ENCOURAGING RESIDENTS TO SWITCH TO ELECTRONIC PAYMENTS IS CRITICAL IN THE TIME OF COVID-19

April 27, 2020 — COVID-19’s greatest continuity challenge for payments is the handling and processing of paper checks. Whether residents drop checks at on-site offices or mail checks to lockboxes for processing, multiple systems and people are needed to physically handle the paper payments – some or all of which could be delayed with COVID-19 due to client responses and government requirements.

Clients are adapting their businesses to protect their staff while maintaining operations. Normally, residents drop rent and utility checks in the property drop box or with staff at the site office. Site managers – and leasing agents processing application fees and holding deposits – often spend many days per month focused solely on manually processing payments. COVID-19’s shelter-in-place orders may require site staff to work from home, where they do not have access to check-scanning hardware and systems to complete the processing of rent payment checks to the bank.

Similarly, checks processed at lockbox facilities could also be at risk for delayed payment processing. All lockboxes rely on U.S. Postal systems, couriers, and people working inside a secure processing center. Checks are extracted and scanned using very advanced, large equipment. However, in the worst-case scenarios, U.S. Postal Offices could shut down a processing center to protect workers or a legal mandate could close all lockboxes. Even if not closed, lower density requirements could result in a reduction of check processing throughput and affect the flow of funds.

Electronic payments are more critical now than ever to ensure the continuity of cash flow. ClickPay enables safe, contactless remote payment options—like ACH, credit & debit card, and bank bill pay, which are received quicker, reducing the potential for late fees. Our bilingual resident call center is available 24/7 to help any resident who may need extra support making their first online rent payment. In addition, ClickPay’s real estate-specific lockbox migrates all resident payments out of the office and into our check scanning facilities. By removing all checks from on-site processing, property managers eliminate any potential risk of fraud.

Best practices from Property Managers who successfully drove electronic adoption include:

  1. Require residents to pay electronically (i.e., do not allow checks to be dropped off at offices)
  2. Communicate continually through various channels, including email, flyers, and posters
  3. Provide community welcome packages that include online payment and Resident eMoney Order instructions that can be used at move-in and recertification
  4. Text message reminders to sign up for online payments
  5. Remove drop boxes from the property
  6. Help residents who drop off or mail in checks to setup online recurring payments
  7. Fee absorption or crediting after the fact
  8. Temporarily removing fees associated with late payments
  9. Leverage on-site human resources to guide residents through ClickPay (specifically, Invitation Wizard)
  10. Utilize fee collection pages for the one-off payments that typically come through
  11. Take the opportunity to collect emails from residents in a time where digital communication is key

 

The tactics listed above have helped many ClickPay clients achieve above industry average payment collections, even in areas affected the most by COVID-19, such as New York City and Florida. Roscoe Property Management, Texas’ third largest PMC and ClickPay client, reported that 95% of its 38,000 apartments under management made online payments through ClickPay by mid-April. By providing their renters with the option to pay online and waiving all late fees and credit card transaction fees, Roscoe exceeded the industry average reported for April rent collection. Please contact your account manager to discuss which best practices can improve your electronic adoption and help you achieve full rent payment collection.

About ClickPay

The complete platform for automating 100% of real estate payments.
As the industry-leading platform for automating real estate receivables, ClickPay accepts all payment methods, including paper checks, e-checks (ACH), cash, and credit & debit cards. ClickPay delivers integrated print and e-bill presentment and payment services to increase operational efficiencies and enable profitable growth. Shaping the future of real estate billing and payments with innovative products and services, ClickPay provides property management companies with customizable solutions to connect with their tenants, residents, and homeowners. To learn more, go to www.clickpay.com.

REALPAGE TO ACQUIRE CLICKPAY SIGNIFICANTLY EXPANDS REALPAGE PAYMENTS PLATFORM

RICHARDSON, Texas, (April 20, 2018) – RealPage, Inc. (NASDAQ: RP), a leading provider of software and data analytics to the real estate industry, today announced its agreement to acquire ClickPay, a comprehensive electronic payment platform servicing 2.3 million units across the multifamily, HOA, condominium and co-op segments of real estate. ClickPay significantly expands RealPage’s footprint into the HOA owner-occupied segment of real estate, broadens the company’s presence in the New York metropolitan market and solidifies the integration of its front-end leasing platform into third-party property management systems.

