Through this partnership, RentMoola is able to offer payment and onboarding services for merchants and customers via Optimal Payments NETBANX online payment gateway.
The North American rental market is worth USD 50 billion annually but currently only 3% of payments are made by credit card. A recent survey by MasterCard revealed that as many as 60% of property managers report that post-dated cheques, the most common method of payment, result in payments being late by up to four weeks in duration. Paying by credit card reduces late payments and rental revenue loss while increasing working capital for property owners. Moreover, a credit cards instant payment error notification allows for quick resolution of failed attempts as compared to as long as three weeks for bounced cheques.
RentMoola is a global payment network that allows tenants and owners to receive rewards for paying for rent and condo fees on line via credit card or direct debit. Members receive MoolaPerks, which provide discounts and exclusive access to transportation, food, beverages and other rewards redeemable across North America and the UK.
Optimal Payments provides credit-debit card and e-check (Direct Debit) services to retail/point-of-sale, internet and mail-order/telephone-order (MOTO) to merchants in Canada, the US, Europe and the Caribbean.
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