PayNearMe and AppFolio Partner to Provide Integrated Cash Payment Solution to Property Owners

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Leading Web-based Property Management Software Provider and Cash Transaction Network to Offer Convenient Cash Payment Option to Thousands of Property Owners.

PayNearMe, the cash transaction network, and AppFolio, the leading provider of web-based property management software, today announced that AppFolio will integrate PayNearMe into its existing suite of payment options including ACH, credit, debit, and checks. The property owners and managers who use AppFolio will be able to instantly offer tenants in hundreds of thousands of units multiple ways to pay for rent with cash by early 2013. PayNearMe will also dramatically simplify and improve the collections process for property owners by giving them a safe and streamlined means of accepting cash 24 hours a day, seven days a week.

PayNearMe solves the problems that have long inhibited property managers from accepting cash. Property managers will no longer have to worry about dealing with the headaches of accepting and reconciling cash and money orders on-site, while tenants take advantage of anytime access to multiple neighborhood payment locations. Renters will no longer have to purchase money orders and drive across town to take payments to property management offices, which are often only open during regular business hours. Instead, with AppFolio’s PayNearMe-enabled option, tenants can pay with cash at their local 7-Eleven® or ACE Cash Express® stores any hour of the day or night, and funds will be immediately credited to their accounts.
“We have been using PayNearMe and AppFolio separately to accept cash payments and manage our units effectively,” said Albert Dweck of Duke Properties. “This integration is incredibly exciting. Now, we can go to one place to manage all our payments and provide the best possible service to our tenants.”

AppFolio will give property owners the means to take advantage of PayNearMe without requiring changes to existing management systems. Property managers can offer cash payment options through traditional paper billing, online bill pay, and mobile.
“AppFolio has a history of providing the best, most innovative services to property owners and management companies that help them run a more profitable and successful business,” said Brian Donahoo, CEO of AppFolio. “We are proud to announce that we will add cash payments powered by PayNearMe to our extensive suite of services early next year. By integrating with PayNearMe, we will be able to deliver the best possible way for property owners to accept and manage cash.”
Regardless of the billing method, tenants simply take the unique payment barcode or code they receive to any one of more than 8,600 neighborhood 7-Eleven or ACE Cash Express stores to complete their cash transactions at the register. Cash payments take less than 60 seconds, and property managers will immediately see payments posted to tenants’ accounts.

"The acceptance of cash payments has traditionally been a complex proposition, but it doesn’t have to be,” said PayNearMe CEO, Danny Shader. “AppFolio recognized the need for its customers to offer a compelling cash payment solution, and together we are pleased to help property owners overcome the hurdles associated with accepting cash payments, giving millions of tenants the ability to use cash to pay for rent at the places and times that are convenient for them.”

About PayNearMe

PayNearMe is the cash transaction network that enables consumers to pay rent, transfer money, repay loans, buy tickets, make online purchases and much more with cash. Consumers can conveniently make payments 24/7 in their own neighborhood in less than 60 seconds at one of the 8,600 participating 7-Eleven and ACE Cash Express stores across the United States. For more information, please visit http://www.paynearme.com.

About AppFolio

Headquartered in Santa Barbara, AppFolio was started by a team of technology leaders with proven experience creating software that businesses love to use. AppFolio creates complete, easy-to-use, web-based solutions for multiple markets and the first AppFolio SaaS service (AppFolio Property Manager) was specifically created for residential property managers. AppFolio also provides RentApp the first free, online rental application solution and AppFolio SecureDocs, secure virtual data rooms that speed up financial transactions. With original investors including Cisco Systems, BV Capital and the Investment Group of Santa Barbara, AppFolio’s rapid growth is being fueled by very happy and loyal customers. For more information, please visit http://www.AppFolio.com.

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Stephanie Gnibus