SANTA BARBARA (STL.News) – Property managers can make secure, paperless payments to vendors with a Mastercard virtual credit card created exclusively for Yardi® Bill Pay.
Yardi Bill Pay completes the entire vendor payment transaction process with a single-use virtual card number that’s generated only when needed and approved. Payments are embedded with transaction-level controls that include supplier, amount and date or date range. The system leverages existing workflows, saving time and money previously required to process paper checks, complete payment file uploads and retrain staff.
Property managers gain full control and visibility over spend while avoiding per-transaction fees associated with checks and ACH. Credit card payments, which often offer a rebate percentage or other incentive, also add a potential revenue source.
Built into Yardi Voyager®, Yardi Bill Pay requires no interaction with other data sources. This integration applies Yardi Voyager security features and workflows, records all payments immediately, ensures application to the correct accounts and makes payment records instantly accessible to all authorized staff.
Yardi Bill Pay benefits vendors by helping their property manager clients purchase products and services quickly, easily and in volume. Vendors must be enrolled in VENDORCafé®, a component of Yardi® Procure to Pay, and agree to pay a per-transaction fee.
“Mastercard is committed to provide secure, efficient and paperless payments for the property management industry,” said Marie Aloisi, senior vice president, business development, U.S., at Mastercard. “The Yardi Bill Pay solution, powered by Mastercard’s virtual cards, benefits suppliers by providing faster payments and reconciliation tools to ensure a seamless experience for all parties.”
“Users need only initiate a payment in Yardi Voyager and Yardi Bill Pay completes the entire paperless process. Vendors can earn preferred supplier designation, reduce the need for credit checks and collection efforts, improve their cash flow and shorten their days sales outstanding,” said Akshai Rao, vice president of Yardi Procure to Pay and Energy.
Call 800-866-1144 for more information about Yardi Bill Pay and the Mastercard virtual credit card.
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.