MRI Software Partners with YapStone’s RentPayment™ to Expand Online Tenant Payments

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MRI commercial clients can now accept online credit and debit card payments through MRI Tenant Connect using RentPayment's ePayment.

Continuing its efforts to help their clients better connect with and serve their commercial tenants, MRI Software is happy to announce a new strategic partnership with RentPayment, a leading provider of electronic payment solutions to the property management industry. This relationship will utilize RentPayment’s robust online credit and debit card payment processing engine through MRI’s newly launched commercial tenant portal, MRI Tenant Connect. MRI Tenant Connect provides an Internet-based portal that empowers tenants to manage their accounts online by downloading statements, entering sales data, and making secure online payments.

“We are excited to have RentPayment power the online payment component for Tenant Connect,” said David Post, CEO of MRI Software. “Commercial clients will now be able to increase efficiencies through a streamlined payment process using RentPayment’s credit and debit card services online.”

MRI Software’s integration with RentPayment’s payment processing engine provides several key benefits to MRI’s commercial Tenant Connect clients:

•Reduced operational costs / process automation – MRI Tenant Connect automates the rent collection process so clients can focus on more important activities instead of the time-consuming and labor-intensive process of collecting manual rent payments.

•Improved fund availability – Electronic credit and debit card payments through MRI’s Tenant Connect make funds available almost immediately, rather than the traditional five to seven days it can take to receive a paper check in the mail, manually post the transaction to the general ledger, and deposit the check at the bank.

•Increased tenant satisfaction / reduced delinquencies – With MRI Tenant Connect, online rent payments are available 24/7 via the portal, offering greater flexibility to help keep tenants happy and increase retention. In addition, offering the option of card payments can help reduce delinquencies because tenants can better budget their expenses according to their monthly cash flow, and also have the option to “set it and forget it” with recurring payments.

“As the leading provider of ePayment solutions for property managers, our service enables tenants to pay their rent online conveniently within the MRI Tenant Connect commercial portal,” added Tom Villante, Chairman at YapStone. “Credit and debit card payments have rapidly become the preferred method of choice for making payments, and checkbooks are becoming a thing of the past. Our ePayment service integration will give tenants the convenience of paying rent online 24 hours a day, while also increasing the payment methods available to them including credit and debit cards.”

To learn more about how MRI’s Tenant Connect can increase efficiencies through real-time account management and the capabilities enabled through RentPayment’s online payment engine, visit http://www.mrisoftware.com/tenant-connect.

About MRI Software

MRI offers business management software solutions to the global property management and investment industries. As a leading provider of real estate enterprise software applications and hosted solutions, MRI serves the global multifamily and commercial property industries, helping them improve their bottom line and maximize their returns on their diverse business portfolios. MRI leverages its more than 40 years in business to develop long-term successful relationships with its clients. For more information, please visit http://www.mrisoftware.com.

About RentPayment
RentPayment is a division of YapStone, the leading global provider of web and mobile payment solutions and processing for targeted vertical markets such as property management (rentpayment.com), vacation rentals (vacationrentpayment.com), homeowner associations (duespayment.com), bed and breakfasts (innpayment.com), and non-profit (parishpay.com) as well as several new bill payment markets. Established in 1999, YapStone's payment service processes billions of dollars annually, with an on-demand platform that offers web-based and mobile payment processing and integration to its clients’ accounting systems and websites. YapStone's technology includes a unified, real-time reporting platform, credit/debit card, electronic check processing, check conversion and cash payments. YapStone has been recognized in Inc. 5000 Fastest Growing Private Companies for the last 5 years. In 2011, Accel Partners and Meritech Capital Partners made a $50 million minority investment in YapStone.

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Tim Mauk
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