Priority Technology, Yapstone form real estate payments partnership
Priority Technology Holdings Inc. and Yapstone Inc. have announced a partnership to create a real estate payments firm, built upon the former company's previous acquisitions of RadPad and LandlordStation.
Priority, an Alpharetta, Georgia-based provider of merchant acquiring and commercial payment solutions, will own a majority stake in the partnership and control management and day-to-day operations. The company will also provide critical marketing and sales support to the firm, through its Priority Real Estate Technology business.
Yapstone will provide debit and credit processing to the partnership, and will provide its real estate payment processing technology to the new entity.
"The Priority Real Estate Technology offerings provide a whole suite of payment solutions to the open market, covering everything from tenant rent payments and security deposits via web/mobile to full commercial payment solutions for real estate developers, landlords and property managers via our proprietary AP automation solutions and web-enabled services," Tom Priore, chairman and CEO of Priority Technologies, said via email.
He said the platform can stand alone or integrate with property management systems. He said the business model contemplates a number of different monetization opportunities, including interchange-based payment processing to software as a service to platform as service.