TOPS Software has launched a new online payment solution called TOPS Pay for community association management firms to process recurring ACH debit payments.
The new TOPS Pay solution is built in to the TOPS [ONE], a web-based accounting and management platform.
TOPS created the free-to-use solution to address the risk of personal data exposure that is associated with the details of recurring ACH payments being transmitted over unsecured channels.
TOPS Pay is said to offer high security during recurring ACH payments processing, in turn protecting the homeowner’s personally identifiable information (PII).
TOPS Software said: “Approximately 25% of all community association payments are made through recurring ACH, but that payment information is unsafe when transmitted over unsecured channels and leave homeowners’ personal data exposed.
“This risk compelled TOPS to create TOPS Pay, a new payment solution with a higher level of security when processing recurring ACH payments, that automatically protects the homeowner’s PII at no additional cost to the management company, or the homeowner.”
Management professionals will be able to directly process electronic payments made via TOPS Pay in TOPS [ONE], while homeowners can carry out the processing in TOPS [ONE]’s online Owner Portal.
Homeowners get full control for their account, irrespective of the setup, and can deactivate or update account information at any time.