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SAN DIEGO--(BUSINESS WIRE)--Jan. 11, 2000--theRent.com
(www.theRent.com), the premier source of Intranets for apartment
communities, announced an agreement with CheckFree Corp.
(Nasdaq:CKFR.O), the leader in electronic billing and payment, to
facilitate their online rent payment feature.
Through this agreement, CheckFree will conduct electronic funds
transfer (EFT) transactions over the Internet for rent and other
recurring payments made from theRent.com.
theRent.com specializes in helping owners and managers link their
residential communities with a Web-based venue for service requests,
community classifieds, community newsletters, shopping, surveys from
property management, and other "micro-local" content. theRent.com
offers online rent payment through their PremiumSite and
EnterpriseSite services.
PremiumSite allows owners and managers to quickly establish
property-specific Intranets featuring online rent payment using
simple, user-friendly registration "wizards" within a matter of
minutes. EnterpriseSite is an extensive license to leverage
PremiumSite across a portfolio of communities.
The adoption of online rent collection is expected to grow
rapidly over the coming months. Curt Nelson, president of theRent.com,
explained, "There are obvious benefits to both resident and manager.
Electronic payment of rental fees allows residents to save time and
money and provides an online record of transactions. The management
company benefits by receiving rent payments faster with reduced
administrative costs. We believe this is going to be the preferred
method of payment for the future."
Jupiter Communications reports that by the end of 1999, the
average U.S. online household will be able to receive three monthly
bills (29 percent) through online bill presentment. This figure is
expected to grow to approximately eight monthly bills (65 percent) in
2002.
"Rent payments are one of the most important recurring monthly
payments many consumers make," said Dick Mitchell, vice president of
CheckFree Electronic Commerce division. "This agreement enables
CheckFree to tap into one of many exciting new markets where an
increasing number of consumers and companies will benefit from
electronic transactions. As property managers shift communication with
residents to the Web, it's a natural step to enable rent payment
online. CheckFree is already working with leading telcos, utilities,
cable and cellular billers, and this increases the number of bills
consumers can pay electronically."
About CheckFree
CheckFree Corp. (www.checkfree.com), is the leading
provider of financial electronic commerce services and products.
Founded as an electronic payments processor in 1981, CheckFree
launched the first fully integrated electronic billing and payment
solution, CheckFree E-Bill, in March of 1997. Today, CheckFree
services enable three million consumers to receive and pay bills over
the Internet or electronically.
The company has multi-year contracts with 77 of the nation's top
billers to provide online billing and payment through its network of
partnerships with consumer service providers (CSPs), including banks,
brokerage firms, Internet portals and content sites, and personal
financial management (PFM) software. CheckFree's Investment Services
division provides a range of investment management services to help
more than 255 institutions provide portfolio management and reporting
services to their clients.
CheckFree clients manage over 760,000 portfolios totaling more
than $400 billion in assets. Software and services provided by
CheckFree's Compliance and Financial Service division are used to
process more than two-thirds of the nation's six billion Automated
Clearing House (ACH) payments. In addition, nearly 400 banks and
businesses use reconciliation products and services the division
provides.
About theRent.com
theRent.com Inc. is the premier source for property-specific
intranets for apartmentcommunities and a pioneer of online rent
payment. Since its inception, theRent.com has moved quickly to address
the evolving e-Commerce needs of the multi-family industry. The
company is positioned to enhance apartment living for residents and
open new profit opportunities for property managers, using the
efficiencies and power of the Internet. theRent.com is a
privately-held company located in San Diego.
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CONTACT: theRent.com
Amy Glass, 619/696-5019 ext. 124
aglass@theRent.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS INTERNET E-COMMERCE
CONSUMER/HOUSEHOLD |
