Update 2: Will code as 6513
Update: Looks like fees will be 2.75%. Looks like prepaids will work as well.
Cozy is property management company, they provide a number of tools for property managers and renters (e.g a renter profile that shows your rental history). Previously they’ve allowed you to pay your rent online, but your landlord must opt in to use the service as well. They have just announced that they will be launching Cozy Pay, from what I know the service has been in the works for awhile but they decided to announce it early due to RadPad discontinuing their RadPad Pay service.
At the moment Cozy Pay is not live, but you can join the Beta waitlist to be invited when it does go live. They also haven’t shared what the costs of this service will be, other than saying: “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.”
[Read:Â Complete List Of Options For Paying Your Rent With A Debit Or Credit Card]
The market leader in this space is Plastiq and they are currently offering rates of 1.75% for Mastercard and 2.25% for American Express (normally 2% & 2.5%). Cozy will either need to have lower fees or code in a more advantageous way for people chasing credit card rewards for it to be picked up by savvy consumers.
