RadPad has just sent out the following e-mail to users of their Pay with RadPad service:
“We wanted to let you know that effective Thursday, October 13, 2016, we will no longer be processing and paying rent payments
As a current RadPad rent payer, RadPad will no longer be making rent payments for you. Effective immediately, you will need to find an alternative for making your rent payments. We apologize for any inconvenience this may cause you.
On Monday, October 31, 2016, your RadPad payment account, which includes your payment information, landlord’s information, and rent payment history will be permanently deleted.
Thank you very much for allowing us to pay your rent.
Sincerely,
Team RadPad”
This will be a pretty big blow for some people as the Chase Sapphire Reserve was coding as travel when using Android/Apple pay, triggering 3x points and also the $300 annual travel credit. There are other options for paying rent with a credit card, the most popular is probably Plastiq. They frequently offer promotions, but their standard rate is 2.5% for credit cards and 1% for debit cards.
At this stage we don’t have any idea why RadPad is shutting down this service, but we’ve contacted them for comment. The lack of notice is particularly worrying.
View Comments (34)
Here comes the official annoucement.
https://blog.onradpad.com/pay-with-radpad-announcement/
I have already loaded up my PayPal account and need to use the RadPad one last time to get the money out. It appears that RadPad didn't follow their own TOC to give 30 day notice:
"Any changes to the Terms will be effective immediately for new users of the Services, provided that any material changes shall be effective for Members upon the earlier of thirty (30) days after posting notice of such changes on the Site, or thirty (30) days after the dispatch of an email notice of such changes to Members."
Anyone knows who regulates RadPad?
Anyone have any data points on paylease and how it codes?
I believe their fee is ~3% so only a Radpad-esq travel code could possibly justify it (via CSR)...
haha. didnt we already know this was gonna happen?
maybe for reference...
https://www.doctorofcredit.com/csr-counts-radpad-travel-apple-pay-android-pay/
Does anyone know if payment with PayPal debit card (MasterCard) with Plastiq incur a 1% or 2% (1.75% with Rent Promo) fee?
I believe that regular debit cards are 1%.
1% with PPBDC. I paid today.
so plastiq time from now on
@William:
Regarding your Plastiq promotions link, I don't see the most recent one yet. They recently renewed/extended the last promo for rent/mortgage to 10/31/16 (MC @ 1.75%), but also tacked on Amex at 2.25% this time.
A 0.25% discount for Amex isn't much, but every little helps for Amex organic spend options I suppose, considering the scrutiny surrounding MS on Amex-issued cards.
Agreed on the Amex. Looks like Plastiq is the way to go to meet MS. I'll gladly pay the 1% premium over GC & MO fees to save two lunch breaks (and related stress) a month.
Plastiq has a promotion for 1.75% mastercard payments: http://millionmilesecrets.com/2016/10/12/limited-time-pay-mortgage-or-rent-with-1-75-credit-card-fee-2/
I think this email is targeted and they are only shutting down certain customers. I never received this email.
Why would they shutdown certain customers? RadPad is done-zo.
Check your junk mail folder.
Nope, nothing. I am not the only person that has not received this email either.
“Everything we do is based on our ability to ensure our renters and landlords are who they say they are,” Jonathan Eppers, CEO of RadPad, explained. “Integrating TeleSign Score has helped our brand reduce fraudsters’ chances of creating multiple fake accounts and disrupting the genuine user experience. TeleSign Score has not only helped us streamline the account registration process; we’ve also increased conversions and securely grown our user base with verified users.” October 7, 2016. http://www.pymnts.com/news/security-and-risk/2016/telesign-uses-machine-learning-to-fight-fraud/