Making Rent Payments from Mobile Phones

Through the Cardinal MAX™ technology from CardinalCommerce, the worldwide leader in enabling payment brands for mobile and eCommerce, RentPayment's student housing clients can now receive a monthly alert when their rent is due and trigger a payment via text message on their mobile phones. By linking the residents' mobile phone to their payment accounts, the Cardinal MAX™ platform allows rental payments to be made anytime, anywhere, offering RentPayment's customer base of over three million units revolutionary convenience and payment security.

"CardinalCommerce is thrilled to be working with the largest payment processor in the multifamily property industry," said Tim Sherwin, executive vice president of CardinalCommerce.

Following a successful pilot program at Bowling Green State University, students received a text message alert 10 days before their rent was due and then could reply to trigger a payment via text message. This transmitted monthly rent payments electronically to their landlord. RentPayment's technology platform will now be able to alert residents of rent due dates, as well as receive payments via mobile phone.

By simply responding to an automated text-billing message, a resident can enter a payment amount and complete the rental payment transaction, allowing management staff to also benefit from a reduction in administrative expenses.

"This is a fantastic platform for the student housing market, and we are pleased to be the first company to offer rent payment by text message," said CEO of YapStone, Tom Villante.