WALNUT CREEK, Calif. and LOS ANGELES, Oct. 15, 2013 /PRNewswire/ -- DoubleBeam, a provider of mobile retailing solutions (www.doublebeam.com), and YapStone (www.yapstone.com), a leading provider of electronic payment solutions to large vertical markets such as property management and non-profits, announced plans to integrate DoubleBeam's mobile check capture technology into YapStone's RentPayment™ mobile application. The redesigned RentPayment mobile application with DoubleBeam technology is slated for a year-end release.
Today, RentPayment users can make electronic payments using multiple channels, including the web, by text message, by phone and via the RentPayment App. By embedding the DoubleBeam mobile check capture technology into the RentPayment App, renters will be able to quickly and easily set up their mobile payment account by taking a picture of a check or credit/debit card. Renters can store the information for a one-time payment or leverage the technology for recurring use.
"Current electronic rent payment solutions require users to manually input their bank account routing information or credit/debit card number to onboard their payment account," said Michael Denbeau, SVP of Business Development at YapStone. "This process is highly inconvenient for the renter and can lead to data entry errors resulting in costly NSF's for the renter and property. By leveraging DoubleBeam's cutting-edge mobile check capture technology, renters can seamlessly add their payment account information and establish one-time or recurring payments with a simple snap of a picture from their iPhone or Android device. Property managers benefit because the App reduces the number of physical checks that find their way into the leasing office, freeing up managers to focus on renter retention and closing new leases."
DoubleBeam is one of the first mobile payments technology providers to leverage mobile-based check and credit/debit card image capture technologies to onboard users and help facilitate frictionless payments.
"We are very excited to partner with an industry leader like YapStone," said Ted Tekippe, CEO of DoubleBeam. "YapStone shares our passion for developing user-friendly, innovative mobile commerce solutions. By offering a convenient mobile payment option, RentPayment makes it easier for today's on-the-go renter to pay their rent on time, and ultimately reduce delinquencies and improve cash flow for property managers."
DoubleBeam provides white-labeled mobile payments technology solutions designed to easily integrate into any existing mobile application or digital wallet. DoubleBeam's technology solutions have been deployed by mobile commerce providers, retailers and point-of-sale (POS) vendors, delivering an enhanced end-user experience, driving out costs by virtually eliminating transaction fees, and leveraging captured data to deliver more targeted, relevant offers and rewards/loyalty programs. DoubleBeam is located in Pasadena, California. Visit www.doublebeam.com for more information.
RentPayment is a division of YapStone, the leading global provider of web and mobile payment solutions and processing for targeted vertical markets such as property management and non-profit, as well as several other recurring bill payment markets. Established in 1999, YapStone's payment service processes billions of dollars annually, with an on-demand platform that offers web-based and mobile payment processing and integration to its clients' accounting systems and websites. YapStone's technology includes a unified, real-time reporting platform, credit/debit card, electronic check processing, check conversion and cash payments. YapStone has been recognized in Inc. 5000 Fastest Growing Private Companies for the last 5 years, and was recently named to Forbes' 100 List of America's Most Promising Companies. In 2011, Accel Partners and Meritech Capital Partners made a $50 million minority investment in YapStone. Visit www.yapstone.com for more information.