We’re excited to introduce Yardi Payment Processing. This new technology enables easy set-ups of direct debits and other payment types by applicants and residents and streamlines reconciliations for leasing teams with payment transaction dashboards.
Residents can now pay rent balances or amenity costs by independently setting-up direct debits, standing orders or a choice of multiple credit cards that they can save for future payments. Payment preferences can be set at the point of application, or, if it’s an existing resident, they can do this through the RentCafe or MyCafé App. As a third choice, they can use the RentCafe Resident Portal. Yardi Payment Processing is coming to CommercialCafe tenant portal in quarter 2, 2021.
Yardi Payment Processing eliminates the need to set up direct debit forms manually, subsequently saving time, minimising the risk of incorrect data entry and manual cross checks to verify bank accounts. Yardi Payment Processing works in conjunction with a Stripe or Worldpay merchant account by linking directly out to Stripe or Worldpay account, and then automatically input the information into Yardi Voyager.
Leasing and finance teams can now more easily reconcile payments and can control the risk of late payments to improve debtor days and streamline cash collection.
The process is fully PCI compliant and has the highest level of security, giving our clients and their residents peace of mind when sharing banking details.