Payment Processing for Commercial

Increase efficiency & maximize cash flow

Speed up rent collection, eliminate bank runs and streamline vendor payments. Increase convenience for tenants and staff with a complete solution for accounts receivable and accounts payable.

Features

Collect rent quickly

Give tenants the convenience of making payments online with simple, browser-based access and handy mobile apps. Tenants can pay directly from a bank account or with a credit or debit card. Online payments are entered directly into Yardi Voyager, with automatic deposits and easy bank reconciliation.

Streamline check processing

Reduce data entry, human error and banking fees. Scan batches of personal, corporate, bill pay and cashier’s checks as well as money orders. Instantly create receipt batches in Voyager for all items and permanently store the image files — so you don’t need to make copies.

Automate bill payments

Automate electronic vendor and owner payments, including check writing, to save time. Payments are automatically administered, distributed and recorded in Voyager — speeding up processes, reducing errors and cutting paper waste. For vendors and owners that don’t accept electronic payments, we can process, print and mail checks for you, saving significant time and increasing productivity.

FAQ

How are credit card payments processed?

Credit card payments that are routed via Yardi’s native card payment services interface are processed via Yardi’s payment facilitator platform. Credit card payment processing via a third-party merchant provider is no longer supported.

What types of check scanners does Yardi support?

Magtek Excella

Panini Vision X

Panini My Vision X

TellerScan TS240

What’s the difference between a surcharge and a service fee or convenience fee?

A surcharge is a charge that a merchant imposes only on non-cash-paying customers. For example, if an item costs $10 for a cash-paying customer and $11 for a credit card-paying customer, the extra dollar is a surcharge because it applies only to the customer who pays with a credit card. However, if an item costs $10 and the merchant adds a $1 charge for all customers regardless of the method of payment they use, it is a service or convenience fee. The laws that prohibit surcharges do not prohibit service fees and convenience fees.

What does it mean that Yardi is a payment facilitator?

Yardi operates as a registered payment facilitator in the United States and Canada. A payment facilitator is an organization that has been licensed by the payment card brands to sell its payment services to its clients. Most payment facilitators are software companies that extend their solution stack by offering payment acceptance and processing as part of their overall package of services.

Does Yardi Payment Processing comply with National Automated Clearing House Association (NACHA ) rules?

Yes. As of 2021, NACHA requires a two-step verification process when residents add a new bank account. Yardi makes a micro-deposit to the new account, and the resident has to verify the account by entering the deposited amount.