San Francisco, CA (PRWEB) April 5, 2010
RentPayment, a subsidiary of Yapstone, Inc. and a leading provider of electronic rent payment services, announced today that it has completed its SAS 70 (Statement on Auditing Standards No. 70: Service Organizations) Type II annual audit. This certification establishes the superior level of security and commitment RentPayment delivers to its customers, ensuring the highest quality of service.
SAS 70 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). The successful SAS 70 audit represents that RentPayment has developed control objectives for the significant areas of internal control that support the company’s payment processing and payment gateway services. The control objectives in the 2010 report addressed the following areas:
Application Change Control
Client Setup & Maintenance
Payment Processing & Gateways
"The vast amount of transactions RentPayment processes mandates a rigorous system of procedures and controls to uphold the premium level of security and service we offer to our customers," said Matt Golis, CEO of RentPayment.
SAS 70 Solutions, a licensed CPA firm, performed the audit and testing of RentPayment's internal controls including Control Environment, Risk Assessment, Control Activities, Information/Communication and Monitoring, all of which RentPayment passed impressively.
RentPayment is the largest electronic payment processor in the multifamily housing industry, serving 30 of the Top 50 NMHC members as well as thousands of property management companies across all 50 states. RentPayment provides best-of-breed credit and debit card processing, ACH and check scanning services through their integrated payment platform. Key differentiators of the RentPayment solution include the RentByText payment option, exceptional customer service and PCI compliance certification. Founded in 1999, San Francisco-based RentPayment processes billions of dollars in annual transaction volume and currently operates five offices in the United States.
505 Sansome Street, 8th Floor
San Francisco, CA 94111