ClickPay Announces Acquisition of RE Lockbox Services

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Acquisition Expands ClickPay's Suite of Innovative Payment Solutions for Property Management Companies

ClickPay
Our ability to accept, process, decision, and post these paper checks in combination with electronic payments distinguishes ClickPay from any other solution in the marketplace and meets the needs of property managers ...

ClickPay, the fastest growing provider of SaaS-based payment and billing solutions for the property management industry, today announced its acquisition of RE Lockbox Services, a business that has been serving real estate clients for over 30 years. This business union will further support ClickPay’s commitment to simplify and consolidate all payment methods into a single comprehensive solution for property managers. The acquisition helps expand the company’s staff and resources to support the fast-paced growth while keeping its core focus on customer service, product innovation, and technical support.

After the announcement, ClickPay's CEO, Tom Kiernan, remarked, “Our DNA is electronic payment and automation, but our customers know that a very significant percentage of tenants still pay by paper check. Our ability to accept, process, decision, and post these paper checks in combination with electronic payments distinguishes ClickPay from any other solution in the marketplace and meets the needs of property managers looking to be more efficient in the way they handle their receivables.”

Jim Woods, former Managing Director of RE will now lead ClickPay’s lockbox division as Vice President, Lockbox and Remote Deposit Services. Jim stated “Our teams have always shared the same deep service commitment to our customers which is what made this joining of forces so successful right from the beginning. The team and I are excited to officially join ClickPay to support and fuel the incredibly rapid growth we have both experienced.”

ClickPay’s President, Steven Van Praagh, stated “The two teams had a large portion of resources shared across many areas of the operation already, making the transition simple. Our customers continue to demand tight integration of data and reporting, processes and procedures, and customer service so it was time for us to constitute a change that benefitted our clients as well as both organizations. A win, win, win in the classical sense.”

ClickPay has built a robust, reliable and highly scalable solution to address high volume requirements of property owners and managers and support the future growth of the business. The ClickPay solution creates operational efficiency and reduction in costs for property managers by simplifying and consolidating all payment methods into a single comprehensive solution. These payment methods include online ACH, credit card, online bill payments, and paper checks.

About ClickPay, a Division of NovelPay, LLC
As the leading provider of innovative billing and payment solutions for the multi-family and commercial real estate industry, ClickPay offers fully integrated billing, payment processing and software services to accelerate the financial performance of its customers by reducing operating costs, creating operational efficiencies, and boosting resident satisfaction. These services provide property owners and managers with a customizable, electronic solution to bill and collect from their residents including online payments, lockbox, on-site check scanning, paper statements and e-billing. ClickPay accepts all payment methods including e-check (ACH), paper check, debit and credit card, and American Express. Utilizing years of collective experience in the real estate, electronic payment, and technology sectors, ClickPay has developed a comprehensive suite of services focused on real estate technology and financial performance.

About RE Lockbox Services
Since 1976, RE has been providing lockbox services for Property Managers and Homeowners Associations. RE processes paper check payments utilizing a proprietary process and technology designed to handle the complex processing rules of the real estate industry. RE dramatically increases the efficiency and cost effectiveness of processing payments by minimizing exception handling and returns. Jim Woods is a second-generation operator of the business and brings decades of experience to the ClickPay.

For more information about ClickPay, visit http://www.clickpay.com.

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