The Benefits of Partnering with a Money Service Business
Leveraging innovative solutions that ensure compliance, reduce risk and add a line of defense to your current payments solution.
See how partnering with a Money Services Business (MSB) can help ensure compliance and reduce risk of managing resident payment processing.
This informative video with RealPage® SVP Payments, Nancy Crouch Morlini, and RealPage Treasurer, Dan Jones, touches on specific advantages of working with an MSB:
Ensuring compliance and mitigating risk
Regulatory oversight is significantly higher for MSBs than for Third-Party Payment Processors (PPPs) and Money Transmitters (MTs). This added oversight makes certain that safeguards are in place to address compliance and fraud, which can provide an increased level of comfort for both PMCs and residents.
Benefiting from a higher level of financial scrutiny
Banks and regulators require MSBs to monitor their financial strength and report those results on a regular basis, ensuring their financial solvency and ability to meet the transactional needs of their clients.
Driving efficiency through a direct relationship with residents
Working with an MSB allows you to create a direct relationship between the MSB and your residents. This means the MSB can engage directly with residents for online payment, thus, reducing the payment processing workload for your staff.
Leveraging an increased level of innovation
The regulatory requirements faced by MSBs result in a higher level of innovation as regulators push for advances in new payment options that take advantage of emerging technologies—creating a better customer experience for residents.
To learn more on how partnering with MSBs can benefit you and your residents watch this informative video.
To learn more about RealPage payment solutions, visit https://www.realpage.com/online-payments/.