We have some exciting news to share about Cozy payments. We’ve been speaking with many customers over the past few months and one theme we’ve heard consistently is the need for more flexibility in payments. The requests we’ve heard include:
- The ability to request a one-time payment from a tenant.
- Expanded payment options in addition to our current bank to bank transfers to allow tenants to pay with a credit or debit card.
- More flexibility around monthly rent due dates.
The design and engineering teams have been working through how best to incorporate these features and provide a best in class user experience. These improvements are in development right now with a scheduled release later in the summer.
As part of these improvements to payments, we’ve found a new payments partner in Stripe. Stripe is the leader in online payments and will allow us to design and deliver these capabilities in a great user experience at a much faster pace.
In order for landlords to continue to accept rent payments uninterrupted, all landlords will need to agree to Stripe’s terms of service in their Cozy account. We’ll be sending out an email beginning next week that includes a link to the terms. The only action necessary is to click the button in the email.
The move to Stripe will occur on June 9th, 2015, so please review the email as soon as you receive it. We’ll also post a message on the Cozy dashboard that landlords will see when they log in. Tenants do not need to take any action. We’re very excited at what we have planned for our customers and are working hard to get these features into the product.
As always, if you have any questions or concerns, please reach out to our amazing support team.