Experian continues its commitment to U.S. renters by expanding options for building credit history through on-time rental payments Experian RentBureau now working with WilliamPaid to provide renters with another choice for making their monthly rental payments matter

COSTA MESA, Calif., Feb. 26, 2013 /PRNewswire/ --Experian®, the leading global information services company, today announced that its RentBureau® business is making additional options available to renters through its collaboration with electronic payment processor WilliamPaid. WilliamPaid enables renters throughout the country to pay rent electronically and now gives them the opportunity for their rental payments to be reported to Experian RentBureau. RentBureau will include on-time rental payments on the Experian credit report, which may help consumers to build their credit history. Additionally, if the renter pays directly from his or her bank account, there is no charge to the renter or the landlord for electronic rent payment processing. Regardless of payment type, there is no fee to the renter or the landlord for the reporting of payments to Experian RentBureau.    

Experian, through its RentBureau business, currently receives rental payment data from more than 3,000 apartment communities, most of which are managed by large property management companies. WilliamPaid joins Experian RentBureau's expanding suite of rental payment processors, providing more opportunities and options for renters to have their on-time rental payments incorporated into their Experian credit reports. Landlords interested in receiving electronic rent payments, despite the type of property they own, can take advantage of this new collaboration and extend the benefits to their residents. Residents who meet the eligibility requirements may choose to have their rental payment data reported to Experian RentBureau.

"Experian was the first and still remains the only major credit reporting agency to include rental payments on credit reports," said Steven Wagner, president, Experian Consumer Information Services. "We feel it is essential to empower consumers to take more control when it comes to building their credit history, and this collaboration with WilliamPaid is another way we're making it more accessible than ever. With 35 percent1 of the U.S. population renting, a rent payment should mean much more than just a positive mark in the landlord's ledger." 

For renters, not only can this make a difference for those who are looking to build credit history, but it also may potentially help thin-file or underbanked consumers, who may now become scoreable by certain traditional credit scoring methods and may potentially gain access to credit.

For landlords, it encourages on-time payments, less manual processing of rent checks and the ability to further differentiate their properties by offering their residents this benefit.

"We are thrilled to be working with Experian RentBureau on this endeavor and see incredible value in providing consumers with this opportunity to make their rental payments matter," said Jeffrey Golding, president of WilliamPaid. "During these difficult economic times, it is important to take steps to build your credit standing, and our service allows renters to be rewarded for doing something they already do every month — pay rent. We're proud to provide our customers with this opportunity, free of charge, to help them reach these types of financial goals."

About WilliamPaid  
WilliamPaid, an electronic rent payment processor, is the easiest, most efficient way to pay rent by providing convenient and flexible payment options that work with any landlord. Users can pay online via credit card, debit card, bank account or any combination of the three, or in cash at over 45,000 locations nationwide — giving renters the power to pay on their own terms. Renters are also given the option to schedule automatic payments with Autopay and the ability to split and track payments with roommates.

To learn more about WilliamPaid, please visit http://www.williampaid.com.

About Experian RentBureau
RentBureau is the largest and most widely used credit reporting agency for the multifamily industry. RentBureau's database receives rental payment histories every 24 hours from property management companies and currently includes more than 9 million residents nationwide. Data contributors report their rental data to RentBureau directly and automatically. Property management companies utilize this data to screen new rental applicants' payment history as part of their existing resident screening services.

To learn more about Experian RentBureau, please visit http://www.rentbureau.com.

For renters interested in building credit history through rental payments, please visit http://www.experian.com/buildcredithistory.

About Experian
Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2012 was US$4.5 billion. Experian employs approximately 17,000 people in 44 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and Sao Paulo, Brazil.

For more information, visit http://www.experianplc.com.

Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.

1Data referenced on the National Multi Housing Council site: http://www.nmhc.org/Content.cfm?ItemNumber=55508

Contact: Kristine Snyder
Experian Public Relations
1 714 830 5192
kristine.snyder@experian.com

SOURCE Experian



RELATED LINKS
http://www.experian.com
http://www.williampaid.com

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