Rebag Introduces Rebag Wallet to Power Premium Payouts

News provided by

Dec 07, 2022, 09:00 ET

Within its new digital payment tool, the luxury resale authority incentivizes sellers to maximize their payouts over time

NEW YORK, Dec. 7, 2022 /PRNewswire/ -- Rebag, the authority in trading, buying and selling luxury fashion and accessories including handbags, shoes, apparel, fine jewelry, watches, and more, announces Rebag Wallet, a tool that centralizes seller payouts, known as Seller Funds, as well as all additional Rebag proceeds. Accompanying this launch is Premium Payouts, an unprecedented way to reward sellers who keep their Seller Funds in their Wallets for one or more months.

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.

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.

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.

"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."

For further information, please contact:
Factory PR, [email protected], 212.941.9394

About Rebag:

Founded by Charles Gorra in 2014, Rebag is the authority on trading, buying, and selling luxury items. Currently one of the fastest growing retailers in the US, it has established itself as a leader in the luxury resale space. Rebag's intelligent Clair AI technology, which uses millions of data points to determine the resale value of designer items, enables customers to instantly self-value their goods, a first in the resale industry. Rebag's unique Trade program offers savvy consumers the best value towards today's purchase. The digitally native company has opened retail locations in New York, Los Angeles, Greenwich and Florida. Rebag has been named one of Fast Company's Most Innovative Companies and has been featured in the New York Times, Business of Fashion, Vogue, TechCrunch and more. For more information, visit www.rebag.com.

SOURCE Rebag