RentPayment, a San Francisco division of YapStone Inc. that processes electronic payments for multifamily landlords, said it has renewed its agreement with Visa Inc.
The deal lets tenants pay their rent or security deposit with Visa-branded cards at no extra fee.
"The economic and operational benefits of card acceptance can help curb operating expenses for property managers," Matt Golis, RentPayment's chief executive, said in a press release. "In enabling property managers to accept Visa products, we are better positioned to help them deliver more payment choices and greater convenience to their residents."
RentPayment, whose property managers operate more than 2.5 million apartment units, said the continuation of the service gives tenants convenience and managers efficiency. Accepting card payments, for example, reduces administrative expenses for software integration and increases the apartments' marketability, the company said.
