San Francisco, CA, February 14, 2008 --(PR.com
)-- Property management and real estate companies that utilize YapStone’s processing platform (including RentPayment) will be eligible for MasterCard’s new lower rate for payment processing of rent and rent-related fees beginning in April 2008. YapStone has over 1,000 property management clients, representing over 3 million units who can now cost-effectively accept MasterCard from their renters. Until now, card usage has been limited in the real estate market primarily because of high perceived costs from property managers or renters.
With MasterCard recognizing the untapped opportunity for card acceptance in the real estate market, YapStone’s robust technology platform, niche property solution and national client base are the competitive advantages over other payment processors. “Since 1999, YapStone has been committed to electronic payments for the real estate industry, and MasterCard’s new processing rate will significantly accelerate new client adoption for our processing platform”, says CEO of YapStone, Matt Golis.
YapStone has also expanded into other niche markets in the past few years, with technology that can be applied to other emerging markets seeking scale and automation in electronic payment processing.
YapStone, Inc., through its RentPayment™ division, is the largest electronic payments processor focused primarily in the property management industry. YapStone provides merchant processing and ACH services to over 1,000 property management companies, representing over 3 million units. YapStone’s technology includes a unified real-time Web-based platform for check scanning, credit card processing, and electronic check processing to the property management industry. YapStone’s headquarters are located in the heart of the Financial District in San Francisco, California. YapStone has additional offices in Orem (UT), Santa Monica (CA) and Santa Barbara (CA).
Thomas J. Villante