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Texas Apartment Association Teams with PropertyBridge to Launch Exclusive Electronic Payments Program for Small and Medium Sized Businesses

Property Management Firms with Fewer than 1,000 Units Can Now Access Highly Competitive Rates and Special Resources to Help Offer Automated Payments to Residents

OAKLAND, CA - December 19, 2007 - PropertyBridge, Inc., a MoneyGram company, and the leading provider of electronic payment services to the residential real estate management industry, has announced a new program in conjunction with the Texas Apartment Association (TAA). The program provides the TAA’s small and medium sized business members with a suite of customized resources and financial benefits that make it easy to implement comprehensive resident-focused payment solutions. PropertyBridge is the TAA’s exclusive electronic payments service provider.

The PropertyBridge SMB Program for TAA members represents the first payments-focused initiative of its type to blend competitive processing fees with tailored implementation services. Previously, it has been difficult for small and medium sized property management firms to access the same competitive rates and technology as larger firms with more than 20,000 units under management. The PropertyBridge SMB Program for TAA members directly addresses this disparity while also presenting TAA’s members with an accelerated timeline for launching automated payments such as payment cards (credit and debit), automated clearing house (ACH) and e-checks.

According to George B. Allen, CAE, Executive Vice President of TAA, “We have worked closely with PropertyBridge to offer their deep resources throughout our membership. We are delighted that ALL our members can now take advantage of this best-of-breed payments solution.”

Added Jason Gardner, Vice President of Business Development, PropertyBridge , “Being backed by the country’s largest state multifamily industry trade association is a tremendous validation of our solution. Rather than rest on our laurels however, our team has focused on extending the benefits we offer to a broader audience of owners and property management firms.”

About the Texas Apartment Association, Inc.

The Texas Apartment Association, Inc. (www.taa.org) is a non-profit statewide trade association dedicated to unifying rental housing professionals through education, legislative advocacy and member services. TAA is the largest statewide apartment association in the United States, with 25 affiliated local associations in Texas and more than 10,000 members representing more than 1.6 million units. TAA is affiliated with the National Apartment Association and local associations in 25 Texas cities. Members join TAA and NAA by joining the local affiliate in their area.

About PropertyBridge, Inc.

PropertyBridge (www.propertybridge.com), a MoneyGram Company, 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 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.

Contacts

Peter Mansfield
Vice President of Marketing
pmansfield@propertybridge.com