Hundreds of homes have implemented this payment system, making it easy for residents’ friends and family to pay you from any web-enabled device anywhere, anytime of the day or night. In fact, over a third of all payments processed through the RRPS are authorized outside business hours. RRPS supports resident funds management for those who offer this service. Additionally; RRPS makes it really easy to send a payment-enabled email, detailing the items required for enrollment in your program. Some homes have chosen to use convenience fees to cut their costs in half and others have elected to pass through 100% of the costs. It’s entirely up to you. In either case, our successful approach to convenience fees makes RRPS less costly than any other solution. By providing payers the opportunity to transact when and how it’s most convenient for them, you accelerate cash flow, improve work flow and reduce cost.
Tenants, both residential and commercial, often have a need to manage cash flow by tapping into existing credit lines to honor commitments in a timely manner. Due to the high value of rent transactions and the corresponding costs associated with card acceptance, many property managers have shied away from offering tenants the opportunity to pay by credit card. Our convenience fee option is designed to resolve this dilemma. Property managers, apartment complex owners and home owners associations can now get paid online and pass through as much of the cost for that service as they choose. Tenants benefit from having an alternative method to pay on time, avoiding late fees and the negative impact to their credit histories. Our system introduces convenience fees in ways that effectively minimize resistance and provide the payers with true value & convenience.
Cashbox first introduced this system to SAMH Clinical Service Providers because this group presented an early marketing opportunity. We soon discovered that, with certain modifications, the system was equally suited for law firms, certified public accountants, therapists, real estate brokerage firms, and many other professionals who invoice their clientele for services. Among many unique features, the PSPS supports a secondary merchant account for payments made “in Trust”. In addition to scheduled recurring transactions (card-on-file), PSPS also supports scheduling recurring payment requests (payment-enabled emails) that remind your client that payment is due and allows them to complete authorization from any device, including their smartphone, in under ten seconds. PSPS enhances efficiency, improves cash flow and reduces cost.
Non-Profits & Membership Organizations
Non-Profits and Membership Organizations share this system. From a payment system design perspective, many of their needs are similar in nature. This system supports both a fixed, mandatory conveneince fee, tied to specific products and services, as well as an optional, voluntary convenience fee tied to donations and event sponsorship opportunities. Scheduled Giving is also supported through the inclusion on your web payment portal of a “recurring item” that automatically authorizes future transactions on a scheduled cycle. We’ve included scheduling to our payment enabled email requests, providing for automatic reminder of dues and other member commitments. Less costly than popular alternatives, this payment system helps non-profits and membership organizations to take control of receivables in ways they have never experienced before. Cashbox offers special pricing considerations to all bona fide non-profit organizations.