Despite the fact that payments have evolved a long way from cash and personal checks, there are still some sectors where paying with cards or digital wallets seems taboo. One of these is the housing rental market, where personal checks remain the most popular form of payment. The December edition of PYMNTS.com’s Developer TrackerTM, powered by Vantiv, takes a closer look at how industry disruptor PayLease is revolutionizing the way that rent is paid.
Typically, the biggest drawback to non-electronic rental payments is the slower processing that accompanies them. For large rental properties, this process becomes even more cumbersome as payments need to be assigned to residents and reconciled accurately.
December’s Developer Tracker uncovers how PayLease is supporting a wide variety of payment types (credit/debit cards, ACH payments, paper checks, and cash) to help streamline the acceptance and processing of rental payments.
In addition to the interview with PayLease, the Developer Tracker also shows how:
- Universal payment card companies (that offer a single card-like device with the account data of multiple plastic cards) are developing solutions that appeal to customers who are tired of carrying wallets full of plastic
- Video game consoles are being used as new platforms for virtual wardrobe technology that allows customers to “try on” clothing and instantly purchase it through apps
- EMV certification continues to gain momentum via POS payment app integrations
The full conversation is available in this month’s Developer Tracker. Ask us for a copy or grab it over at PYMNTS.com.