Doing well by doing good: why eCash is the solution to current rent payment dilemmasFeb 09, 2022
Financial inclusion has turned into a flagship goal many companies strive to support. In the Leaders in Payment Podcast Jan Marc Kuelper, VP eCash USA at Paysafe, and Jean-François Brissot, Chief Product Officer at RentMoola, discuss with host Greg Myers what it means to drive financial inclusion in the rent industry and how eCash can simplify the process.
The discussion starts with a crucial statistic: one out of four Americans is either unbanked or underbanked. This phenomenon does not only describe the poorest regions of the country, but it reflects the difficult financial condition of many people across the U.S. The global pandemic has not made things easier, which is why business needs to act now to support those whose financial struggles might reach existential levels, e.g. when a rent payment is due. Support is needed also for property managers who face a challenging situation when they do not receive money from their tenants on time. Integrating eCash as an additional payment solution effectively helps both sides overcome payment difficulties.
With his broad expertise on the rent industry, Jean-François is aware of the challenges faced in the U.S. and Canada. When pointing at eCash as an excellent solution for the rent payments, he highlights transparency and security of the process and emphasizes the importance of flexibility provided by this solution, such as the opportunity for last-minute rent payments. Many Americans experience delays in receiving salaries paid in cash, especially when they are a part of the so-called gig economy. When money arrives late, they might have difficulties to pay their rent on time. With eCash, they get a longer time frame to make the payment, which translates into a decrease in delays in collecting money for property managers.
Wondering what other benefits can be gained when integrating eCash in rent companies’ payment systems, what exactly we mean by the “payment dilemma” in the United States and why does eCash appear as a simple solution? Listen to the podcast below to find out more. You are welcome to contact us to talk about your individual business case.