Yardi, a developer of investment and property management software for real estate companies, has partnered with payment processing solutions provider BluePay to enable rental property managers in Canada to receive electronic rent payments.
AS per the agreement, BluePay will work with Yardi Voyager and RENTCafé to process credit card, debit card and PAD payments made by residents of multifamily and condominium units, as well as commercial property tenants.
BluePay will process payments and post deposits to property managers’ bank accounts ‘invisibly,’ and landlords will receive the funds within hours.
BluePay Canada president Marcus Dagenais said: “As renters and property managers increasingly favor electronic payments over paper cheques, BluePay and Yardi are poised to serve a market that could total $30 billion. Having BluePay’s integrated payment solution directly within Yardi’s software platform is a key differentiator for this market, and will pave the way for increased revenues and a growing client base.”
Peter Altobelli, vice president of sales and general manager for Yardi Canada, said: “This collaboration joins Yardi’s property management solutions with BluePay’s experience in processing billions of dollars of transactions annually for thousands of organizations. Working together represents a giant step toward making electronic payments the secure, efficient rent payment method of choice in Canada.”