Visa acceptance for property managers

Accepting electronic payments with Visa makes a lot of sense for property owners and managers. Unlike cheques, Visa transactions are settled and processed quickly. Moreover, card payments are preferred by tenants, making it a true win-win¹. Merchants that accept Visa are guaranteed payments (as long as they adhere to simple authorisation rules), usually within 24 to 48 hours. In comparison, it can take up to five days to receive payment from cheques.

By accepting Visa, you make it easier for tenants to pay you. Plus, you enjoy a host of benefits for your business, including:

Improved cash flow. Cheques take time, both in transit and to post. Visa payments are immediate, so funds become available faster.

Savings in time and money. When customers pay with Visa, you never have to worry about returned cheques. Plus, you save the time you spend processing cheques. A 2012 study found that 69% of US businesses surveyed that accept payment cards saw improvement in some area of their cash management process².

Improved customer satisfaction and loyalty. Tenants may want to pay with cards. Your competitors may already be offering this option.

Ability to help tenants earn rewards. Tenants enrolled in rewards programmes (miles or points) can earn rewards faster when they make payments with Visa.

¹ Source: Purchase PCE from BEA, Nilson #939, SEC Filings for publicly held companies

² Source: 2012 Visa Small Business Cash Management Survey

Streamline recurring payments

Another advantage offered by Visa acceptance is the ability to set up recurring payments, which can simplify how you receive monthly payments. Your acquiring bank can enrol you in Visa Account Updater (VAU), a service that enables the secure electronic exchange of updated account information automatically when a tenant’s card information changes.

Learn about Visa Account Updater

Invested in the future of property management

Our ongoing commitment to safe, reliable transactions is just one way that Visa supports property managers; with goals to attract new tenants and improve their operations. Visa also innovates around new products and technologies to broaden available payment options. These include initiatives around mobile payments, Visa Checkout our digital payment service and chip cards for extra security. As the payment landscape evolves, you can count on Visa to give your business new and better ways of handling payments that tenants will appreciate too.

Visa Checkout

Visa Chip Cards