Newark Housing Authority Introduces Rezzcard Rent-Payment Processing

Card Based Solution Eases Rent Payment for Tenants in Affordable Housing

Newark , NJ (StateNewsWire) Dec 11, 2012 —
FOR IMMEDIATE RELEASE

Go Pay LLC dba Rezzcard
122 Hardenburgh Avenue
Haworth, NJ 07641

Media Contact: Arlene Hauben
305-206-4488

Newark Housing Authority Introduces Rezzcard Rent-Payment Processing Service
Card Based Solution Eases Rent Payment for Tenants in Affordable Housing

NEWARK, New Jersey (December 3, 2012) – The Newark Housing Authority (NHA) has introduced Rezzcard, the first card based rent payment solution focused on affordable housing. Rezzcard, a rent-payment processing service, enables tenants to pay their rent by cash, debit/credit card, money order, or prepaid card at multiple check-cashing and retail locations in their own neighborhood. In addition, residents with a bank account or credit card can make payment online or over the phone.
The Housing Authority operates 6500 rental units in the greater Newark area. Rezzcard has gone live with 800 of the units; deployments of the rent payment card to the entire NHA community will be completed by year end.
“Rezzcard makes life easier for affordable housing tenants by smoothing out the rent paying process,” said Sean Buchanan, Senior Advisor, Operations at Newark Housing Authority. “Our property managers will benefit by greater efficiency in the rent collection process and meeting our objectives for accelerating cash flow and reducing days outstanding.”
The launch of Rezzcard involved educating the tenants about how the new card payment service works. Rezzcard prints and mails the NHA rent statements as well and includes messaging about the bill payment service.
“The service went live in September 2012 and within one month, more than 600 tenants all used Rezzcard. As we expand, we will also use the rental statement as a bulletin for community information. It will be a way of listing events and promoting merchants and services that can benefit the tenants,” stated Mr. Buchanan.
To implement the card based rent payment program, Rezzcard partnered with Pay-O-Matic Corporation, the largest check cashing chain in the New York area. Their team recruited and trained more than 30 local retail locations to become Rezzcard payment centers in the Newark area.
“We started the project by getting feedback from tenants to see what type of program they wanted and were comfortable with,” said Alex Cooper, CEO of Rezzcard and a veteran in payments, walk-in bill pay, and unbanked services.
“Paying rent online or by phone is so much easier than getting a money order, mailing it and wondering if it got there on time,” said a tenant. “With my Rezzcard, I am also able to pay the rent at the same place where I used to buy a money order and pay other bills.”
Many thousands of households living in affordable housing in the U.S. are underbanked and rely on cash-based methods to pay rent and utility bills. Over 70 percent of the apartment rental market in the U.S. –12.74 million units — are rented by households with annual income of less than $50,000. In approximately half of these units, the household income is less than $20,000.
Cooper added, “Rezzcard helps to improve communities and lives of the tenants. Financial literacy and credit building can start with something simple – like paying your rent on time.”

About Rezzcard:
Rezzcard is a rent-payment processing service in the affordable housing industry. The card provides an innovative walk-in rent payment solution, making life simpler for tenants in affordable housing. Rezzcard partners with Pay-O-Matic, a payment processing company.
Contact: Alex Cooper
CEO, Rezzcard
acooper@rezzcard.com
Office: 201-248-5482

ABOUT
About Rezzcard:
Rezzcard is a rent-payment processing service in the affordable housing industry. The card provides an innovative walk-in rent payment solution, making life simpler for tenants in affordable housing. Rezzcard partners with Pay-O-Matic, a payment processing company.
Contact: Alex Cooper
CEO, Rezzcard
acooper@rezzcard.com
Office: 201-248-5482

CONTACT
Arlene Hauben
Scribe Tribe, Public Relations
305-466-1122
arlene.hauben@gmail.com
http://scribetribe.com

###