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How payments work at Cozy

How payments work at Cozy

Why landlords and renters trust us with the largest payments

Cozy helps landlords and renters send and receive billions of dollars in payments every year. These are some of the largest payments people make and receive each month, and we do everything possible to make sure their money moves safely and efficiently. Here’s how.

Our partners, infrastructure, and security

We work with Stripe for payment processing. Stripe operates in 25 countries, and they’re set up for the long term. We’ve spoken to many payment processors and banks over the years, and Stripe continues to meet our high standards for reliability, security, and technology. And Stripe impresses us with their integrity and innovation. They quickly uncover and remedy any issues that arise as a result of their complex business.

We love Stripe (and they love us!), but the buck stops with Cozy. We take responsibility for every dollar we process. We created the following safeguards to make sure our payment processing is safe and reliable:

Our Trust & Safety team makes sure that every single Cozy payment goes through several layers of fraud detection. We use multiple state-of-the-art tools to evaluate payments.

We keep our infrastructure up to date, which ensures we receive security updates as soon as possible. The Equifax breach of 2017 was a result of a security update that took months to apply. Similar updates to Cozy’s environment are applied in days, or even the same day, for critical vulnerabilities.

We actively and voluntarily pursue data security. Cozy is voluntarily compliant with PCI DSS, even though we do not store credit card information. (It’s in Stripe, so why also store it on Cozy?) PCI DSS is one of the most stringent organizational security standards in financial technology. We hire third-party security specialists to perform yearly audits. For example, the leak of credit card information at Home Depot in 2014 was due to insufficient PCI DSS compliance.

We employ an extremely rigorous software development process. Every code change is backed with automated tests and reviewed by at least two engineers. Cozy has to work reliably. We understand how costly bugs can be, like when Knight Capital lost $441 million in 45 minutes.

How your money flows

Even with all of these safeguards in place, it’s important that we move your money securely. That’s why Cozy never takes custody of your funds during a payment transaction. Our processing partner Stripe is a licensed money transmitter that moves your money on our behalf. Funds travel from renters’ bank accounts and credit cards and are deposited in landlords’ bank accounts via the ACH system. Cozy has no access to your money while it’s in transit.

Support at Cozy

If you have specific questions on how Cozy works for landlords or renters, visit our Help Center or watch our how-to videos on YouTube. If you have any questions about payments or other Cozy features, our Support team is available seven days a week at

We’re in this for the long haul, and we’re happy you’re on the journey with us.

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