Rent.com.au flags BNPL capabilities for RentPay through SkyCredit partnership

Tenants seeking flexible payment options could soon have the option to live-now-pay-later their rental payments and bonds with Rent.com.au (ASX: RNT) partnering with SkyCredit for integration into RentPay, the real estate app set to provide a much needed bridge between tenants and landlords.

The 5-year-partnership is an extension of RentPay’s existing partnership with SkyCredit which has provided services for RentBond – a product that enables renters to bridge the gap from one rental to another by financing their bond online. Key elements to the partnership extension will include “BNPL type product features” that Rent.com.au intends to build into the RentPay app alongside payments tech provided by fintech partner Novatti Group (ASX: NOV).

“We see RentPay as a platform providing a broad range of services that renters want and need to manage their renting experience, rather than simply just a payments mechanism,” said Rent.com.au CEO, Greg Bader.

“Of course, we intend RentPay to totally change how rental payments work by providing features such as allowing scheduling of payments when it suits the renter, but still paying the agent or landlord on time. A key component of this flexibility is allowing customers to overpay (i.e. building a buffer for a rainy day – a feature requested by 42% of our customers) but the reverse also applies when a renter experiences unexpected costs.”

The exclusive partnership will be facilitated by SkyCredit’s Australian Credit Licence, enabling Rent.com.au to market credit products and receive commission on credit originated from Rent.com.au products.

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Source: Rent.com.au flags BNPL capabilities for RentPay through SkyCredit partnership – The Sentiment