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Discover Credit Card Payments
Discover Credit Card Payments
RYN avatar
Written by RYN
Updated over 7 months ago

Frequently Asked Questions

  1. How do I set up credit card payments for my tenants?
    To set up credit card payments for your tenants you can customize payment options by going to their profile and selecting "edit" at the bottom of the left menu. Scroll down to the invoicing information section and choose how you want to collect payments. This feature gives you complete flexibility and control over payment collection.

  2. Are there any fees associated with accepting credit card payments?
    Yes, there are fees associated with accepting credit card payments. The fees vary depending on the payment provider that you use. Contact us to understand what are the fees associated with your account.

  3. What information do I need to collect from my tenants in order to process credit card payments?
    To process credit card payments from your tenants, you don't need to collect any additional information from them. If you have already collected their contact information, you can invite them to pay by credit card and provide them with the necessary instructions

  4. Can I set up automatic recurring credit card payments for my tenants?
    Currently, we support an automatic recurring credit card payment feature that is present in the tenants' Apps.

  5. How long does it take for credit card payments to process and show up in my account?
    Credit card payments typically process immediately and show up in your account wallet. If you have automatic payouts enabled, the funds will be transferred to your bank account according to the payout schedule you have set up.

  6. What happens if a tenant's credit card is declined or the payment doesn't go through?
    If a tenant's credit card is declined or the payment doesn't go through, they will receive an error message and need to review and update their payment information.

  7. How can I view and track credit card payments on RentYourNest?
    To view and track credit card payments in your property management system, go to the wallet section in your settings. Here, you can view transaction history, and payment details, and download reports for accounting and reconciliation purposes.

  8. Is accepting credit card payments secure for me and my tenants?
    Accepting credit card payments is secure for you and your tenants. Every transaction happens with encrypted connections as we are using our payment provider Mangopay which provides a lot of security services.

  9. How can I offer other payment options to my tenants alongside credit card payments?
    In addition to credit card payments, you can also offer and receive other payment options to your tenants, such as bank domiciliation or SEPA mandates. This allows tenants to authorize automatic bank transfers directly from their bank account to yours, without the need for a credit card.

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