By Anuradha Kher, Online News EditorSan Francisco–Till recently, credit card usage has been limited in the multifamily market primarily because of perceived high costs to either property managers or renters. But with MasterCard’s new lower rates for payment processing of rent and rent-related fees, companies like YapStone, an electronic payments processor, could see a rise in number of clients.Beginning April 2008, property management and real estate companies that utilize YapStone’s processing platform, including RentPayment, will be eligible for MasterCard’s new processing rate.“Since 1999, YapStone has been committed to electronic payments for the real estate industry, and MasterCard’s new processing rate will significantly accelerate new client adoption for our processing platform”, says CEO of YapStone, Matt Golis.YapStone has also expanded into other niche markets in the past few years, with technology that can be applied to emerging markets seeking scale and automation in electronic payment processing. YapStone’s technology includes a unified real-time Web-based platform for check scanning, credit card processing and electronic check processing to the property management industry.
YapStone Clients to be Eligible for MasterCard’s New Payment Processing Rate
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