NEW ORLEANS, LA – 365 Connect, the leading edge, web-based, technology platform provider to the multifamily industry, today announced that it has entered into an agreement with Payment Service Network (PSN) to offer an affordable online rent payment solution for apartment dwellers. This new addition to 365 Connect's technology channel platforms will bring the convenience of paying online to residents who have been previously discouraged by high fees. The program also has the collateral benefit of automating and accelerating the collection and posting of rent payments.
365 Connect, anticipates that the company's clients will focus on Automated Clearing House (ACH) payments for rent payments, application fees and related transactions primarily for their extremely low transaction costs and simplicity. With ACH transactions being processed electronically directly from a checking or savings account, property managers eliminate the administrative work involved in processing traditional rent checks. Efficiency is further improved by delivery of NSF notices up to 7 times faster than paper checks and enabling payments to post automatically through integration into accounting and management software programs such as Yardi®, OneSite® and MRI®. Credit cards payment processing is also available, but at a higher fee rate than ACH transactions.
PSN's robust payment engine allows 365 Connect clients to bundle a custom payment solution with the company's leading edge technology platforms. The PSN program offers such customizable features as integrated payment processing, automated owner disbursements and online rent due notices. 365 Connect provides the "place and the space" for residents to transact payments with a customized "Pay Rent" entrance point on its 365 Resident Services Portal, thereby creating a seamless process for residents. Simultaneously, real time reporting and email notifications of payments as they are made brings operations to higher levels of efficiency by making the rent payment collection process less labor intensive.
In today's ever expanding Internet marketplace, 365 Connect continues to deliver innovative solutions to apartment communities across the country. In bringing an economical, easy-to-use online rent payment solution to the multifamily industry, 365 Connect continues to carry out its "Locate, Lease and Live" strategy to support apartment management teams and residents.
Headquartered in New Orleans, Louisiana, 365 Connect was founded in 2003 by a team of multifamily housing professionals with wide-ranging expertise in real estate development, management and technology. 365 Connect provides web-based technology solutions to the multifamily industry, with a focus on resident and management interaction and doing business in the digital world. Today, 365 Connect is rapidly becoming a leader in web-based multifamily technology platforms with an array of products ranging from online leasing centers and interactive resident platforms to www.MultifamilyBiz.com, a leading B2B industry portal. More information on 365 Connect businesses and services is available on the Web at: www.365connect.com
Payment Service Network, Inc (PSN) was created in 1999 and offers an all-encompassing suite of payment processing and bill presentment solutions that provide businesses with the ability to process and manage their payment processing solution through a single-source turnkey platform. PSN not only provides solutions to meet your current needs but also focuses on continued education to help achieve increased efficiencies. Through the years, PSN has developed and implemented a robust platform that combines many of today's latest technologies with secure and easy-to-use payer profiles. Streamlining your accounts receivables, PSN offers you an Account Management Center including reports, real time payment history, and back end software integration. PSN is Payment Card Industry - Data Security Standard (PCI DSS) Level 1 Certified. PCI DSS was developed by the founding payment brands of the PCI Security Standards Council, including Visa Inc., MasterCard Worldwide, Discover Financial Services, American Express, and JCB International. It is a multifaceted security standard that includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures. This comprehensive standard is intended to help organizations proactively protect account data. More information is available at online: www.PaymentServiceNetwork.com
Source: MultifamilyBiz.com