SlideShare a Scribd company logo
1 of 31
Download to read offline
Payments – Then, Now, and in the Future
Speaker Name 
• Ben Truehart is the Senior Vice President at PayLease, one of 
the nation’s leading e-payment providers catering to the 
property management industry. He has over 10 years of 
experience in the payments and property management 
industries. 
• Ben is a frequent speaker and guest panelist at events catering 
to property management professionals and has presented at 
dozens of conferences over the past few years. He is also a 
regular speaker for PayLease’s monthly webinar series that 
addresses hot topics in the property management industry. 
• Ben holds a degree in Advertising Management and Marketing 
from Drake University along with a MBA from the University of 
Iowa. Prior to joining PayLease, Ben worked for CDS Global, a 
subsidiary of the Hearst Corp, where he was a Product & 
Marketing Manager. 
Payments – Then, Now, and in the Future 
Speaker 
Ben Truehart
Agenda 
Section 
One 
•Overview 
•More 
• Still More 
Section 
Two 
• Then & Now 
•Overview 
Section 
Three 
•Overview 
Section 
Four 
•Overview 
Payments – Then, Now, and in the Future 
• What it Means to You 
• Preparing for the Future 
• Conclusion
Then & Now 
Payments – Then, Now, and in the Future
Oh how far we’ve come… 
• The beginning: Barter 
• 9000 BC: Cattle 
• 1200 BC: Cowrie Shells 
• 500 BC: Metal Coins 
• 806 AD: Chinese Paper Money 
• 1661 AD: Bank Notes 
• 1785 AD: The US Dollar 
• 1950 AD: Diners Club Card 
• 1958 AD: American Express and Bank Americard (VISA) 
• 1997 AD: First payment made with a cell phone 
• 2009 AD: Bitcoin introduced 
Payments – Then, Now, and in the Future
How do we pay for stuff today? 
Payment Types 
Currency Account-based Credit 
Currency Credit 
Payments – Then, Now, and in the Future
The Internet: A Game-Changer 
Though payment methods remain the same, 
the internet has changed the payment types we select 
Payments – Then, Now, and in the Future
Smart Phones 
• The International Data Corporation predicts that by 
2015 the Internet will be accessed more often through 
mobile devices than through PCs 
• The number of smartphone 
users is currently estimated 
at 163.9 Million and is 
projected to be 209.7 
Million by 2017 
• Statista 2014 
52% 
Payments – Then, Now, and in the Future 
41% 
3% 
2% 
2% 
Android 
Apple 
Blackberry 
Windows 
Other 
Source: comScore 2014
Checks are Dying 
16 
9 
18 
16 
14 
12 
10 
8 
6 
4 
2 
0 
2013 2014 2015 2016 2017 2018 
Billions of Dollars 
Forecast: Check Transactions - US 
Source: Federal Reserve, Business Intelligence012 
CAGR= -10.8% 
Payments – Then, Now, and in the Future
Cash is Fading 
$1,340 
$1,440 
$1,420 
$1,400 
$1,380 
$1,360 
$1,340 
$1,320 
$1,300 
2013 2014 2015 2016 2017 2018 
Billions of Dollars 
Forecast: US Cash Transaction Volume 
Source: Federal Reserve, Business Intelligence012 
Payments – Then, Now, and in the Future
For the First Time, Consumers are Using 
Debit and Credit More Often than Cash 
40% 
US Number and Value of Consumer Payments 
By instrument type share of total 
42% 
7% 7% 
4% 
14% 
34% 
19% 
27% 
5% 
45% 
40% 
35% 
