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news release
PropertyBridge Launches Comprehensive Check Scanning Solution
Oakland, CA – September 19, 2006 - PropertyBridge, Inc., the leading payment services provider in the multifamily housing industry, today announced the release of an upgraded check scanning solution as a core component of their electronic payments solution. The scanning solution has been successfully deployed at three PropertyBridge clients, representing over 10,000 multifamily residential units.
“The electronification of all paper payment items is central to our goal of offering a broad range of electronic payment options that fit our property management clients’ operational needs and their residents’ lifestyles” said Ryan Gilbert, CEO of PropertyBridge, Inc. “We invite our customers to escape from the drudgery of making daily trips to the bank and convert all checks and money orders to electronic payments.”
Property managers utilizing PropertyBridge’s proprietary electronic payments system are able to convert traditional paper forms of payment, including checks and money orders, into secure electronic data through a scan of the physical payment. Intelligent software determines appropriate handling of the Automated Clearing House (ACH) or Check 21 transaction. Managers can also use the scanning equipment to expedite the processing of payments received from vendors for amenities such as laundry and vending. This eliminates the need to make trips to the local bank to make deposits.
Check scanning through PropertyBridge allows for the full range of electronic payment benefits to be applied by property managers, including online tracking and reporting of payments, accelerated availability of funds, greater convenience and enhanced security. Unlike many other check scanning solutions on the market today, the PropertyBridge Payments Platform™ is integrated with leading accounting software packages, reducing data entry and providing more efficient reconciliation and reporting. In addition to check scanning, the Platform is designed to accept a full range of electronic payment types, including credit and debit cards and automated withdrawals from bank accounts.
About PropertyBridge, Inc.
PropertyBridge is the leading electronic payments processor for property managers and real estate owners in the multifamily industry. The PropertyBridge Payments Platform™ enables residents to pay rent and other lease-related transactions using multiple payment types, including credit and debit cards, Automated Clearing House (ACH), check scanning (Check 21/ARC), cash payments at retail locations, online bank bill payment, and lockbox services. PropertyBridge's rent payment solutions are fully integrated with the accounting systems and business processes of property management firms. Residents can pay rent online, by phone or in person and set up recurring payments. The company collaborates extensively with financial services leaders including Visa USA, MasterCard, Discover Financial Services, American Express, Wells Fargo Bank and First National Bank of Omaha.
Contacts
Peter Mansfield
Vice President of Marketing
pmansfield@propertybridge.com
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