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Table of Contents

Lead Story

The payments sphere 2009:
Looking back, looking up

News

Industry Update

Radiant, Computer World in the lawsuit soup

Mobile payments at a crossroads

Tweaking interchange down under

NEAA preview

Features

GS Advisory Board:
The best moves of 2009 - Part II

The payments industry numbers game:
Volume over price

Research Rundown

Selling Prepaid

Prepaid in brief

Mercator of good cheer about gift cards

Unbanked + underbanked Americans top 60 million

Patti Murphy
The Takoma Group

Signs of the future

Views

Reaching the unbanked

Patti Murphy
The Takoma Group

Should you buy stock in a terminal manufacturer?

Brandes Elitch
CrossCheck Inc.

Education

Street SmartsSM:
Time management for 2010

Jon Perry and Vanessa Lang
888QuikRate.com

Fighting the payment squeeze:
Alternatives retailers may consider

Pat Morgan
Total System Services Inc.

Fees you can't ignore

Ken Musante
Moneris Solutions

Managing conflict in the workplace

Vicki M. Daughdrill
Small Business Resources LLC

Defining global processing

Caroline Hometh
Payvision

POS Horoscope 2010

Dale S. Laszig
DSL Direct LLC

Company Profile

Litle & Co.

New Products

Slip-on terminal mobility

PAYware Mobile
VeriFone

Front-end tokenization

SafeDebit
NYCE Payments Network LLC

Inspiration

Be the sale

Departments

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

December 28, 2009  •  Issue 09:12:02

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Forum

Payments for property management

In speaking with credit card acquirers regarding ISO programs, we noticed that some brought up The Green Sheet as an informational resource. We're currently considering all of our options for ISO/MSP to enter the niche market of online processing of rental payments (multifamily property management).

With so many options, alongside the revenue share programs, we're looking for help. Do you have any suggestions of consultants we can speak with to further educate ourselves to make an informed decision?

Sam Levin
Real ID Inc.

Sam,

In considering your request, a member of our Advisory Board came to mind: Matt Golis. As Chief Executive Officer of YapStone Inc. (the parent company of RentPayment), he knows all the ins and outs of the payment processing requirements for the multifamily property management sphere. We asked Matt to provide some insight.

Following is his response:

After 10 years focused in the property management industry, I have found that providing a robust technology solution is critical to differentiating yourself as a processor.

In contrast to other industries where a physical terminal, Internet gateway or other POS solution is sufficient, the multifamily industry demands technology that is superior to its historic method of accepting most payments (check collection at the leasing office or lockbox).

Technology requirements include the following:

ISO/MSPs that are considering the rental property market need to be well versed in these various technologies. Due to the complexities around various property management software packages, the sales cycle can be longer, but the barriers to entry for competition are higher once the client is implemented (similar to other bill payment verticals like government and utilities).

Most multifamily property management software vendors do not use traditional credit card gateways, as clients have traditionally used third-party processors that could provide a better solution.

In summary, a very tech-savvy ISO or merchant level salesperson will see there is opportunity but will also understand the many nuances around the business rules of property management require a significant investment of both time and money.

We hope you find this information beneficial, Sam; please let us know if we can be of further assistance. And, Matt, thank you for taking the time to provide this most educational response.

Editor

Christmas decoration

Thank you, readers

The Green Sheet has been blessed with another full year of intriguing questions and commentary to fill our Forum issue after issue. We hope the information provided herein has been helpful not only to those who have contributed to this page, but also to the many readers who haven't had the time to jot down their thoughts.

While we tend to receive more questions than opinions for this page (and we are delighted to provide answers), we will be happy to receive all respectful, thought-provoking commentary that will help improve the industry and assist ISOs and merchant level salespeople in developing their careers.

So, why not resolve to sound off on this page in 2010? Go ahead, e-mail us at greensheet@greensheet.com or call 800-757-4441.

And may you have a happy, productive new year!

From all of us at The Green Sheet Inc.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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North American Bancard | USAePay | Super G Capital LLC | Humboldt Merchant Services | Impact Paysystems | Electronic Merchant Systems