Clearwater, Fla.—RentPaidOnline®, a multifamily housing rent payment provider, announced that the company has expanded its online platform to include cash payment capability through a partnership with PayNearMe, the electronic cash transaction network. This new service makes it remarkably simple for property management companies that use RentPaidOnline to accept cash payments from their residents. These residents can now quickly and securely pay their rent with cash at almost 10,000 7-Eleven® and ACE Cash Express® stores nationwide and have their account credited immediately.
To initiate a cash payment, renters simply go to RentPaidOnline.com and generate a printed or mobile PayNearMe PaySlip that includes a PayNearMe barcode and payment instructions. Alternatively, property managers can email or text PaySlips to their tenants. To complete the payment, tenants bring their PaySlip to any 7-Eleven or ACE Cash Express location where the cashier scans the barcode, accepts the payment and issues a receipt confirming that the funds have been credited to the renter’s account. Through RentPaidOnline, PayNearMe immediately notifies the property manager’s system of the payment and deposits 100 percent guaranteed good funds into the property manager’s account via ACH.
With this new efficient payment option, property managers who use the RentPaidOnline software platform no longer need to worry about the numerous risks of handling cash onsite. They also no longer have to deal with the operational complexities of manually reconciling cash and money-order payments because PayNearMe is fully integrated into the RentPaidOnline accounting and payment management systems.