Highlights

Adds nearly $1.0 billion to the company’s total addressable market. The HOA market is estimated to contain over 16 million units, and RealPage estimates that current and future solutions applicable to the market aggregate to a total opportunity of approximately $60 per unit per year. Including the HOA market, the holistic RealPage platform is expected to serve multiple segments of real estate, from rentals to owner-occupied units, totaling over 62 million units. Total current and future applicable solutions for those units represent nearly $205 per unit per year, for a total addressable market of over $12.7 billion.

Strengthens the company’s consumer-centric, front-end leasing platform. ClickPay, in concert with the recent acquisition of On-Site, combines functionality to attract, convert and retain renters integrated with popular third-party property management systems.  The front end platform includes Property Websites, Contact Center, Online Leasing, CRM, Screening, Resident Portal and Payments.

Creates one of the largest payment processing platforms for real estate assets with over $55 billion of annual run-rate transaction volume.

Expands RealPage’s presence in the New York metropolitan market, complementing its recent acquisition of On-Site, the largest provider of tenant screening services in New York. ClickPay’s client base also represents a significant cross-sell opportunity for the RealPage platform.

Expands RealPage functionality to include lockbox and online banking capabilities, eliminating time-consuming and inefficient manual check processing.

Steve Winn, Chairman and CEO of RealPage

“Expanding our payments solution to include ClickPay has the potential to further accelerate one of the fastest growing areas of our platform. According to data from the U.S. Census Bureau American Housing Survey, over $525 billion of rent is collected annually. Only a fraction of that volume is processed electronically, and we estimate that the vast majority of the U.S. still pays rent with a paper check. In addition, according to industry sources, owner-occupied units in the HOA segment are spending approximately $60 billion per year in fees. We believe our scale gives RealPage a strategic position to drive deeper client adoption across most real estate categories for payment solutions as well as other solutions that reduce costs and improve efficiency. In addition, I believe ClickPay and our recent acquisition of On-Site together unlock a significant opportunity to attract, convert and retain renters for clients utilizing property management systems outside of the RealPage ecosystem.”

 

About RealPage

RealPage is a leading global provider of software and data analytics to the real estate industry. Clients use its platform to improve operating performance and increase capital returns. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves over 12,400 clients worldwide from offices in North America, Europe and Asia. For more information about RealPage, please visit www.realpage.com.

About ClickPay, a Division of NovelPay, LLC

As a leading platform for automating real estate receivables, ClickPay accepts most payment methods, including checks, e-checks (ACH), credit and debit cards. ClickPay offers integrated payment services to increase operational efficiencies and enable profitable growth. The ClickPay Portal provides property owners and managers with a customizable, electronic solution to bill and collect payments to increase operational efficiencies and increase resident satisfaction. To learn more, go to www.clickpay.com.

ClickPay Increases Processing Volume By Billions of Dollars of Payments in 2014

NEW YORK, NY (December 1, 2014) Twelve months after ClickPay and NovelPay merged, the new Company, has added billions of dollars of processing by expanding its sales efforts nationally, upgrading processing capabilities, adding new products, and enhancing its technology infrastructure. Since the merger last year ClickPay has also increased its processing volume by over 600%. New customers of ClickPay collectively manage tens of billions of dollars of processing for residents in 44 states fueling its future growth for 2015.

At its peak periods, ClickPay is processing thousands of real estate payments per minute via Online ACH, paper checks, credit card, and online bill pay.

ClickPay has built a robust, reliable and highly scalable solution, to address high volume requirements of property owners and managers and support the future growth of the business. The ClickPay solution creates operational efficiency and reduction in costs for property managers by simplifying and consolidating all payment methods, into a single comprehensive solution.

ClickPay’s highly customizable solution provides comprehensive software and services for billing, payment processing, third-party accounting integration and reconciliation that result in improved financial performance.