30% 
25% 
20% 
15% 
10% 
5% 
0% 
Cash Credit and Debit Check Online 
Transfer/Bill Pay 
Other 
Number of Payments 
Value of Payments 
Source: Federal Reserve, Business Intelligence, April 2014 
Payments – Then, Now, and in the Future 
Percentage of Payments
The Winners and Losers 
Payments – Then, Now, and in the Future
It’s all about Channels 
Payments – Then, Now, and in the Future 
Retail store 
Mail 
Phone 
Online 
Peer-to-Peer
Video Killed the Radio Star 
Payments – Then, Now, and in the Future 
61% 
56% 
51% 
47% 
38% 
34% 
31% 30% 
26% 
23% 
13% 
16% 
22% 
24% 
35% 
39% 
42% 
44% 45% 
50% 
70% 
60% 
50% 
40% 
30% 
20% 
10% 
0% 
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 
Percent of Bill Payments/Month 
Check vs. Online Payments 
Check Payment 
Online Payment 
2011 Consumer Trends Survey, 
Fiserv Inc., 2011
Channel: Consumer’s Choice 
Online Bill Payment Channels 
Biller Direct Online Banking Alternative 
Payments – Then, Now, and in the Future
What Impacts our Channel Selection? 
Biller Direct 
• Control & Timing 
• More Payment Types 
Bank Pay 
• Consolidation 
• Financial Management 
Checks Online Banking Biller Direct 
Payments – Then, Now, and in the Future
Trends – Biller Direct vs. Bank Bill Pay 
Payments – Then, Now, and in the Future 
15.9 
18.8 
27.2 
31.4 
41.0 
44.8 45.7 46.6 
48.0 
53.4 
11.7 
14.4 
15.3 
17.9 
26.3 
28.2 
30.0 
32.6 
36.4 
40.5 
60.0 
50.0 
40.0 
30.0 
20.0 
10.0 
0.0 
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 
Millions of Households Adopting Service 
Biller Direct vs Online Banking 
Biller Direct 
Online Billing 
2011 Consumer Trends Survey, 
Fiserv Inc., 2011
Bill Payments in 2013 
• 74% of households pay bills via biller direct or through 
online banking 
• % of households 
paying bills with checks 
drops another 8% 
• Limited overlap 
between online 
bankers and biller-direct 
loyalists 
74% 
62% 
53% 
48% 
45% 
36% 
24% 
22% 
17% 
16% 
16% 
11% 
Payments – Then, Now, and in the Future 
Online (biller or financial institution) 
Online at biller site 
Check 
Auto-Debit (ACH) 
With a debit or credit card 
Online at a financial institution 
website 
Both biller and financial institution 
site 
In person retailer location 
By calling biller 
Using a mobile phone 
In person at a check cashing, 
convenience or grocery store 
Online through a non-banking 
website 
Sixth Annual Billing Household Survey, 
Fiserv Inc., 2013
What it Means to You 
Payments – Then, Now, and in the Future
Annual Survey – Benchmarking 
• Purpose: To serve as the property management industry’s first 
benchmark study regarding biller direct online payment 
adoption 
• Methodology: 
• 2014: Year 3 
• Survey and results tabulation completed by third party research firm 
(New Heights Research) 
• Master list created; 
Sample of 585 management 
companies were surveyed 
• Sample was segmented by 
portfolio type (HOA, SF and MF) 
and unit count (100-500, 501-1500, etc.) 
Payments – Then, Now, and in the Future
72% 
77% 
83% 
67% 
69% 
74% 
67% 
75% 
79% 
80% 
84% 
91% 
95% 
90% 
85% 
80% 
75% 
70% 
65% 
60% 
2012 2013 2014 
Percentage accepting online payments 
HOA firms by size accepting online payments 
