Rebag has announced it’s launch into the payment’s world with it’s own Rebag Wallet, a tool that centralizes seller payouts, known as Seller Funds, as well as all additional Rebag proceeds. I’m addition to it’s launch Rebag is also introducing along side, Premium Payouts, an unprecedented way to reward sellers who keep their Seller Funds in their Wallets for one or more months.
“We heard the requests from our seller community to find innovative ways to maximize their payouts, especially in the current macroeconomic environment,” says CEO & Founder Charles Gorra. “We are so excited to pioneer the launch of these ground-breaking tools that not only incentivize our sellers but also promote a more circular economy,”
“In addition to Rebag Wallet, both Premium Payouts and Spending Bonus will enhance brand loyalty by significantly rewarding clients who remain within the Rebag ecosystem long term and reinvest their payouts. We continue to be at the forefront of the intersection of tech and resale, and we hope these new features emphasize to our customers just how much we value them,” Charles Gorra continued.
How does it work?
Once a seller transaction is fully processed by Rebag, Seller Funds, along with any available Rebag Credit or Rebag Rewards points, can be found in a new section of a user’s online account called Wallet. By looking in their Wallet, clients can determine their total spending power at Rebag, i.e. the dollar amount that can be put towards a purchase.
What is Premium Payouts?
Premium Payouts is a new, complementary feature that rewards sellers who keep their Seller Funds in their Wallet; Seller Funds will automatically increase by 1% per month for up to 12 months. For instance, a client who sells an item to Rebag for $5,000 today would see that amount increase to $5,635 in 12 months, or they could choose to withdraw at any interval in between without fees. With Premium Payouts sellers can have visibility on their proceeds in advance and match their payouts with their time horizon.
What are some addition incentives?
As an additional incentive, any time a client puts their Seller Funds towards a Rebag purchase they enjoy a 10% Spending Bonus. This will benefit sellers who want to maximize their spending power at Rebag. A client who sells an item, leaves their Seller Funds in their Wallet for the full 12 months, then puts the Funds towards a Rebag purchase will see their spending power increase to 24% more than the original offer. Today’s $5,000 offer, for example, would be worth $6,200 at Rebag in 12 months.
I have over 10 years of experience in the retail industry including expertise in marketing, operations, merchandising, buying, shopping and technology. I am a former senior managing director of The School of Retailing, University of Alberta. My education includes a Bachelor of Commerce Degree from The University of Alberta in Marketing, Certificate in Real Estate and a Diploma in Fashion Merchandising and Buying from LasSalle College, a Canadian private school founded in 1959 by fashion designer Jean-Paul Morin.