Rents may be paid via touch tone phone

Customers in the US can now easily pay their rents with the touch of a few buttons. RentPayment, a division of YapStone Inc., the country’s largest payment processor for the multi-family property market introduced this month its newest feature, Pay by Phone for residents.

The service based on Fonality and the RentPayment Integrated Payment Platform is available 24/7, can be used with any touch tone phone and requires no Internet access. The security of the transactions is ensured through unique user IDs and PIN numbers given to each resident.

The system benefits both residents and property managers allowing the first to avoid late fees and the latter can reduce the time and expense associated with traditional means of payment.

Being an industry leader in revolutionary online payment processing RentPayment handles $2.5 billion in payments yearly for over 1,000 property management companies.