Payment Method Limitations
Zelle's payment limits, ranging from $1,000 daily to $5,000 monthly, can hinder rent collection, especially given the median American rent of $1,379.
Venmo's 1.9% business fee on transactions, along with additional fees for credit card use and instant transfers, can add significant costs for landlords.
Risks and Inconveniences
Both Zelle and Venmo pose risks of tenants accidentally paying the wrong person, complicating eviction processes due to instant partial payments.
Venmo's lack of a recurring payment option and inability to cancel payments can lead to late payments and increased administrative work for landlords.