5000+ units managed 
Payments – Then, Now, and in the Future 
Source: New Heights Research, 2014 Market Survey 012 
Total HOA 
1501-5000 units managed 
501-1500 units managed 
HOA E-Payment Adoption
Lot’s of Movement and Change… 
Change in Online Payments Status Among Core HOA 
Payments – Then, Now, and in the Future 
5% 
4% 
18% 
16% 
14% 
12% 
10% 
8% 
6% 
4% 
2% 
2013-2014 
Source: New Heights Research, 2014 Market Survey 012 
8% 
7% 
5% 5% 
10% 
4% 
16% 
0 
4% 
1% 
0% 
501-1500 Units 1501-5000 Units 5000+ Units 
New penetration 
Incremental 
Full Switch 
Reduced # 
Total – 21% 
Total – 17% 
Total – 30%
Offline Payment Options Accepted 
95% 
Offline Payment Types Accepted 
48% 
94% 
12% 
33% 
100% 
90% 
80% 
70% 
60% 
50% 
40% 
30% 
20% 
10% 
0% 
Money Order / 
Cashiers Check 
ACH / Bank Auto 
Deduct 
Personal Check CC Over the Phone Cash 
Payments – Then, Now, and in the Future 
Source: New Heights Research, 2014 Market Survey 012
Online Payment Options Accepted 
61% 
Payment Types Accepted Online 
67% 
72% 
37% 
88% 
85% 
92% 
89% 
7% 
13% 
8% 
0% 
100% 
90% 
80% 
70% 
60% 
50% 
40% 
30% 
20% 
10% 
0% 
All PMCs 500-1500 Units 1501-5000 Units 5000+ Units 
Credit Card 
ACH 
PayPal 
Payments – Then, Now, and in the Future 
Source: New Heights Research, 2014 Market Survey 012
Percent of Payments Made Online 
34% 
32% 
41% 
24% 
45% 
40% 
35% 
30% 
25% 
20% 
15% 
10% 
5% 
0% 
All PMCs 500-1500 Units 1501-5000 
Units 
5000+ Units 
Payment Types Accepted Online 
61% 
67% 
72% 
37% 
88% 85% 
92% 89% 
7% 
13% 
8% 
0% 
100% 
90% 
80% 
70% 
60% 
50% 
40% 
30% 
20% 
10% 
0% 
All PMCs 500-1500 Units 1501-5000 
Units 
5000+ Units 
Credit Card 
ACH 
PayPal 
One Key Driver of E-Pay Utilization 
Payments – Then, Now, and in the Future 
Source: New Heights Research, 2014 Market Survey 012
Resident Adoption by Portfolio Type 
Utilization by Segment – First 12 Months 
16.5% 
11.3% 
4.6% 
Payments – Then, Now, and in the Future 
18.0% 
16.0% 
14.0% 
12.0% 
10.0% 
8.0% 
6.0% 
4.0% 
2.0% 
0.0% 
2009 2010 2011 2012 2013 2014 
Single Family 
Multi-Family 
HOA 
Source: PayLease Admin012
Preparing for the Future 
Payments – Then, Now, and in the Future
The Future 
MAKE IT EASY 
Payments – Then, Now, and in the Future
4 Recommendations 
1. Optimize your Websites and Portals 
• Mobile Friendly (optimized or responsive) 
• App w/ common tools (e.g. e-pay, maintenance requests, etc.) 
2. Statement Enhancements 
• E-Statements 
• Mobile billing 
• QR codes / SSO (single sign-on) 
3. Online Banking Integration 
• Work with your banking partner to connect with online banking platforms 
(MasterCard RPPS, CheckFree, etc.) 
4. Set a Goal for Coupon Book Independence! 
Payments – Then, Now, and in the Future
This presentation was given at the 2014 CAMfire 
Conference by TOPS Software. CAMfire is an 
educational gathering of Community Association 
Management Professionals and TOPS Software 
users. 
To learn more about CAMfire, visit 
www.camfireconference.com. 
For mope community association management 
information, subscribe to 
http://camblog.topssoft.com 
Defining Your Management Company
Condo & HOA Payments: then and now

