Pay Over Time.
StretchBill is a payments platform for renters to split payments over time, paid directly with their online banking credentials. Property Managers save thousands on payment fees and attract new renters with StretchBill!
GroupPay
For groups that want to split the cost of a booking
The person booking enters each group member’s name/email:
Automated notifications and real-time payment status
The group must pay in full within a week of booking
Works for any booking with an arrival 10+ days out
InstallmentPay
# of installments and interval can be customized by the property manager
Similar to layaway, booking paid in full before arrival
Property manager chooses if it is a free service to the renter or convenience fee model
SinglePay
Booking paid in a single transaction at half the cost of credit cards (1.5%!)
Great for last-minute bookings
Fastest payout to property managers
HOW DOES STRETCHBILL WORK?
The easiest way to offer renters flexibility to pay over time.
StretchBill combines a pay-by-bank service with a flexible payment schedule, making it easier than ever for property managers to accept direct bookings WITHOUT credit card fees.
StretchBill works similar to layaway (not lending). The renter must pay all installments (booking paid in-full) before arrival or risk booking cancellation. There is no interest, installment, or late fees charged to the renter. There has never been a better time to offer StretchBill as an alternative to credit cards.
THE PROCESS
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Renter is offered the option to pay via StretchBill as either an online booking button or email link from property manager
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On the booking page, renter clicks the StretchBill button with a flexible payment plan - as an example, 4 payments paid every 2 weeks.
Entire booking must be paid in full in advance of the arrival date.
Renter connects their online banking and StretchBill processes the initial payment.
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StretchBill sends reminders a day before scheduled repayment date, and collects repayments over the scheduled period from the renter's authenticated bank account.
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After all installments have been processed, StretchBill sends the payout to the property manager’s bank account at a cost of only 1.5% (compared with credit card fees of ~3%).
PROPERTY MANAGERS
Which property managers can benefit from StretchBill today?
Currently vacation rental property managers are eligible for the StretchBill platform. With many more property categories coming soon!