Reverb has launched the Reverb Wallet, a new feature that helps US users of the online marketplace get more money for the gear they sell, and get paid quicker.
Last month, Reverb UK was relaunched with reduced seller fees, and now it has mirrored those moves for users on the other side of the Atlantic.
Users will get a 1% cashback bump on their sales for placing funds in their Reverb Wallet rather their bank accounts, while payouts are quicker than ever, too. Reverb adds that “exclusive perks” are also around the corner.
It’s a minor bump – a $500 sale of an unused electric guitar would earn Wallet users an extra $5. The cashback is built into the Wallet balance and cannot be withdrawn. It will automatically be put towards future purchases on the site, and expires one year after it’s earned.
It works by keeping funds earned within the platform, with the 1% bonus a thank-you from Reverb for doing so. Funds will transfer quickly and securely, making it easier to give into those GAS temptations.
The Reverb Wallet is powered by “a trusted and regulated payments platform,” and promotional offers exclusive to Wallet users are being planned.
“One of the most important parts of music making is trying out new sounds. Whether you’re upgrading from an Epiphone Les Paul to a Gibson, we want to make that journey as easy as possible,” explains Reverb’s Chief Technology Officer, Jason Wain.
“With Reverb Wallet, players get access to more gear when they turn their old guitars, synths, pedals, and other instruments into higher earnings that help them refresh their rig.”
The Wallet can be accessed in the payment settings section, found on the policies page of a user’s account.
It’s a move that comes after Etsy became an independent company again following its sale from under Etsy's ownership. It was acquired by two investors who promised a host of “exciting changes” would follow.
New owners Creator Partners also have stakes in BMI, Soundcloud and Servco, which helped buy Fender from CBS in 1985 before purchasing a majority stake in 2020. However, it has reinstated Reverb as an independent firm, despite those links.
In addition, Reverb has assured that Fender would not get preferential treatment as a result of the takeover. The store’s Fender Pre-Owned Certified program for trading second-hand Fender gear was launched in 2024.
Visit Reverb for more information about Reverb Wallet.