More Related Content

What's hot

The Future of Financial Services
The Future of Financial ServicesThe Future of Financial Services
The Future of Financial ServicesFrenchWeb.fr
 
Mobile Banking Webinar
Mobile Banking WebinarMobile Banking Webinar
Mobile Banking WebinarMax Freiert
 
Banking On Mobile - Getting Ready for 2016
Banking On Mobile -  Getting Ready for 2016Banking On Mobile -  Getting Ready for 2016
Banking On Mobile - Getting Ready for 2016Swrve_Inc
 
World of digital banking v 2.0
World of digital banking v 2.0World of digital banking v 2.0
World of digital banking v 2.0Muthu Siva
 
2016 China Financial Industry Trends and Outlook
2016 China Financial Industry Trends and Outlook2016 China Financial Industry Trends and Outlook
2016 China Financial Industry Trends and OutlookKapronasia
 
The future of banking
The future of bankingThe future of banking
The future of bankingBarbara Biro
 
Expectations & Experiences: Household Finances
Expectations & Experiences: Household FinancesExpectations & Experiences: Household Finances
Expectations & Experiences: Household FinancesFiserv
 
Infographic: The Mobile Bill Payment Wave
Infographic: The Mobile Bill Payment WaveInfographic: The Mobile Bill Payment Wave
Infographic: The Mobile Bill Payment WaveFiserv
 
The Future of Bank Branches Coordinating Physical with Digital
The Future of Bank Branches Coordinating Physical with DigitalThe Future of Bank Branches Coordinating Physical with Digital
The Future of Bank Branches Coordinating Physical with DigitalCapgemini
 
Hoffmeyer - PayPal Case Study - BL S2 2016
Hoffmeyer  - PayPal Case Study - BL S2 2016Hoffmeyer  - PayPal Case Study - BL S2 2016
Hoffmeyer - PayPal Case Study - BL S2 2016Nick Hoffmeyer
 
Kotak bank digital plan
Kotak bank digital planKotak bank digital plan
Kotak bank digital plansubrat bisht
 
Business plan - Mobile Payment Application
Business plan - Mobile Payment ApplicationBusiness plan - Mobile Payment Application
Business plan - Mobile Payment ApplicationPlan Writers
 
Innovation in bank payment systems and related services among selected commer...
Innovation in bank payment systems and related services among selected commer...Innovation in bank payment systems and related services among selected commer...
Innovation in bank payment systems and related services among selected commer...Alexander Decker
 
2012 China Financial Industry Trends and Outlook
2012 China Financial Industry Trends and Outlook2012 China Financial Industry Trends and Outlook
2012 China Financial Industry Trends and OutlookKapronasia
 
CH&Co-eYeka-Misys Digital Whitepaper 2015
CH&Co-eYeka-Misys Digital Whitepaper 2015CH&Co-eYeka-Misys Digital Whitepaper 2015
CH&Co-eYeka-Misys Digital Whitepaper 2015mchaille
 
Is Retail Ready for a Cashless Society?
Is Retail Ready for a Cashless Society?Is Retail Ready for a Cashless Society?
Is Retail Ready for a Cashless Society?Vend
 
1-to-1 Banking in a Digital World
1-to-1 Banking in a Digital World1-to-1 Banking in a Digital World
1-to-1 Banking in a Digital WorldAlison Berman
 
Consumer Awareness of Credit Scores
Consumer Awareness of Credit ScoresConsumer Awareness of Credit Scores
Consumer Awareness of Credit ScoresFiserv
 
Evans presentation on igniting mobile payments
Evans presentation on igniting mobile payments Evans presentation on igniting mobile payments
Evans presentation on igniting mobile payments Market Platform Dynamics
 

What's hot (20)

The Future of Financial Services
The Future of Financial ServicesThe Future of Financial Services
The Future of Financial Services
 
Mobile Banking Webinar
Mobile Banking WebinarMobile Banking Webinar
Mobile Banking Webinar
 
Banking On Mobile - Getting Ready for 2016
Banking On Mobile -  Getting Ready for 2016Banking On Mobile -  Getting Ready for 2016
Banking On Mobile - Getting Ready for 2016
 
World of digital banking v 2.0
World of digital banking v 2.0World of digital banking v 2.0
World of digital banking v 2.0
 
