There’s a new Australian rental [and strata?] payments player
Anyone who’s paid Australian rent or #stratatitle levies has probably used @Macquarie Bank’s DEFT or, to a lesser degree, @StrataPay as the payment processing platform.
DEFT and StrataPay have been around for 30 and 20 years respectively and are very dominant in real estate rental and strata management. There are also a few smaller niche operators and, of course mainstream banks are sometimes used by agents.
But, as @MichaelBleby reports in @AFR, Commbank is entering the $49B rental payments market in 2024 with a new smart platform. Apart from processing rent and strata levy payments, Commbank will offer an ‘end-to-end’ customer and agent experience and hopes to use the transaction, owner, renter, and manager information to create new lending opportunities.
So, is the existing Australian rent and strata levy payments oligopoly at risk?
