Electronic billing platform provider Paymentus and real estate software solutions supplier MRI Software partnered to meet the growing demand for digital payment options.
The collaboration aims to streamline rental property utility payments by expanding the utility billing and payment capabilities available to MRI clients, the companies said in a Monday (Oct. 23) press release.
The integration between Paymentus and MRI Software allows renters to receive, manage and pay bills from various national, regional and local utility providers connected to the Paymentus Instant Payment Network (IPN), according to the release. Moreover, the partnership offers a range of expanded payment options to enhance flexibility and convenience for tenants.
The partnership will enable MRI to accommodate the growing preference for digital payment options when it comes to paying bills, the release said. Paymentus supports an array of payment methods and channels, including online, mobile, IVR, text, kiosk, point of sale and agent-assisted payments. Additionally, Paymentus integrates payment options such as Venmo, PayPal, Apple Pay, credit, debit, ACH, digitized cash and cryptocurrencies.
“Today’s renters value the flexibility that comes with digital payment options,” MRI Software Vice President of Partner Connect Sean Slack said in the release. “As an MRI partner, Paymentus will enable our clients to exceed expectations for multifamily, affordable and student housing renters by offering more ways to pay for utility services, resulting in a more satisfied, engaged community.”
For property managers, the integration with MRI Property Management X will directly connect tenants to their utility providers, reducing the number of payments for multifamily property managers to handle and minimizing delinquencies and service shut-offs, Paymentus founder and CEO Dushyant Sharma said in the release.
“When we expand payment optionality and remove friction from the process, bills get paid on time and in full,” Sharma said.
PYMNTS Intelligence found that the bill payment process can often be a source of frustration for consumers. Fifty-two percent of consumers reported that they have experienced difficulties when attempting to pay their bills, ranging from complicated payment processes to technical glitches and delays, according to “Holistic Bill Pay Wins Over Users — but Holdouts Remain,” a PYMNTS and Paymentus collaboration.