2016 China Financial Industry Trends and Outlook
2016 China Financial Industry Trends and Outlook2016 China Financial Industry Trends and Outlook
2016 China Financial Industry Trends and Outlook
 
The future of banking
The future of bankingThe future of banking
The future of banking
 
Expectations & Experiences: Household Finances
Expectations & Experiences: Household FinancesExpectations & Experiences: Household Finances
Expectations & Experiences: Household Finances
 
Infographic: The Mobile Bill Payment Wave
Infographic: The Mobile Bill Payment WaveInfographic: The Mobile Bill Payment Wave
Infographic: The Mobile Bill Payment Wave
 
Marketing case fiserv
Marketing case fiservMarketing case fiserv
Marketing case fiserv
 
The Future of Bank Branches Coordinating Physical with Digital
The Future of Bank Branches Coordinating Physical with DigitalThe Future of Bank Branches Coordinating Physical with Digital
The Future of Bank Branches Coordinating Physical with Digital
 
Hoffmeyer - PayPal Case Study - BL S2 2016
Hoffmeyer  - PayPal Case Study - BL S2 2016Hoffmeyer  - PayPal Case Study - BL S2 2016
Hoffmeyer - PayPal Case Study - BL S2 2016
 
Kotak bank digital plan
Kotak bank digital planKotak bank digital plan
Kotak bank digital plan
 
Business plan - Mobile Payment Application
Business plan - Mobile Payment ApplicationBusiness plan - Mobile Payment Application
Business plan - Mobile Payment Application
 
Innovation in bank payment systems and related services among selected commer...
Innovation in bank payment systems and related services among selected commer...Innovation in bank payment systems and related services among selected commer...
Innovation in bank payment systems and related services among selected commer...
 
2012 China Financial Industry Trends and Outlook
2012 China Financial Industry Trends and Outlook2012 China Financial Industry Trends and Outlook
2012 China Financial Industry Trends and Outlook
 
CH&Co-eYeka-Misys Digital Whitepaper 2015
CH&Co-eYeka-Misys Digital Whitepaper 2015CH&Co-eYeka-Misys Digital Whitepaper 2015
CH&Co-eYeka-Misys Digital Whitepaper 2015
 
Is Retail Ready for a Cashless Society?
Is Retail Ready for a Cashless Society?Is Retail Ready for a Cashless Society?
Is Retail Ready for a Cashless Society?
 
1-to-1 Banking in a Digital World
1-to-1 Banking in a Digital World1-to-1 Banking in a Digital World
1-to-1 Banking in a Digital World
 
Consumer Awareness of Credit Scores
Consumer Awareness of Credit ScoresConsumer Awareness of Credit Scores
Consumer Awareness of Credit Scores
 
Evans presentation on igniting mobile payments
Evans presentation on igniting mobile payments Evans presentation on igniting mobile payments
Evans presentation on igniting mobile payments
 

Similar to Condo & HOA Payments: then and now

Banking and Millennial Entrepreneurs
Banking and Millennial EntrepreneursBanking and Millennial Entrepreneurs
Banking and Millennial EntrepreneursBredin, Inc.
 
eCommerce Market Landscaping in India - 2014 and Beyond
eCommerce Market Landscaping in India - 2014 and BeyondeCommerce Market Landscaping in India - 2014 and Beyond
eCommerce Market Landscaping in India - 2014 and BeyondAshwin Gopal Krishna Setty
 
Engagement Banking: Building Relationships Through Online and Mobile
Engagement Banking: Building Relationships Through Online and MobileEngagement Banking: Building Relationships Through Online and Mobile
Engagement Banking: Building Relationships Through Online and MobileMichael McEvoy
 
Samee Zafar Trends in digital commerce
Samee Zafar Trends in digital commerceSamee Zafar Trends in digital commerce
Samee Zafar Trends in digital commerceBogdan Stavrev
 
Zennon Kapron Inside Bitcoins Singapore 2015
Zennon Kapron Inside Bitcoins Singapore 2015Zennon Kapron Inside Bitcoins Singapore 2015
Zennon Kapron Inside Bitcoins Singapore 2015MecklerMedia
 
