The Real Secret Behind RealPage ResidentDirect Part 2
People who live at your properties want to pay rent and other fees with credit cards, debit cards and even with ACH. Paying rent by cards is an amenity for those that need it, the growing percentage who ‘need’ it every month.
RealPage took the time and spent the millions of dollars necessary to ensure we are an approved and licensed Money Services Business with both the US Department of the Treasury and state banking regulators.
We posted the bonds, funded the cash reserves, implemented the money laundering detection systems, implemented OFAC screening, and completed the banking controls and ¬financial audits to operate as a non-bank -financial institution.
Our system takes away the burden associated with managing convenience fees and card fees reduces the risks associated with federal and state laws, and removes underwriting roadblocks.
This means that we provide the platform for your residents to process rent and deposit it to your account, while RealPage collects the fees directly from the resident.
So here’s the deal:
- We are a licensed money services business and substantially reduce your risk related to accepting debit and credit card payments.
- The resident pays all the fees so you don’t deal with any of the hassles of managing all the fees.
- You’re able to open up all forms of payment to your residents so that you can get more online payment adoption and give those who want to use credit cards that option.
Now there’s no reason NOT to start using RealPage Payments Services ResidentDirect today.