ERA, LytePay, Rapyd launches business wallet and payment card for real estate agents

The card is set to offer instant commission payouts and other financial benefits.

Financial solutions provider LytePay and fintech company Rapyd have partnered to offer real estate salespersons (RES) of ERA Singapore a business wallet and a complementary Mastercard, the companies confirmed in a joint press release.

With the embedded service LyteMoney, the business wallet will allow RES to instantly cash out their sales commissions, a process that usually takes two to six months. In addition, they can use the app to gain insights into income data, invoice clients. In the coming months, sales agents will be able to put in contributions for their retirement funds, purchase health insurance and more, the press release noted.

Aside from the cash-out service, the business wallet will also provide a payment card powered by Rapyd’s card issuing capabilities. The card, called Lyte Talent Card, enables RES to use their yet-to-be-paid commissions anywhere Mastercard is accepted. RES can also track and pay for their business expenses such as staging a client’s home for viewing and paying for listing fees on property marketing platforms through the service.