PYMNTS.COM: Obligo Founder - Security Deposits Are Due For A Payments Upgrade

The joy of renting a new apartment also comes with misery: handing over a large sum of money to the landlord for a security deposit, which then sits useless in an account, earning virtually nothing. Not only do tenants dislike that payment ritual, but — and this may come as a surprise — so do many landlords.In a new PYMNTS podcast interview with Karen Webster, brothers Omri Dor and Roey Dor, who founded a company called Obligo, talk about why they think the latest technology and credit-scoring methods can help change how security deposits are done. The payment product they have developed is undergoing beta testing with select landlords in New York City. The general idea is to get rid of those up-front security deposits altogether, which generally cost at least one month’s rent, with higher fees charged to tenants with low credit scores — who are, otherwise, considered a bigger risk or who are renting in high-priced markets.

Check out the full article here: 
https://www.pymnts.com/digital-payments/2018/security-deposit-payments-upgrade/