Can I configure a TP-LINK TL-WR740N as a repeater?

Thsi answer is WRONG. Sorry about this. Please neglect it.

No, unfortunately you cannot. Your model only has one wireless interface, while a repeater needs two. A single card repeater will wnd up talking to clients half of the time, and to its base station the other half of the time, thus cutting bandwidth in half.

In fact, its User's Guide makes no mention of alternative modes like wireless repeater, range extender, wireless bridge, which are all roughly synonims.

The term WDS does indicate its ability to partake in a Wireless Distribution System, however I believe it is meant to indicate that it can act as a base station, not a relay-station as required by the OP. Besides, in the manual mentioned above, there is no discussion of WDSes.

Yes you can configure your TP-Link WR740N as a repeater/wireless bridge. Following are the basic steps that you need to take to set up one:

• Go to wireless settings page of your WR740N router's web interface, enable the option "Enable WDS Bridging" and click Survey.
• Your bridge router will show you routers to bridge with. Select the appropriate one.
• Make sure that the selected security settings are the one that match with the router that is connected to the ISP and provide a password for it.
• Disable your bridge router's DHCP and restart the router.

Following these steps should allow you to set up your WR740N as a repeater. I have been using it as one without any problem so far.