Moving in, moving out, rent deposits, pet deposits – the list goes on and on when it comes to payments that have to be made via money order or cashier’s check.
Because of wide-spread risk management practices among property management companies, cash equivalent payments are often required for certain situations. Traditional money orders require a resident to obtain this tender at a kiosk, and unlike cashier’s checks, money orders typically have caps on their value, thereby possibly requiring a renter to obtain several money orders to reach the targeted combined value of the payment.
Simplifying Payment Process with MoneyGram
As part of Domuso’s partnership with MoneyGram, residents can now enjoy financial flexibility by making payments via digital money orders from any MoneyGram kiosk.
With over 30,000 kiosks accessible in private and public locations, including national drugstores such as CVS, Domuso residents have the benefit of conveniently sending all types of payments, at any time, without being subjected to paying in-person during the property manager’s office hours.
Advantages of Digital Certified Funds
This type of payment is considered a “digital certified fund” and comes with Domuso’s market-leading built-in risk protections, which includes automatically attributing all payments made with MoneyGram to the correct apartment unit, thus eliminating the need to disclose additional sensitive information as regularly seen with cashier’s checks and paper money orders.
The Bottom Line: There is a Safer Alternative to Paper
Ultimately, paper money orders and similar forms of payments aren’t as safe as they were once believed to be. Repeated incidents of fraud over the last decade have shown that they can easily be stolen and/or tampered. They also require manual processing, leaving them prone to errors and an increase processing time.
If payments go missing or are stolen in the interim, residents would have to hand over another form or paper payment to the property manager while the issue is being resolved. By sending and processing this form of certified digital payments, renters and managers are assured zero risk with Domuso overseeing every element of the transaction, from start to finish.
Domuso’s digital money orders ensures lower liability due to decreased handling, improved data accuracy by eliminating manual payment processing, reduced theft and fraud and immediate payment confirmation.
To learn more about adding MoneyGram-enabled payments and no-risk digital certified funds to your properties, speak to a member of our team to see how Domuso can help move your rent payment technology forward.
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