RentMoola Partners with BMO Financial Group to Launch the Next-Gen Pre-Authorized Debit Payments

By CIOReview | Friday, November 2, 2018
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RentMoola, a rent collection solutions provider for property managers has digitized the pre-authorized debit enrolment for monthly rent payments in association with BMO Financial Group, a Canadian financial services and multinational banking corporation. The pre-authorized debit payments (PAD) solution is specially designed for the property management industry. RM PAD+ is a fusion of RentMoolas' award-winning payments platform with BMOs' Industry leading PAD solution.

RM PAD+ allows tenants to pay with any payment method, from anywhere eliminating the need of forms and void cheques. The combination delivers a secure and protected payment method with an improved user experience for tenants as well as property management companies. Tenants can also get incentivized via RentMoola’s MoolaPerks reward program.

Patrick Postrehovsky, RentMoola Co-Founder & CEO said, "We are excited to bring RM PAD+ to the Canadian multi-family rental and apartment market. There has been no innovation in pre-authorized payments for decades until now." He emphasized on the mission by saying, "As a fintech leader, RentMoola is delivering on its mission of providing a rewarding and paperless payments solution while helping realize noteworthy time and overhead reductions to owners and operators.” He summarized by saying, “RM PAD+ enables the tenant to also easily make one-time payments which until now has been another complication.”