SOURCE: NWP Services Corporation

June 26, 2008 12:05 ET

NWP Services Corporation Launches "Pay by Cash" Solution for Resident Rent Payments

New Offering Enables Cash Payments to Be Made Off-Property, Eliminating the Need for Money Orders

IRVINE, CA--(Marketwire - June 26, 2008) - NWP Services Corporation today announced that it has enhanced its Resident ePay electronic rent payment processing service with its new "Pay by Cash" solution.

Powered for NWP by CheckFreePay, now part of Fiserv, Inc., "Pay by Cash" enables residents to pay their monthly rent balance with cash at retail locations in their area. CheckFreePay has more than 15 years experience providing walk-in agent cash payments. Their network of agent locations, more than 12,000 nationwide, includes grocery stores, convenience stores, mail and shipping centers and other convenient locations.

This new program eliminates the need to take cash and money order payments at the apartment property and helps reduce instances of lost payments, theft and fraud. Because Resident ePay routes cash payments made off-property into the property's bank account, and payment information into the residents' electronic ledgers, it also helps cut down on administrative work and data entry conducted on-site.

"Since 2006, NWP has provided the industry's most comprehensive payment processing solutions to property owners with methods including online check payments and on-site check scanning," stated Michael Radice, president and CEO of NWP. "The addition of this new cash payment option to our Resident ePay program means that cash and money order payments traditionally made at the property management office are now handled off-site and converted into electronic transactions that are communicated to the property management software system. Not only does this help owners get cash into the bank faster and reduce costs, it will also provide better tracking and accountability for these types of payments."

"NWP's cash pay program will prove to be an excellent solution for Riverstone," stated Kelli Smith, Director of Business Services for Riverstone Residential Group. "This program has helped us save time and improve compliance at our site-level management offices, and we are able to offer a greater level of service by simplifying the rent payment experience for our residents. Our Residents can now pay by cash at the same location where money orders are typically purchased, saving residents an extra trip back to the leasing office." Smith added, "We are new to this service, but resident satisfaction has been reflected in adoption rates; thirty percent of Riverstone's residents who have been introduced to the program have utilized it."

About NWP Services Corporation. Headquartered in Irvine, California, NWP Services Corporation (NWP) provides financial transaction processing services for the multifamily industry including resident billing, resident payment and utility management. Resident billing helps owners recover utility expenses with options including convergent billing with Resident OneBill. NWP's Resident ePay service allows residents to pay rent and other charges online or in person with funds transferred to the bank electronically. With UtilityPay Manager, NWP processes invoices sent to properties by utility companies, helping managers reduce time spent on administrative work while providing valuable data and additional utility cost management opportunities. Additional information is available at www.nwpsc.com.

About Fiserv, Inc. Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), software and systems solutions. Headquartered in Brookfield, Wis., the company is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. In 2007, the company completed the acquisition of CheckFree, a leading provider of electronic commerce services. Fiserv reported nearly $4 billion in total revenue from continuing operations for 2007. For more information, please visit www.fiserv.com.

Contact Information

  • Contact for NWP Services Corporation:
    David Collins
    949-253-2589
    Email Contact