Canadian tenants embrace rent payment solution that earns rewards and builds credit on their largest monthly expense 

TORONTO – March 21, 2024 – Chexy, Canada’s first rent payment platform, marks a monumental year of empowering renters with financial flexibility. The company, which enables tenants to pay rent with any major credit card and earn rewards while building credit, today announced that it has processed over $30 million in rent payments in its inaugural year. By using Chexy over the past year, thousands of renters in every province across Canada have received rewards – ranging from Aeroplan points to cash back – in return for their rent payments, totalling an estimated $1 million. 

The cost of living in Canada has steadily increased, driven by a combination of factors including inflation, interest rates, and rising housing costs. By transforming rent payments from a necessary monthly expense into a tangible financial benefit, Chexy has redefined a decades-old process that, until now, has remained largely unchanged. Canadian tenants use Chexy to maximize their credit card rewards and perks, earning them cash back and travel rewards that provide the financial flexibility to save on this unavoidable monthly expense, travel, or realize financial aspirations sooner.

Chexy users cash in on rewards from rent payments

Toronto, Ontario-based Chexy user Samir Patel earned hundreds of dollars in cash back in just five months by paying rent with Chexy, citing newfound financial flexibility. “I've earned over $600 in cash back in the last five months by paying my rent through Chexy. This has given me some financial freedom to either splurge on additional items or subsidize my rent payments,” said Samir. 

Brayden Dobson, based in Ottawa, Ontario, collected over 140,000 travel points from popular loyalty programs including Aeroplan, Avion, and Aventura by paying his monthly rent through Chexy. “I've earned enough points to cover the flights for most of my planned vacations to Mexico, Spain, and Vancouver,” said Dobson. “I'm saving 90% off the cost of flights compared to if I paid cash.” 

Chexy was born out of necessity rather than opportunity, with the fundamental belief that renters deserve more from their largest monthly expense. “I had been a renter in Canada for way too long and was tired of landlords asking for cheques and not being able to get any kind of benefit from paying my largest expense on time every month,” said Liza Akhvledziani, co-founder and CEO of Chexy. “The adoption that we’ve seen over the past year, along with the countless stories we receive from our users, reinforces the vision we have for consumers to earn rewards from the essential payments they make each month.” 

Looking to the future, Chexy plans to expand its offering beyond just rent payments. Akhvledziani envisions a future where Chexy extends rewards to additional household expenses and ultimately empowers tenants to become homeowners.

“Rent is just the beginning,” emphasized Akhvledziani. “We envision a future where Chexy serves as a catalyst for financial empowerment, guiding users towards homeownership with ease and efficiency by enabling them to save on their recurring monthly expenses, build credit, and leverage some of their payments data to help the underwriting process when they are ready to become homeowners.”

Renters nationwide can join the movement towards smarter, more rewarding rental payments by signing up for Chexy today at chexy.co. 

For those eager to maximize rewards on their largest monthly expense, Chexy is awarding a mystery sign-up bonus of up to CAD$500 that new users can put towards their first month of rent paid on the platform. Those that are new to Chexy and sign up for an account between March 21, 2024 and April 15, 2024 will qualify to receive the bonus.

About Chexy 

Chexy is Canada’s first tenant-facing payment platform that enables renters to build credit and earn rewards on rent. By empowering tenants to leverage their monthly rent payments for tangible benefits, Chexy is redefining the way people perceive and engage with the rental industry. Chexy enables tenants to earn cash back or rewards with major loyalty programs like AMEX, Aeroplan and Avion, as well as with global everyday brands like Nike, Sephora, Apple, and more. To learn more, visit Chexy.co.