RentMoola launches pre-authorized debit payments tool

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RentMoola, a Vancouver-based fintech company that helps property owners collect rent via an online platform, announced plans to launch a pre-authorized debit (PAD) payments system for the property management industry.

RentMoola partnered with BMO Financial Group to launch PAD to digitize pre-authored debit enrollment for monthly rent payments. RentMool aims to cut down the need for form and void checks, and enable tenants to pay anywhere using any payment method. Tenants can also access RentMoola’s ‘MoolaPerks’ rewards program.

“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,” Patrick Postrehovsky, RentMoola co-founder and CEO, said.

“As a FinTech leader, RentMoola is delivering on its mission of providing a rewarding and paperless payments solution while helping realize significant time and expense reductions to owners and operators. RM PAD+ allows the tenant to also easily make one-time payments which until now has been another pain point, he added.

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