No, there isn't.

Interac, Credit and Debit cards.

Interac payment settlement takes 24 hours; and credit/debit card payments are processed within 3-5 working days

Yes you can all you have to do is log in to your account and navigate to rent payment. You will be able to view your payment history and transaction status here.

• Ease of payment: Payments can be made via Interac, Credit & Debit cards
• Opportunity to build credit with rent payment
• Opportunity to earn redeemable points on every rent paid that can be converted to gift card rewards

Payfi reports each on-time rent payment to Equifax and this helps build your credit.

Absolutely not!

Absolutely Yes!

To convert your accumulated points into gift card rewards:

• Log into your account
• Navigate to rent payments
• Select "current points"
• Click "redeem points"
• Follow the prompts. Your gift card will be sent via email.

Yes, there are. Charges depend on your credit/debit card service provider. However, Interac is free.

No, there is not. It is however advisable that you pay your rent before your due date for it to count positively toward your credit score.

Yes, you can unlock the loyalty incentives offered by your credit card provider by paying your rent with your credit card

Not at this moment but we are working on that

Once you start, you can see your current credit scores. Every month, after we've taken payment and reported to Equifax, a major credit bureau, you'll be updated with any changes. It's that simple!

Your credit score can be positively affected by making payments on time, but the opposite is also true: missed or late payments can harm your credit. But don’t worry, you’ll get monthly reminders to pay your rent on time. Payfi is committed to your success in Canada.

Payfi's Credit Building tool uses data from Equifax, a leading Canadian credit Bureau, to provide you with your credit score. Please note that your score may differ slightly from those reported by other services due to the existence of two major credit bureaus in Canada, each with its own scoring method.

A credit bureau, such as Equifax, gathers information from businesses you owe money to, including your payment history, to assess your financial responsibility.

Yes, having a positive credit history with regular, on-time rent payments can improve your credit score, making it easier to qualify for loans, credit cards, and other financial products.

There is no minimum amount required for rent reporting. All rent payments made through Payfi will be reported to Equifax, regardless of the amount.

This depends on which lender you get your mortgage with. In general, you’ll want your score to be at least 620 to get a mortgage with a traditional lender (like a bank). But the better your credit scores, the more likely you are to get lower interest rates on your Mortgage.

The average credit score needed to buy a car in Canada is around 680. However, this can vary depending on several factors, and individual lenders may have slightly different requirements. It's always a good idea to check with multiple lenders to compare rates and terms.