RentMoola, an online rent payment service focused on disrupting the traditional pay-rent-by-cheque approach used by most North Americans, today announced it would position MasterCard as its preferred payment brand on RentMoola’s payment network in the U.S. and Canada.
The agreement provides tenants and condo owners a preferred rate for all MasterCard credit and debit card payments as well as rewards with exclusive offers when paying with MasterCard-branded cards on RentMoola. In addition, RentMoola will offer users the ability to pay with MasterPass by MasterCard in early 2016.
MasterPass enables consumers to pay for the things they want with the security they demand, anywhere online or in-app, using any device. MasterPass securely stores shoppers’ preferred payment information, which is readily accessible when they check out. Once live with RentMoola, MasterPass will give tenants the option to simply select “Buy with MasterPass,” sign into their wallet, select their desired payment option and then confirm the rent payment.
Patrick Postrehovsky, CEO & Co-Founder said, “We are pleased to partner with MasterCard and offer our tenants the ability to make paying their rent rewarding and frictionless by leveraging their rewards programs when paying rent. MasterCard and RentMoola share the belief that consumers want choice and rewards, something checks/cheques and other payment methods do not offer. MasterCard is a valued partner in our business and we look forward to additional partnership opportunities that offer increased value to MasterCard cardholders.”
Chris Gardner, VP of Public Partnerships, Market Development, MasterCard, added, “Consumers want payment options and choice. The demand for credit card acceptance with rental payments is growing in North America and by partnering with RentMoola the experience becomes easier and more secure for property owners, managers and renters.”
This partnership further supports the growth of online rent payments, an emerging market segment that continues to see significant growth and adoption of credit card and debit card payments across North America.