LetUs, CheckAlt Team On Streamlined Check Payments

LetUs By RentMoola has partnered with lockbox and treasury management company CheckAlt in order to allow for quicker check payments, according to a press release emailed to PYMNTS.

CheckAlt’s solutions are used by financial institutions (FIs) and companies, including several property management and community associations, the release stated. Check payments are still used today for purchases above $100.

A Qualtrics study found that 42 percent of millennials still use checks for some transactions like rent payments, according to the release.

By partnering with CheckAlt, LetUs By RentMoola can offer several ways to boost payments, including through eTransfer, lockbox and check scanning, the release stated.

The new features also let landlords ease delays, errors and fraud associated with those payments, and rent payments are reconciled on the manager’s dashboard automatically like any other digital rent payment, which could reduce the risk of loss or delays that might happen otherwise, according to the release.

By offering 100 percent coverage for all types of payment methods and channels, landlords don’t see disruptions in cash flow, the release stated.

“For us, it’s about providing our customers choices and allowing them to pay with what they are comfortable with in a particular situation,” said LetUs By RentMoola CEO Karthik Manimozhi, in the release. “True democratization of financial services is all about consumer empowerment.”

CheckAlt Vice President of Business Development Levi Saada said in the release: “At CheckAlt, we pride ourselves on promoting payment flexibility, as well as a streamlined reconciliation process. With this new partnership, LetUs by RentMoola will be able to leverage best of breed technology to provide a truly holistic payment receivables experience for all property managers in the U.S.”

In March, RentMoola added new features by expanding its partnership with Paysafe, PYMNTS reported. Users can get a barcode for their mobile device and pay their rent in cash at participating physical locations.