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Rental Agents are loving the PayProp and Ozow Instant EFT integration.

Paying the rent has never been easier, faster or more convenient, thanks to South Africa’s leading rental payment platform PayProp and its latest technology partnership with Ozow, the instant electronic fund transfer (EFT) provider that has taken the market by storm.

The dream combination of Ozow’s cutting-edge instant EFT technology and PayProp’s unique pre-reconciled payments makes settling the rent quicker and simpler than ever – whilst using the same bank-grade security PayProp is known and trusted for.

Trusted track records

The companies’ track records speak for themselves:

  • Since its launch in 2004, PayProp has processed over R66 billion in transactions in SA alone.
  • Ozow, in turn, has processed millions in consumer transactions as a trusted provider to big-name brands like Uber, Vodacom and Takealot.

As can be expected, the companies’ partnership has taken off just as quickly. In the first three months since launching instant EFT as a payment option via its Tenant Portal, PayProp reports millions in rent being paid in this way.

Getting started

Getting started with Ozow – which is available to all PayProp-powered estate agencies – could not be easier. Once enabled by the agency, tenants simply select Ozow as their payment option on the PayProp Tenant Portal.

After entering the amount they need to pay, it’s just a few simple steps to complete payment, whereby the payer will select their bank, follow a two-factor authentication process (bank-specific) as an extra layer of security, and select the account from which they would like to make payment. Ozow then provides instant notification that payment has been made, requiring no proof of payment, which makes this form of payment faster than a traditional bank transfer.

What’s more, the money cannot go missing as the tenant does not need to enter the agency’s bank details or a reference number – it’s all done automatically through Ozow. As a result, tenants can be confident agents have received the rent and know who made the payment.

Tenant advantages

Ozow makes paying the rent easy for all South Africans, as they only need a mobile phone and South African bank account. No need to fiddle with agency account numbers, references, apps, cash or cheques that can be lost or stolen.

With instant payment, even if the tenant only pays on the day the rent is due, they can avoid any late fees that could be caused by slow bank transfers.

Agent benefits

PayProp and Ozow’s collaboration also helps to take the pain out of reconciling rental payments.

When a tenant pays with Ozow, the rent is automatically reconciled to the right tenant and property in PayProp. Once the money is in the agency’s trust account, agents can collect their commission and pay the landlord their share, safe in the knowledge that the money cannot be from anyone else but the tenant.

Secure and trusted by the brands you trust

With more than 6 years in the market, South Africans are using Ozow to pay millions of Rands to big brands such as Mr Price, Flysafair and Dischem, in place of traditional bank transfers and credit card payments.

Ozow securely complies with the stringent Payment Card Industry Data security standard used by Visa, Mastercard and American Express – ensuring your financial details are safe.

To see how Ozow can benefit your rental business, simply enable payments through Ozow in your PayProp settings and let your tenants know about this easy, new way to instantly pay the rent.

To learn more about PayProp, visit

www.payprop.co.za

 

PayProp

 

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