Cozy, a property management company, also offers the option to pay your rent online with a credit or debit card. They’ve done so for a while, but the problem is that your landlord should sign up for you to be able to send rent payments. That made the service kind of useless for most people, since not many have the landlords that friendly that will sign up for a service that you refer.
But all that will change when they launch their new service, Cozy Pay. Cozy Pay will let you securely send rent online to any landlord, anywhere, even if they’re not signed up for Cozy. So it will work the same way as Plastiq or RadPad until their rent payment shutdown.
Cozy Pay is not live yet, and the announcement was apparently rushed in order to get some of those RadPad customers to switch over. For now you can just sign up for the the beta waitlist and you’ll be notified when Cozy Pay is launched.
Their blog post claims that the price for Cozy Pay will be reasonable and fair, so you’ll be able to rely on Cozy for as long as you are a renter. Reasonable and fair should mean that they will try to compete with the biggest player that’s left after RadPad’s demise, Plastiq.
The current fee for paying by credit/debit is 2.75%, that’s higher than Plastiq. That’s for Visa, Mastercard and Discover, Amex is not accepted. ACH payments are fee free. Hopefully we’ll see a different pricing for Cozy Pay but that seems unlikely. The image shows a 2.75% fee in what is supposed to the the Cozy Pay app.
HT: DoC & his sharp eyed readers