B2B Platform Transcard Enables Multi-Party Payments for Property Managers

Transcard has launched a solution that enables property managers to more quickly refund security deposits.

The global payment solutions provider said in a Monday (Dec. 5) press release that its new Smart Disburse Multi-Party Payments also allows lessees to choose the method of payment.

“As more consumers embrace digital payments for daily financial tasks, we’re giving lessees more options for how they receive security deposit refunds,” Transcard CEO Greg Bloh said in the release.

Lessees can choose to have their security deposit refund sent to a debit card, directly to their bank account or via a paper check. Those who opt for real-time payment can get their refund within seconds, according to the press release.

If multiple individuals are on a single lease, lessees can collaborate digitally to allocate the funds, the release said.

For property management firms, Smart Disburse enables reviewing, allocating and paying security deposits digitally from any mobile device, laptop or personal computer, and the disbursements are automatically reconciled in the firm’s system of record, per the release.

“As a global payment leader, we are always looking for ways to improve the customer experience,” Bloh said in the release. “With Smart Disburse, we’re not just simplifying security deposit refunds for property management firms, we’re creating better customer experiences by adding choice and convenience to the refund process.”

PYMNTS research has found that a growing number of chief financial officers (CFOs) are working to consolidate payments as the needs of their employees, clients and partners evolve.

This may be an essential step for CFOs looking to provide the next-generation accounts payable (AP) and accounts receivable (AR) processes their organizations need to stay competitive in a world where seamless payments are rapidly becoming table stakes, according to the “Next-Gen Digital Payments Report,” a PYMNTS and Transcard collaboration.