Today, we are proud to announce that TenantCloud launches the collaboration with Dwolla, leading provider of secure online payment services. Dwolla integration allows Tenantcloud users to collect or pay rent directly from their bank account without transmitting sensitive financial information. A brand new technology "OAuth Account Creation" also allows tenants and landlords to create various Dwolla account types without ever leaving the TenantCloud website.
Now renters have an option to pay rent securely online — no more mailing checks or credit cards. When a renter pays with Dwolla, they share only their email address, phone number or unique Dwolla ID. Unlike other payment methods, such as paper checks or credit card transactions tenant’s financial information is not transmitted when making a payment, limiting the threat of possible identity theft. Dwolla payments offer a streamlined process that can instantly verify bank information and allow first-time users to make payments in as little as 15 seconds. Aside from paying rent, renters can pay for cleaning, maintenance, house repairs and many other services.
Dwolla was built right into TenantCloud which allows landlords to collect and manage rent payments online in a few clicks. For landlords this means no more expensive and useless rent collection services or credit card transaction fees. No more wasting time processing paper checks, all payments are taken straight out of user’s connected bank account. With Dwolla only one party pays the fee, by default, the receiver of the payment pays the $0.25, but the sender can choose to pay the fee instead. Tenants will also get an option to set up a recurring payments so the rent can be paid automatically. This also means less late fees and other rent payment disputes.
Collaborating with Dwolla
Regarding the collaboration, our co-founder Joe Edgar said:
"We are very excited about the integration with Dwolla. The Dwolla team understands the importance of swift, easy and secure online payments for both tenants and landlords when it comes to rental payments. Also, we are sure the TenantCloud system users’ information is never sold to anyone. Just like all other users’ data, financial information is really safe and secure. It means less worrying about scary things like identity theft and fraud. With Dwolla payments at TenantCloud you don’t have worry about sensitive information being passed on to tenants and vice versa. Dwolla is a premium service that move money for the U.S. Treasury and our collaboration means the best rental product for our users."