business payments Equity Trust Company, a provider of financial services, and FinTech Onbe are working together on a project that, according to the companies, would modernize how investors pay real estate fees inside of their self-directed IRAs (IRAs).
“Expense Pass, managed by Onbe on behalf of Equity Trust, eliminates the need for traditional checks and ACH [Automated Clearing House] and delivers a modern, agile disbursement program via virtual and physical cards, reducing the time to deliver funds for Equity Trust real estate investors,” the companies claimed in a news release sent to PYMNTS on Thursday, August 25.
Additionally, property owners may make purchases at retailers and pay for HOA dues, utility bills, property taxes, insurance, repairs, and renovations using the Expense Pass.
Real estate investors can obtain a virtual or physical card that is associated with Apple Pay, Samsung Pay, Venmo, or PayPal and use it to pay contractors and other third parties.
We’re collaborating with Equity Trust to provide its real estate portfolio investors a seamless payment experience, according to Tracy Monson, chief product officer of Onbe. The Expense Pass program has shortened the time it usually takes from up to a week, allowing real estate investors to access their assets more rapidly.
Onbe in the research on “Expanding Payments Choice.”
She added that by allowing transfers to more than 180 countries, her business makes it simpler to manage foreign exchange (FX), cross-border salary access, and payments.
These employers stand out because they guarantee that you have a payment solution and the right contracts in place to accept payments from people in more than 180 countries, according to Monson.
