news RELEASE

PropertyBridge Releases New Version of its Payments Platform

Extensive New Feature List Provides Property Managers with an Unparalleled Array of Tools to Improve Efficiency and Convenience (Increase Adoption through Ease of Use)

Oakland, CA - May 15, 2008 - PropertyBridge, Inc., a MoneyGram company, and the leading provider of electronic payment services to the residential real estate management industry, has released a new version of its award-winning Payments Platform.

The latest release extends the core attributes that have driven wide scale adoption of the PropertyBridge Payments Platform as the de facto multifamily industry standard. Focused on property manager and resident convenience, new features add interface and reporting enhancements that make the PropertyBridge Payments Platform easier to use throughout multifamily industry organizations.

“Well-executed product releases answer two strategic requirements. First, to move the product forward in terms of usability and depth. Second, to encompass the feedback and suggestions received from customers. This release wholeheartedly achieves its goals in both areas,” said Leslie Olsen, director of product management at PropertyBridge. “We are confident that this release sets a new standard of excellence in payments for the multifamily industry.”

Melissa Levesque Smith, Senior Vice President of Internal Operations at Fogelman Management Group, has taken advantage of the PropertyBridge Payments Platform’s new features to communicate with residents at the 18,000 unit firm. “We will only embrace innovation if it is thoroughly tested, simple to implement, and well-aligned with our existing business processes. This has been the case with the latest PropertyBridge release. As an example, our recent internal contest to drive usage of recurring payments was supported with new personalized announcements on the PropertyBridge application ‘home’ pages for both our residents and community managers. This made it easy to raise awareness with all key parties involved.”

This product release improves several major elements of the PropertyBridge Payments Platform. This includes line item detail for the outstanding balance, ability to save payment account information, scheduled reporting functions, customizable home page announcements, check scanning batch histories, and recurring payment reminders through email.

As the first enterprise-strength payments solution built exclusively for residential real estate, PropertyBridge has emerged as the solution of choice for multifamily organizations looking to leverage payments from a strategic perspective. PropertyBridge works closely with each client to develop a customized program to fit their business goals and objectives. This includes cost-analysis tools to evaluate current processing costs, customized marketing materials and promotional programs to launch and maintain the program, and ongoing adoption benchmarking and reporting tools.

Through PropertyBridge, owners and managers select payment types that match the demographics and preferences of their residents at each community. By integrating PropertyBridge with existing accounting systems and business processes, property managers streamline operations and alleviate the pressure placed on community teams that have previously had to manually process and deposit paper checks.

About PropertyBridge, Inc.

PropertyBridge, a MoneyGram Company, is the leading electronic payments processor for property managers and real estate owners in the multifamily housing 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 MoneyGram agent 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. MoneyGram, Inc. acquired PropertyBridge in October 2007.

Contact

Peter Mansfield
Vice President of Marketing
pmansfield@propertybridge.com