Property Vista is excited to announce the launch of outbound payments for Vista Pay across Canada in Q4 2022 and across the US in Q1 2023, in collaboration with Dream Payments (“Dream”) and Dream’s connectivity to J.P. Morgan’s digital payment services. Property management companies can now rely on Vista Pay to service their end-to-end cycle of payments. Directly from the Property Vista platform, they can collect rental payments from tenants and send payments to vendors, owners and tenants.
Property management companies often struggle to streamline the process of payments. Without a built-in outbound payment functionality, employees spend an average of an additional seven minutes per transaction when they send payments via banking platforms or paper cheques. There is also the rigorous process of sharing bank credentials with employees or management companies and the security and privacy concerns that often scare property owners away from electronic payment. However, the launch of outbound payments for Vista Pay will resolve these challenges.
Property Vista’s clients can now save up to 50 hours and between $1000 to $3000 in processing payments monthly. On top of its existing rent and fee collection function, Vista Pay will now include the outbound payment feature that enables property managers to send payments securely to multiple vendors and owner distributions instantly and directly from the Property Vista platform. Property managers can also see the balance of the bank general ledger on the updated Expense and Payment User Interface, further saving property managers the step of checking the balance on an external platform.
Through the Dream Payments partnership, vendors can choose how they want to receive payment with a few clicks. Payment options include ACH/EFT, paper cheque, or virtual card.
“Issuing supplier payments and owner distributions manually via cheques or wire transfers are a real pain point for our clients,” said John-Paul Gaconnier, Chief Product Officer, Property Vista. “With the introduction of our outbound payment feature, property managers can pay multiple vendors, return deposits to tenants, send out owner distributions, all with a few clicks on our platform. Through our partnership with Dream Payments, we are automating and digitizing the property management payment process and enabling our tech savvy clients to streamline their operations in this digital age.”
“By integrating to the Dream API and embedding Dream’s digital payment services directly into its industry leading property management software platform, Property Vista will enable fast, frictionless, and secure payments between property managers and their tenants and vendors,” said Brent Ho-Young, Dream Payments CEO. “Vista Pay is powered by Dream’s cloud-native outbound payment platform and its connectivity to JP Morgan’s multi-channel digital payment rails. Dream looks forward to Vista Pay’s transformation of payments across the North American property management industry.”