BERWYN, Pa. and ENGLEWOOD, N.J., June
1, 2015 /PRNewswire/ -- JetPay Corporation ("JetPay" )
(NASDAQ: JTPY), a leading provider of debit and credit card
processing, payroll/HR/TLM and prepaid card services,
(www.jetpay.com) and Rezzcard (www.rezzcard.com) are partnering to
provide a broad range of electronic payment options to tenants of
multifamily affordable housing properties.
Working with JetPay's Card Services team, Rezzcard will offer
MACĀ®, a Visa-branded prepaid debit card, and Rezzcard mobile app,
to tenants nationwide in public, Section 8, tax credit subsidized
and workforce housing developments. Currently, households
earning less than $50,000 in annual
income comprise 70 percent of all multifamily rental housing
according to the National Multifamily Housing Council's tabulations
of the 2012 & 2013 American Community Survey microdata.
With just one tap on the Rezzcard mobile app, the MAC Visa
prepaid card will allow residents to pay their rent, as well as
other bills, easier and with significant savings as compared to
using check cashing agencies, money orders, and other third-party
payment methods.
"Our partnership with Rezzcard will provide many benefits to
families and individuals in low- and moderate-income households,"
said Bipin Shah, chairman and chief
executive officer of JetPay. "Consumers will be able to check their
balances 24/7, and because it is a prepaid card, users will not be
burdened with the usual high fees associated with account
overdrafts, minimum balances, and money transfers."
The MAC Visa prepaid card allows users to load funds via direct
deposit, a bank account transfer, Green Dot cash deposit, or an
approved check directly from a smartphone with Ingo Money. Cash withdrawals can be made from
any ATM or wherever Visa debit cards are accepted. JetPay
will also provide payment processing services for Rezzcard.
"Rezzcard will be integrated directly into JetPay's enrollment
and prepaid processing platform allowing residents to easily enroll
for the card via our website or call center," said Alex Cooper, founder and chief executive officer
of Rezzcard. "Together, Rezzcard and JetPay are creating the first
electronic payment card for low-income households to process a
no-fee rent payment directly to their property managers."
"Affordable housing tenants have enough to worry about without
the high fees and burdensome process that comes with money orders,
payday loans and other rent payment solutions. The MAC Visa prepaid
card offers a low-cost, convenient alternative with benefits for
both tenants and property managers," said Ron Moelis, founding member of the New York State Association for Affordable
Housing and CEO and founding partner of L+M Development
Partners.
Rezzcard and JetPay will work together in marketing the new MAC
Visa prepaid card service to public housing authorities and other
multifamily property managers across the country. For more
information, contact Rezzcard at info@rezzcard.com or (800)
342-7374.
About JetPay Corporation
JetPay Corporation, based in Berwyn,
PA, is a leading provider of vertically integrated solutions
for businesses including card acceptance, processing, payroll,
payroll tax filing and other financial transactions. JetPay
provides a one vendor solution for payment services, debit and
credit card processing, ACH services, and payroll and tax
processing needs for businesses throughout the United States.
The Company also offers low-cost payment choices for the employees
of these businesses to replace costly alternatives. The
Company's vertically aligned services provide customers with
convenience and increased revenues by lowering payments-related
costs and by designing innovative, customized solutions for
internet, mobile, and cloud-based payments. Please visit
www.jetpay.com for more information on what JetPay has to
offer or call 866-4JetPay (866-453-8729).
About Rezzcard
Founded in 2010 and headquartered in Englewood, N.J., Rezzcard (www.rezzcard.com),
is the first financial services platform designed exclusively for
affordable and workforce housing. Its mission is to transform how
tenants make their rent payments in order to improve the
communities and lives of the tenants it serves. By delivering the
value of efficient electronic payments and mobile communication
solutions, Rezzcard can reduce costs and provide greater
convenience to property managers and residents.
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visit:http://www.prnewswire.com/news-releases/rezzcard-and-jetpay-collaborate-to-offer-the-first-electronic-payment-card-allowing-tenants-of-affordable-housing-to-pay-rent-and-bills-300091252.html
SOURCE Rezzcard; JetPay Corporation