Visa U.S.A. and Westdale Asset Management, Ltd. announced an agreement that will make rent payment more convenient for Westdale residents in the Atlanta, Georgia area. Effective immediately, more than 1,500 residents at Barringer Place in Atlanta, Brentwood Downs in Lilburn, Wellington Ridge in Lawrenceville, and Wood Bridge in Apharetta will have the option of paying their monthly rent automatically with their Visa card.
Following Westdale’s initial acceptance of automatic and one-time card-based payment at its four Georgia properties, the company looks forward to rolling out automatic bill payment at its 135 rental communities nationwide. By providing residents with this innovative payment option, Westdale joins several organizations in other industries already benefiting from Visa’s automatic bill payment program.
Card acceptance and the Visa automatic bill payment program not only provide convenience benefits to Westdale residents, but real business advantages for Westdale. Because the costs associated with cash and check handling are consistently higher than those associated with payment card transactions, this program will help to cut processing costs and streamline collections. Additionally, automatic bill payment will ensure Westdale’s receipt of on-time payment and will result in fewer delinquencies. The program will also enable Westdale to expand payment options, which can help them to differentiate themselves from competitors, leading to increased resident retention. Consumers are becoming increasingly more aware of the benefits automatic bill payment offers them. According to a national survey, one-third of all U.S. consumers would like merchants to establish automatic bill payment programs.(1)
Visa research has also found that 51 percent of credit and debit cardholders want the option of using a payment card to pay recurring bills automatically because it eliminates the need to write and mail multiple checks every month. “By implementing an automatic bill payment program with Visa, Westdale is demonstrating that it is a leader in the property management industry,” says Armen Khachadourian, SVP New Market Development, Visa U.S.A. “In addition to providing its residents with an ideal, convenient payment option, Westdale also gains a business enhancement tool. Automatic bill payment helps to address many of the billing and customer service challenges residential property management companies currently face and we look forward to further addressing the needs of this industry in the future.”
“Visa’s automatic bill payment program complements our existing commitment to our residents to make paying their monthly rent more convenient,” says Karen Tepera, Executive Vice President, Westdale Asset Management, Ltd. “While offering the option of automatic payment will help improve customer service, we expect that working with Visa to establish this program will also enable us to build resident loyalty and ultimately increase operating efficiency.”
About Visa U.S.A.
Visa is the world’s leading payment brand and largest consumer payment system, enabling banks to provide their consumer and merchant customers with a wide variety of payment alternatives. More than 14,000 U.S. financial institutions rely on Visa’s processing system, VisaNet, to facilitate over $835 billion in annual transaction volume – including roughly half of all Internet payments – with virtually 100 percent reliability. U.S. consumers carry 353 million Visa-branded smart, credit, commercial, stored value and check cards, accepted at approximately 22 million locations worldwide. Visa’s people, partnerships, brand, payment technology and security standards are helping to create universal commerce – the ability to safely conduct transactions anytime, anywhere, anyway. Please visit [http://www.visa.com] for additional information.
Westdale Asset Management, Ltd. is a real estate management company providing property management and asset management services for multi-family properties throughout the United States. Specializing in each of the facets, Westdale continues striving toward excellence, with a foundation built on commitment. Westdale currently has over 37,000 units in its portfolio inhabiting 13 states nationwide in 20 major metropolitan areas. Please visit [http://www.westdale.com] for additional information.