app today to join your local Repegs community. If you're unable to join because Repegs is not currently in your local community, gather your friends and speak to your favorite businesses to jump on. You can request that we launch in your community, just email us info@repegs.com.
Q: What is the “community fee”?
A: The community fee is a percentage of your savings donated to support a local charity we have selected. Five percent of the money you save on Repegs is donated to a charity called the community fee in your digital wallet. For example, if you buy a $5 coffee discounted by 20%, you save $1, so $.05 gets automatically donated to a local charity. Your total donation to the community is always visible on your home screen.
FOR MERCHANTS
Q: How much does Repegs cost for merchants?
A: Repegs is free for merchants. The only costs are a $2.50 withdrawal fee when you withdraw your money from the Repegs digital wallet, and a transaction fee of 1.50% for each transaction, (lower than most credit card transaction fees).
Q: Can I sign up for Repegs as a business?
A: Absolutely. To register as a business user, download the Repegs app from your device's app store and follow the provided signup process. Once completed, you can choose to finalize the onboarding steps via your browser or wait 3-5 business days for Repegs admin to validate your account. Please note, your account will not be live on the app until either the onboarding is complete or admin has approved it, whichever comes first.
Q: How do Repegs work for tax purposes?
A: Repegs are classified as USD and must be treated as such for tax and income reporting purposes. As a business owner, it is your fiduciary responsibility to accurately report and file all income derived from Repegs, in the same manner as income received in cash.
Q: How do I withdraw funds and how often can I withdraw?
A: To withdraw funds from your account, select Transfer Funds from your home screen > Withdraw. Businesses can set up automatic withdrawals on a daily or weekly basis through our Support team. Scheduled withdrawals incur a $2.50 flat fee per withdrawal. Businesses can also withdraw manually at any time for convenience with no additional fee. To learn more about our fees, please review our Terms and Conditions.
FOR CHARITIES
Q: How do we get our charity offered on Repegs?
A: Repegs supports charities that are doing work that directly affects our local communities. If that sounds like you, contact us to learn more: info@repegs.com.
