Rentec Direct
How recurring digital payments were key to reducing late payments and driving 98% avg. revenue growth
The customer
Products used: ACH, Credit/debit card, Advanced Gateway Interface (AGI)
The challenge
RentecDirect’s customers—landlords and property managers—needed to be able to accept digital payments and have that payment solution integrated to allow them to handle late fees and missed rent as well.
Rentec sought a payments partner that could provide them with the payment tools and efficiencies designed for its landlords.
The solution
CSG Forte enabled Rentec and its clients to accept both ACH and credit card payments digitally.
Integration: By implementing CSG Forte solutions on their backend, they were able to integrate their systems in only three weeks.
Automated sign-up process: allows merchants to fill out the application form and potentially receive instant approval. With CSG Forte, Rentec has been able to turn what was once a two-week undertaking into a two-hour solution.
Rentec’s growth continues, supporting more than 16,000 customers totaling more than 700,000 properties. CSG Forte’s solutions have been especially helpful as property owners utilizing Rentec’s solution navigate the COVID-19 pandemic.
Between April and July 2020, renters failed to pay on time approximately 22 percent of the time. However, renters who used Rentec’s recurring payment system, powered by CSG Forte, only made late payments 1 percent of the time.
“CSG Forte is the best partner in payments we’ve ever had.”