About ClickPay, a Division of NovelPay, LLC

As the leading provider of innovative payment solutions for the multi-housing industry, ClickPay offers fully integrated billing, payment processing and software services to accelerate the financial performance of its customers by reducing operating costs, creating operational efficiencies, and boosting resident satisfaction. These services provide property owners and managers with a customizable, electronic solution to bill and collect from their residents including online payments, lockbox, on-site check scanning, paper statements and e-billing. ClickPay accepts all payment methods including e-check (ACH), paper check, debit and credit card, and American Express. Utilizing years of collective experience in the real estate, electronic payment, and technology sectors, ClickPay has developed a comprehensive suite of services focused on real estate technology and financial performance.

For more information about ClickPay, visit www.clickpay.com.

ClickPay and NovelPay Merge to Create The Most Comprehensive Solution to Simplify Real Estate Billing and Payments

NEW YORK, NY (December 6, 2013) NovelPay and ClickPay announced today that they have
merged. The joining of these two leaders in the real estate payment market delivers the most
complete solution to unify all billing and payments, streamlining the administration of the collection
process. Existing investors of the entities, including Originate Ventures and Thayer Street Partners,
have backed the union by infusing additional capital to enhance the already rapid growth pace.

The unparalleled newly expanded company will move forward featuring the ClickPay “brand” in its
marketing.

Joining forces provides the “complete billing and payment solution” to enable property owners
and managers to collect payments from their residents including online payments, lockbox, paper
statements and e-bill, as well as accepting all payment methods including e-check, credit cards,
and American Express. The combined organization will serve the payment needs of the largest
multifamily owners and managers across the country from Hawaii to Maine. The Company serves
all aspects of the real estate market including multifamily, condo/coop, commercial, parking,
storage and other.

Additionally, the united Company now integrates with essentially every leading real estate
accounting software or property management program.

Ernest Muller, Co-Founder of NovelPay, said: “ClickPay has been a well-respected competitor for
many years, and we have always admired their reputation for quality and customer care. We shared
the same vision for our business. Our union enhances our ability to provide the most complete
billing and payment service in the market.”

“The NovelPay team has made their mark with their advanced platform and reputation for
incredible service and innovation. The technology in the world of payments is changing rapidly.
Combining our talents and resources enables us to accelerate our product and service evolution to
meet the needs of the residents and property managers we serve,” said Tom Kiernan, Co-Founder of
ClickPay.

“We appreciate the commitment of our employees and the loyalty of our customers in building this
business and now we appreciate their outstanding support during this transition period,” said Steve
Van Praagh, Co-Founder of ClickPay.

About ClickPay, a Division of NovelPay, LLC

As the leading provider of electronic payment solutions for the multi-housing industry, ClickPay
offers fully integrated payment processing services and software to accelerate the financial
performance of its customers by reducing operating costs, creating operational efficiencies, and
boosting resident satisfaction. These services provide property owners and managers with a
customizable, electronic solution to bill and collect from their residents including online payments,
lockbox, paper statements and e-bill. ClickPay enables property owners and managers to accept
all payment methods including e-check (ACH), credit cards, American Express, and paper checks.
Utilizing years of collective experience in the real estate, electronic payment, and technology
sectors, the ClickPay team has developed a comprehensive suite of services

For more information about ClickPay:
Gabriel Valentino, (201) 340-0214
gvalentino@clickpay.com

ClickPay Services Inc. Closes Series A Financing

ClickPay Services has announced the c losing of its Series A financing round lead by Originate Ventures. Eric Arnson of Originate Ventures joins the Board of Directors.

June 27, 2011 — ClickPay enables property owners to accept electronic payments for any type of property they own including rent payments, HOA fees and condo dues, parking, campus housing and commercial payments. This simplifies and automates the collection process providing a faster and more efficient method of collecting fees from residents. All the payments fund directly into the corresponding depository account and auto-sync features log the transactions in the owners accounting software. Resident’s benefit from the simplicity of paying with a simple click from their PC or mobile phone, tablet or PC. Additionally, ClickPay offers the convenience of paying their rent by credit or debit card in addition to paying directly from their checking and savings accounts. read more