Letus to offer BlueSnap embedded payments for rental transactions

Monday 3 October 2022 14:58 CET | News

Canada-based cloud payment platform Letus has chosen BlueSnap to power payments for the property rental market.


BlueSnap, a global payment orchestration platform that offers embedded payments solutions for SaaS platforms, amongst other products, will help Letus facilitate global payments and provide flexibility for rental transactions. BlueSnap’s embedded payments product, BlueSnap Relay, is a Payfac-as-a-Service, the white-label offering protecting organisations from risk, while allowing them to brand it as they see fit. The partnership allows BlueSnap to solidify its incursion into the SaaS vertical of cloud platforms for property rental markets, while Letus can improve its user experiences, global payments features, and flexibility for rental payments.

Letus representatives have stated that BlueSnap’s technology is aimed at helping tenants pay their rent on time and at improving the rent collection process for property managers.

With SaaS platforms looking to capitalise on the financial benefits of adding payments to their software platforms, the embedded payment industry is booming. In the rental SaaS market, adding payment capabilities increases the chances of collecting rental payments on time, as users are given the option of selecting between multiple payment options within one platform. With properties displaying a great need to receive regular and timely rental payments to maintain a healthy cash flow, BlueSnap’s embedded payments solution will enable Letus’ growth.

BlueSnap representatives have stated that the partnership comes at a vital moment in time, with rental prices across the US having hit a record high, and with over 43% of consumers carrying out their bill payments online, including rent.

Canada-based cloud payment platform Letus has chosen BlueSnap to power payments for the property rental market.

Letus past developments

Letus is a fintech company that combines financial services and rental payments in one platform. In August 2022, the company announced their partnership with Splitit to integrate Instalments-as-a-Service for the property rental market. This gave tenants the option of spreading the costs of their expenses, be those rent or security deposits, over the course of monthly instalments on their preferred credit cards, with no additional interest charges being applied.

In May 2022, the company teamed up with identity services company Trust Stamp to provide transaction security for renters and landlords via facial biometric verification.

BlueSnap product offering

BlueSnap supports payments across all geographies through multiple sales channels such as online and mobile sales, marketplaces, subscriptions, invoice payments and manual orders through a virtual terminal. When it comes to businesses looking for embedded payments, the company offers white-labelled payments for platforms with automated underwriting and onboarding that supports marketplaces and split payments. Businesses can sell in over 200 regions with access to local card acquiring in 47 countries, 100+ currencies, and 100+ global payment types, including popular e-wallets, automated accounts receivable, world-class fraud protection and chargeback management, built-in solutions for regulation and tax compliance, and unified global reporting, all done with one integration and contract.

For more information about BlueSnap, please check out their detailed profile in our dedicated, industry-specific Company Database.

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Keywords: partnership, cloud, embedded payments, embedded finance, SaaS, online payments, cloud services
Categories: Payments & Commerce
Companies: BlueSnap, letus
Countries: Canada
This article is part of category

Payments & Commerce




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