Property management technology startup Zego, powered by PayLease, is teaming up with payment processing firm CheckAlt to help property managers end the paper chase that comes with on-site payments, according to a press release emailed to PYMNTS.
The strategic collaboration between the two companies will launch Zego Pay Lockbox to give property managers the ability to outsource the handling of paper-based payments. Zego’s platform will also help property managers move toward 100% digital payments.
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Zego Pay Lockbox offers contactless service and enables people to pay with a check, while also automating the receivables process from start to finish for property managers and homeowner associations. The solution gets rid of manual check processing and reduces the possibility of fraud that can come from having paper payments on site.
Stephen Baker, chief product officer at Zego, said that the company’s collaboration with CheckAlt addresses the pain points property managers have and is “truly a win-win” for everyone.
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Using a single payments platform and a consolidated workflow, managers can handle all payments from residents. Reconciliation is automated, and there is immediate transparency of financials and ledgers.
“There’s a misnomer that checks are dead, but this couldn’t be further from the truth,” said Allison Murray, chief growth officer of CheckAlt, adding that there are “millions and millions of checks being used every day.”
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Murray said that its partnership with Zego offers tools that “meet payers where they are” and streamlines the information into one location to make receivables easier to manage.
Zego is a property technology company that offers solutions to property management firms and community associations. CheckAlt is the biggest independent firm offering payment and deposit processing solutions, as well as receivables management, in the U.S. The firm handles over 1,000 clients in numerous sectors.
