Paying Rent with American Express
Entrata has made it easy for ResidentPay users to offer American Express (AMEX) as a payment option for residents.
The AMEX payment option has been enabled by default upon the May 27 rollout for all Entrata partners that have card payments enabled at their properties. Our agreements for payments are not card or brand-specific, so this new payment option will not require additional forms or signatures.
ResidentPay users are not required to activate credit card payment options, but enough have chosen to accept the option that it has become a standard in the industry.
Credit card payment processing rates are not affected; AMEX payments have the same rates as other card types. Also, whether properties are currently passing credit card fees on to the resident or absorbing them at the property, AMEX payments will be processed consistently with other credit card offerings.
Properties are not required to absorb the cost of AMEX payments, although recently many have chosen to do so to help keep delinquencies down. For properties that are already using ResidentPortal, the resident’s experience remains the same. Now, they can see AMEX as a new payment option.