NEWS RELEASE
| PropertyBridge Announces Payment Data Integration With Yardi Systems |  |
Multifamily Industry Firms Eliminate Labor Intensive Administrative Tasks, and Gain Control Over Key Financial Data
Oakland, CA, August 19, 2008 -- PropertyBridge, Inc., a MoneyGram company, has announced that its payments platform is fully integrated with Yardi Systems for the purposes of integrating its electronic payment services with Yardi’s property management system . PropertyBridge is the first electronic payments provider to integrate with Yardi using the MITS (Multifamily Information and Transactions Standards) Residential Transactions 2.0 Standard, as part of Yardi’s MITS-based Standard Interfaces Program.
By merging data between management and accounting systems and the PropertyBridge Payments Platform, property management firms streamline core administrative practices, and significantly reduce the time required to process resident payments. The full integration makes it possible for property managers to manage resident payment data seamlessly from the moment a resident pays through to when the revenue is recorded and reconciled.
In addition, corporate and community teams within multifamily industry firms gain visibility into all aspects of a resident’s payment history, the ability to better manage risk, and control over all facets of their financial interactions with tenants. As an example, community managers can assign resident status levels including: all payment methods accepted; cash equivalent method required (due to previous issues with non-sufficient funds); through to all payments prohibited (for residents in an eviction process).
The latest version of the PropertyBridge Payments Platform also includes full integration of the multifamily industry’s fully executed and secure cash offering, MoneyGram ExpressPayment®.
“The definition of ‘integration’ when applied to multifamily industry payments has become fuzzy. Full integration, as offered by PropertyBridge, means synchronizing all levels of data so that it flows with as little labor required as possible,” stated Todd Marshburn, director of client services at PropertyBridge. “Integration is a key differentiator for PropertyBridge. Our continued success with the largest multifamily firms is based on how we turn payments data into a strategic asset that can be tracked and managed throughout an organization.”
Added Jeffrey Callan, Chief Information Officer of Morgan Properties, “The integration of PropertyBridge with our existing management software brings us a host of productivity gains throughout our organization. We also get much greater visibility into how money is moving down the chain from resident to merchant account.”
As the first enterprise-strength payments solution built exclusively for residential real estate, PropertyBridge works closely with each client to develop a customized program to fit their business goals and objectives. Through PropertyBridge, owners and managers select payment types that match the demographics and preferences of their residents at each community. By combining PropertyBridge with existing accounting systems and business processes, property managers alleviate the pressure placed on community teams that have previously had to manually process and deposit paper checks.
About Yardi Systems, Inc.
Yardi Systems is the global leader in the design, development, and support of integrated asset and property management software for organizations of all sizes. For more than 25 years, Yardi’s technology and services have led the industry through responsiveness and innovation, becoming the premier application for real estate software solutions worldwide. Yardi’s software is client-driven and serves more than 15,000 businesses, corporations, and government agencies, representing more than 5 billion square feet of commercial space and 5 million residential units globally. Headquartered in Santa Barbara, Calif., Yardi Systems has offices throughout the United States, Canada, Europe, Asia, and Australia. More information about Yardi products and services may be found by visiting www.yardi.com.
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) and cash payments at more than 40,000 MoneyGram agent locations. 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
Summer Palma
Marketing Manager
(510) 463-3033
spalma@moneygram.com
