Stocks & Investing
Stocks and Investing
Stocks and Investing
Tue, June 23, 2009
Mon, June 22, 2009
NWP Services Corporation: NWP Services Corporation and Western Union to Deliver Pay Rent by Cash Option to the Multifamily Hous
IRVINE, CA--(Marketwire - June 22, 2009) - NWP Services Corporation (NWP), the leading provider of financial transaction processing solutions for the multifamily housing industry, announced today that it will team with Western Union Global Payment Services, an operating division of The Western Union Company (
NWP currently offers a comprehensive suite of billing and payment transaction support services that include resident rent and utility billing, electronic rent payment and utility management services. Its relationship with Western Union, a global leader in money transfer and an innovator in the field of electronic person-to-person money transfer transactions, will offer additional convenience and choice to both apartment residents and management companies.
"More walk-in payment locations mean that apartment residents who prefer paying their rent in cash will have a quick and convenient payment option. Many Western Union Agent locations are in grocery and convenience stores and other locations that residents may already frequent on a regular basis to shop or pay other bills," stated Andrea Tucker, Product Manager for NWP's Resident ePay service.
Pay by Cash is one of more than four flexible ways NWP's Resident ePay service helps owners and operators of multifamily apartment communities improve their rent collection process and financial operations. NWP's Pay by Cash requirements for interfacing with various property management software programs addresses partial payment and eviction issues that challenge property managers. An added convenience, residents using Pay by Cash do not need to obtain a printed authorization document from the leasing office making it possible to pay rent and other lease related charges when and where it is most convenient for them. Resident ePay includes a full suite of electronic payment features including check scanning for both personal checks and Check21 payments including Money Orders, online check payments for rent, utility and other lease related payments and Credit Card Payments.
"NWP complements Western Union's other person-to-person payment services and is consistent with our vision of providing a broad range of payment and processing choices to our ever-growing resident base in the multifamily housing market," commented Jim Charles, Senior Vice President of Product Management and Engineering for NWP.
Charles highlighted NWP's long-term commitment to innovation and investment in research and development across all product groups. "We are well-positioned with Western Union Global Payment Services to assist the apartment communities we serve in Affordable Housing, Conventional, Student Housing, and other markets to provide another convenience to our customer's residents. As a customer of NWP, you can sign up to have your residents take their account information to a Western Union Agent location (located in many stores) and pay their utility or rent bill with cash. It's fast and easy," added Charles.
About NWP Services Corporation:
Headquartered in Irvine, California, NWP Services Corporation (NWP) serves the multifamily housing industry as its leading financial transaction processing provider. NWP is known for its industry expertise delivering proven results and exceptional quality in resident billing, resident payment processing and utility management.
Resident billing by NWP helps property owners offset their utility expenses. The company's utility cost recovery team allocates utility charges to residents and prints and sends the bill; NWP's billing options now include convergent -- or "rent-inclusive" -- billing through its Resident OneBill service. Complementing its billing services, the company's electronic resident payment processing service; called Resident ePay; enables residents to pay their rent, utilities and other monthly charges online or at the rental office with funds transferred to the property's bank account electronically. Resident ePay gives residents convenience and choice and enables owners to access cash faster. In addition, with its UtilityPay Manager program, NWP processes and pays invoices sent to customers' properties by utility companies. UtilityPay Manager helps customers reduce time spent on administrative bill payment work and provides them with valuable utility data and additional cost management opportunities, including recovering expenses from residents when they fail to transfer utilities into their own name.
NWP's offerings are available as individual services or as a fully integrated solution and are designed to accelerate the financial performance of our customers, allowing them to recover and reduce operating costs, create operational efficiencies, improve NOI and FFO and boost resident satisfaction. Additional information is available at [ www.nwpsc.com ].
About Western Union:
The Western Union Company (
