The solution is made available through the CheckFreePay® walk-in bill payment service from Fiserv, Inc. and enables residents of PayLease’s property management clients to pay their rent with cash at more than 25,000 retail locations across the U.S., including supermarkets, drugstores, convenience stores, and independent and chain store retailers. Cash Pay simplifies the rent collection process for property managers by eliminating manual data entry associated with cash and money order payments. Payment detail is integrated into the manager’s property management software and displayed in the PayLease system in real-time.
The PayLease Cash Pay solution also simplifies rent payments for residents who typically pay with a money order. Residents can pay with cash while out running errands or from the retailer with business hours that suit their schedule. Because of the electronic transmission of the funds, residents will not have to make a trip back to their management company – typically only open during business hours- to deliver their payment. Additionally, Cash Pay may save some residents money by not having to purchase multiple money orders to cover their entire rent payment.
With the launch of Cash Pay, PayLease now offers its clients the ability to accept and convert all payment types into electronic transactions. PayLease clients can already accept credit/ debit cards and ACH payments online and can also convert paper checks into electronic transactions.
Ben Truehart, Vice President of Marketing and Product Management, commented on PayLease’s latest release. "We are excited to add Cash Pay to our services and are confident this solution is the best possible way for property managers to allow residents to pay with cash. It eliminates the traditional hurdles associated with collecting cash or money orders, and gives renters more convenient payment options."
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