HomeAdvisor Expands HomeAdvisor Pay After Surpassing Millions of Dollars Worth of Home Projects

Rhea-AI Summary

HomeAdvisor, a digital marketplace under ANGI Homeservices (NASDAQ: ANGI), has expanded its payment tool, HomeAdvisor Pay, enabling service pros to accept payments from all homeowners nationwide. Since its launch in April 2020, it has processed approximately $100,000 daily, facilitating millions in total payments. This tool offers a contactless payment option, addressing consumer preferences heightened by the COVID-19 pandemic. A survey indicates that 92% of homeowners plan to hire pros this year, pushing demand for digital solutions.

Positive

• Expanded payment tool allows service pros to accept payments from all homeowners leading to increased transaction capabilities.
• HomeAdvisor Pay has processed millions of dollars in payments since April 2020, averaging $100,000 daily.
• Addresses the growing preference for contactless payment methods, particularly during the COVID-19 pandemic.

Negative

• None.

DENVER, Oct. 14, 2020 /PRNewswire/ -- HomeAdvisor, a leading digital marketplace and operating business of ANGI Homeservices (NASDAQ: ANGI), has expanded its digital payment tool HomeAdvisor Pay to allow HomeAdvisor's service pros to reach all homeowner customers nationwide. Service pros can now request and receive payments from any customer including HomeAdvisor customers and customers not from HomeAdvisor. According to HomeAdvisor's  2019 State of Home Spending Report, 60 percent of consumers still pay for their home service projects via traditional high-contact methods like cash or check. HomeAdvisor Pay is making an easy, economical way for more home service pros to accept credit card payments and make it easier for customers to pay for home services.

"We love HomeAdvisor Pay," said Seth Rambo, owner of Ascape Landscaping in Scranton, PA. "It's a seamless way for our customers to pay for their invoices, that is not only user friendly for our customers, but user friendly for us as well. We can create a payment request and send it to the customer within a few clicks."

Since its initial rollout in April 2020 amid the beginning of the pandemic, HomeAdvisor Pay has facilitated millions of dollars of total payments, processing on average $100,000 each day. The feature delivers both pros and homeowners a contactless, payment method that removes the friction associated with traditional payment options that often require frequent trips to the bank, handwritten checks, delayed invoicing and steep additional fees for small businesses.

"Right now, we are seeing people across the United States spend more time at home and take on home projects. For our pros, it's important they are able to offer all of their customers the frustration-free, contactless option to pay for services through HomeAdvisor Pay," said Brandon Ridenour, Chief Executive Officer, ANGI Homeservices. "We're excited to expand our digital payment offering as we know that pros on HomeAdvisor look to us to deliver solutions that make their businesses run more efficiently and homeowners rely on us for friction free service."

A recent survey from ANGI Homeservices, found that 92% of homeowners who typically hire home service pros plan to hire a pro this year and people are turning towards digital payment tools for home services, likely accelerated by homeowner preferences due COVID-19 pandemic and the growing number of Millennial homeowners who expect digital solutions. HomeAdvisor Pay removes all need for high-contact payments and allows for contact-free transactions. 

"HomeAdvisor is able to pass along technology, availability and fast business opportunities.," said Sharon Hoekstra, owner of Ezekare, an exterior improvement and lawn company, based in Manchester, CT.  "I absolutely love HomeAdvisor Pay. We had been searching for credit card companies to use, but the rates were outrageous and many did not want to work with us. HomeAdvisor Pay is incredibly important for us."

These new tools are available on the HomeAdvisor and HomeAdvisor pro app on Android and iOS. To learn more about the new features and HomeAdvisor, click here.

About HomeAdvisor
HomeAdvisor® is a digital marketplace evolving the way homeowners connect with service professionals to complete home projects. With HomeAdvisor's on-demand platform, homeowners can find and vet local, prescreened home service professionals; view average home project costs using True Cost Guide; and instantly book appointments online or through HomeAdvisor's award-winning mobile app, which is compatible with all iOS, Android and virtual assistants, including Amazon Echo. HomeAdvisor is based in Denver, Colo., and is an operating business of ANGI Homeservices, Inc. (NASDAQ: ANGI). 

View original content:http://www.prnewswire.com/news-releases/homeadvisor-expands-homeadvisor-pay-after-surpassing-millions-of-dollars-worth-of-home-projects-301151703.html

SOURCE HomeAdvisor

FAQ

What is HomeAdvisor Pay and how does it benefit service professionals?

HomeAdvisor Pay is a digital payment tool that allows service professionals to accept payments from all homeowners, enhancing transaction ease and efficiency.

How much has HomeAdvisor Pay processed since its launch?

Since its launch in April 2020, HomeAdvisor Pay has processed millions of dollars in total payments, averaging $100,000 daily.

Why is HomeAdvisor Pay significant during the COVID-19 pandemic?

HomeAdvisor Pay provides a contactless payment solution, reducing the need for high-contact payment methods, which is critical during the pandemic.

What percentage of homeowners plan to hire service professionals this year according to ANGI Homeservices?

A recent survey indicates that 92% of homeowners who typically hire home service pros plan to do so this year.