Western Union and Neighborhood Pay Services Announce Agreement to Provide Prepaid Card trogram To Multifamily Property

Boston—Neighborhood Pay Services, LLC (NPS), innovators in Rent Assurance for the $300 billion Multifamily Housing industry, announced an agreement with The Western Union Company, a leader in global payment services, to offer Western Union Prepaid MasterCard products to renters across the United States.

Starting in the second quarter of 2012, NPS will offer the Western Union® MoneyWise Prepaid MasterCard® through the NPS Rent Assurance™ payment platform, a management solution that enables property clients to effectively expand credit acceptance terms to the millions of working Americans who apply for apartment rentals.

In addition to providing renters with improved access to professionally managed apartment housing, this agreement aligns with the NPS mission to provide consumers with the opportunity for improved financial independence.  The NPS Rent Assurance™ program is available exclusively through apartment leasing offices and rent payments are reported for each enrolled resident to a national credit bureau.

Neighborhood Pay Services offers the only program in the multifamily housing industry that enables property clients to accept prospective residents based on their willingness to put safeguards in place for reliable rent payment as a condition of lease signing.

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