What’s a Payment Gateway?

it’s what we call the service that tenants use to pay rent to us. There are a couple around – we have a Ray White one but there are others around like Rental Rewards and others like it.

I am wondering about what our risk is in this process? How do we know that everything is working OK?

Boxcar – there are very strict guidelines surrounding the security of account details. IP Payments is compliant with all relevant bank and payment security standards including the very stringent PCIDSS (Payment Card Industry Data Security Standard). You can advise your tenants that their credit card details are encrypted in the system, that they only need to disclose them ONCE and that all security standards are met when processing their payments.

There is no risk to your office provided you have signed authority from the tenant for payments to go through.

Ellen – Payment Gateway is the Ray White branded payment system for tenants. It allows tenants to make payments via telephone, internet or automatic direct debit out of a bank account or credit card, BPAY and over-the-counter at Australia Post. It streamlines the payment process to reduce office costs and administration, and eliminate manual handling.

Thanks. But what about our systems? What do we need to do at our end?

Boxcar – all you need to do for Payment Gateway to speak with your Property Management Software is enter the tenant’s Payment Gateway number as the bank link. So then when you upload the PAY file, it will communicate with your software through that tenant number and receipt automatically against the property. Does that answer your question?