Transcard Streamlines Security Deposit Refunds with their Multi-Party Payment Solution

PRESS RELEASE:

December 5, 2022

Transcard, a leading global provider of payments and financial services technology solutions, is enabling property management firms to simplify and accelerate the refund of tenant security deposits with a first-of-its-kind multi-party payment solution.

Through SMART Disburse, security deposits can be reviewed, allocated, and paid digitally from any mobile device, laptop, or PC. Lessees can choose the method of payment for their security deposit, which can be sent to a debit card, directly to the customer’s bank account, or via paper check.

When lessee opts for real-time payment, they can receive security deposit refunds into their bank account within a matter of seconds. In cases where multiple individuals are on a single lease, lessees can digitally collaborate to allocate funds, avoiding the need for back-and-forth phone calls and emails.

The quick, seamless process simplifies refund disbursements and enhances customer satisfaction. Disbursements are automatically reconciled in the property management firm’s system of record. And property management firms can white-label the disbursement solution with their own branding.

SMART Disburse Multi-Party Payments is part of the SMART Suite powered by Transcard. SMART Suite is a unified, cloud-native global platform for disbursements, collections, merchant processing, account-to-account (A2A) transactions, and embedded supply chain processing.

"As more consumers embrace digital payments for daily financial tasks, we’re giving lessees more options for how they receive security deposit refunds,"

said Transcard CEO Greg Bloh.

"As a global payment leader, we are always looking for ways to improve the customer experience. With SMART Disburse, we’re not just simplifying security deposit refunds for property management firms, we’re creating better customer experiences by adding choice and convenience to the refund process."

SMART Disburse Multi-Party Payments also can support business applications such as insurance claim payouts to multiple individuals and disbursements during the real estate closing process.

ABOUT TRANSCARD
Transcard makes frictionless payments a reality with comprehensive global payment solutions designed for banks, fintechs, and businesses of any size and in any industry. We deliver solutions for B2B payments, B2C payments, B2B2C payments, A2A automation, BaaS. Our solutions combine unmatched multi-rail capabilities, embedded workflows, best-in-class integration, effortless reconciliation, and bank-grade security. These are some of the reasons that 550 businesses and more than 200 banks trust us with their payments.