Case Study

RentMoola

Simplifying rental payments into one efficient, secure platform

Objectives

  • Simplify the process of collecting rent payments
  • Give tenants choice on payment method
  • Provide reconciliation and management tools to property managers

RentMoola is one of North America’s leading FinTech companies and a pioneer of the rental payments market. Its innovative online payments solution enables property managers and landlords across North America to collect rent and other property-related fees securely online by credit card, debit card, and bank account.  

Through its easy-to-use interface, tenants can pay rent anytime and from anywhere from their computer, tablet or mobile device. RentMoola’s MoolaPerks program includes hundreds of exclusive deals on travel, shopping and lifestyle products from a variety of different brands.

RentMoola, and its award-winning solution, has been recognized as a top technology company to watch and we’re proud to have supported their growth since their launch in 2013. 

Taking away the stress of paying rent

RentMoola’s mission is to streamline the rent process by simplifying payments into one efficient, secure platform for both tenants and property managers. In an age of rapidly emerging card and online payments, cash and cheques are becoming inherently unreliable and inefficient ways to pay. 

However, property managers and landlords can find it difficult to change old habits, even if those habits sometimes are expensive and result in problems – consider the costs associated with depositing a cheque and the challenge of reconciling the month from so many different payment channels. Automating and rewarding both tenants and property managers enables a frictionless payment solution that not only helps to manage payments but also reduces costs.

RentMoola pioneered this solution and needed to streamline its payment management procedures to help it grow across North America. It required an innovative payment processing platform that was simple, user-friendly, and offered incentives for users to change their habits of outdated rent payments. It was crucial that tenants had a choice between one-time and recurring monthly payments and a choice of payment method.  

We supported RentMoola’s innovative platform by providing it with a customized integrated global payment processing service for its growing operations across North America.

As a result, RentMoola now offers a fully automated, real-time payment service for property managers and their tenants. With the help of our bespoke solutions, its payment solution allows tenants to pay rent securely online. The platform also provides instant notifications which allow for quick resolution of failed payment attempts, compared to a two week wait for bounced cheques. The process has proved to be both frictionless whereby property managers received quicker funds.

As a result of our partnership, RentMoola is now live with hundreds of millions of dollars already processed. Our solutions have seen it achieve an average year-over-year growth of 20% in processing dollars and processing transactions.

“Paysafe’s payment processing technology and commitment to innovation has enabled us to grow our business.”

- Richard Robins, Senior Vice President, RentMoola