RadPad announced a great promo a few weeks ago, dropping fees for rent payments with credit cards till the end of 2016. Sounded like an amazing deal, and apparently it was way too good to keep it going. They sent out an email yesterday announcing the end of the promo.
Within days of the announcement, the promotion spread like wildfire across social media, blogs, Reddit and other news outlets. Prior to the promotion, Android Pay users represented less than 5% of all rent payments on RadPad. Six days after the promotion, Android Pay users represented 70% and the number continues to climb. Thousands of renters have signed up in the last two weeks to pay their rent using Android Pay, equating to more than $5M in rents.
Looks like within a few weeks they’ve already surpassed the budget for the entire year that was allocated to subsidize the credit card fee. So, starting from yesterday, August 24th, 2016 you can no longer take advantage of the Android Pay promotion. Anyone who signed up and qualified for the promotion prior to August 24th, 2016 will still enjoy free credit card fees as long as their rent is charged on or before March 31, 2019.
After March 31, 2019, the regular 2.99% fee will apply if you choose to continue using your credit card through Android Pay. As an alternative to credit, you can also utilize one of the following payment options:
- Switch to ACH on RadPad’s website (free)
- Switch to Debit ($4.95 fee)
Understandably RadPad customers won’t be very happy. I’m sure many people went out and bought an Android device just for this reason. RadPad apparently understands the confusion & anger this has caused many of you, and CEO Jonathan Eppers sent out his Twitter handle for those who have questions or just need to vent frustration. You can reach him directly @jonathaneppers.