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Rezzcard, a provider of payments services for tenants in affordable housing, has teamed with processor JetPay Corp. to offer a Visa-branded prepaid card, called the MAC card, as well as a mobile app, to tenants living in public, Section 8, tax-credit-subsidized, and workforce-housing developments.
The Rezzcard app enables users to check balances and pay rent and other bills, Rezzcard says. JetPay, which is providing the payment-processing services, will integrate Rezzcard into its enrollment and prepaid processing system.
\”Consumers will be able to check their balances 24/7, and because it is a prepaid card, users will not be burdened with the usual high fees associated with account overdrafts, minimum balances, and money transfers,” Bipin Shah, JetPay chairman and chief executive, said in a press release. A company controlled by long-time payments-industry veteran Shah acquired JetPay in 2012.
Rezzcard says it and JetPay will market the MAC card to public-housing authorities and other multifamily-property managers.
Rezzcard users can make their rent payments at a walk-in location or online. They can also load the card online using a bank account or payment card. Tenants using cash for rent payments pay a $2 fee per transaction. There is no fee to pay with Rezzcard, but users pay $2 per cash load at a walk-in location.
Funds for the MAC card can be loaded into the account via direct deposit, a bank-account transfer, Green Dot cash deposit, or with an approved check, Rezzcard says. Users can make cash withdrawals from ATMs, too.
