RealDesk and Zum Rails Enable Payment Processing for Canadian Real Estate Brokerages

RealDesk.ai and Zum Rails have partnered to enable Canadian real estate brokerages to use one solution to power the entire transaction lifecycle, from lead to close.

With this collaboration, Zum Rails’ payment processing will be added to RealDesk’s real estate management platform, the companies said in a press release emailed to PYMNTS.

This integrated offering will offer a solution to the challenges real estate brokerages face with disconnected, manual payment processes, RealDesk CEO and founder Marc Sykes said in the release.

“By partnering with Zum Rails, we’re accelerating and streamlining transactions, freeing brokers to focus on what matters most — growing their business and serving clients,” Sykes said.

RealDesk’s real estate management platform provides a digital solution for contracts, reporting, agent/broker communication, and other parts of the home buying and selling process, according to the release.

By working with Zum Rails and adding payment processing to its capabilities, the platform will power the entire transaction lifecycle and accelerate the payment process by as much as 80%, the release said.

Brokers will be able to use the platform to offer a variety of digital, real-time payment options and to request and process deposits, rental payments, agent commissions, brokerage fees, refunds, closing funds and other transactions, per the release.

Zum Rails also provides risk management capabilities, according to the release.

“Payments and invoicing are the lifeline of any business,” Zum Rails CEO and Co-founder Miles Schwartz said in the release. “But more often than not, facilitating these processes in a seamless, efficient way creates unnecessary challenges for businesses and their customers. RealDesk is the only platform solving these challenges for real estate brokerages across Canada.”

Real estate firms realize that adopting modern payment solutions can help maintain and strengthen their relationships with vendors and suppliers, according to a PYMNTS Intelligence and The Clearing House collaboration, “Corporate Changes in B2B Payment Practices: The Future of Real-Time Payments in Real Estate.”

Zum Rails said in February that it raised $10.5 million CAD (about $7.7 million) to expand its open banking/instant payments solution.

“We’ve brought open banking and instant payments together in an omni-rail solution that enables companies to check off all of their payments needs from a single gateway,” Zum Rails Co-founder Marc Milewski said at the time in a press release.