Opportunities and Disruption in B2B Payments
Opportunities and Disruption in B2B PaymentsOpportunities and Disruption in B2B Payments
Opportunities and Disruption in B2B PaymentsNasreen Quibria
 
Western Union Remittance Strategy
Western Union Remittance StrategyWestern Union Remittance Strategy
Western Union Remittance StrategyMiles Wood
 
How Would You Like to Pay For That? Let the Customer Decide!
How Would You Like to Pay For That? Let the Customer Decide!How Would You Like to Pay For That? Let the Customer Decide!
How Would You Like to Pay For That? Let the Customer Decide!SMB Group
 
Qwikwire investment pitch deck 6 2014
Qwikwire investment pitch deck 6 2014Qwikwire investment pitch deck 6 2014
Qwikwire investment pitch deck 6 2014Gerry Cruz
 
Chipping Away at EMV Myths
Chipping Away at EMV MythsChipping Away at EMV Myths
Chipping Away at EMV MythsExperian
 
e-Commerce Facts and Stats 2015 and Beyond
e-Commerce Facts and Stats 2015 and Beyonde-Commerce Facts and Stats 2015 and Beyond
e-Commerce Facts and Stats 2015 and BeyondEuro IT Group
 
Fiserv Consumer Trends Survey
Fiserv Consumer Trends SurveyFiserv Consumer Trends Survey
Fiserv Consumer Trends SurveyFiserv
 
Harsimran Singh NMIMS Bangalore
Harsimran Singh NMIMS BangaloreHarsimran Singh NMIMS Bangalore
Harsimran Singh NMIMS BangaloreING Vysya Bank
 
Extending the Reach of Islamic Finance via Digital Channels by Raja Teh Maimunah
Extending the Reach of Islamic Finance via Digital Channels by Raja Teh MaimunahExtending the Reach of Islamic Finance via Digital Channels by Raja Teh Maimunah
Extending the Reach of Islamic Finance via Digital Channels by Raja Teh MaimunahJoe Najib
 
Extending the reach of Islamic Finance via Digital Channels
Extending the reach of Islamic Finance via Digital ChannelsExtending the reach of Islamic Finance via Digital Channels
Extending the reach of Islamic Finance via Digital ChannelsRaja Teh Maimunah
 
Factors That Influence The Development Of Mobile Payments
Factors That Influence The Development Of Mobile PaymentsFactors That Influence The Development Of Mobile Payments
Factors That Influence The Development Of Mobile PaymentsAndrea Arias
 
Cashing in on Mobile Payments with a Winning Strategy
Cashing in on Mobile Payments with a Winning StrategyCashing in on Mobile Payments with a Winning Strategy
Cashing in on Mobile Payments with a Winning StrategyPerficient, Inc.
 

Similar to Condo & HOA Payments: then and now (20)

Banking and Millennial Entrepreneurs
Banking and Millennial EntrepreneursBanking and Millennial Entrepreneurs
Banking and Millennial Entrepreneurs
 
Right Channeling
Right ChannelingRight Channeling
Right Channeling
 
eCommerce Market Landscaping in India - 2014 and Beyond
eCommerce Market Landscaping in India - 2014 and BeyondeCommerce Market Landscaping in India - 2014 and Beyond
eCommerce Market Landscaping in India - 2014 and Beyond
 
Promoting Electronic Payments - Mike Radice
Promoting Electronic Payments - Mike RadicePromoting Electronic Payments - Mike Radice
Promoting Electronic Payments - Mike Radice
 
Engagement Banking: Building Relationships Through Online and Mobile
Engagement Banking: Building Relationships Through Online and MobileEngagement Banking: Building Relationships Through Online and Mobile
Engagement Banking: Building Relationships Through Online and Mobile
 
Samee Zafar Trends in digital commerce
Samee Zafar Trends in digital commerceSamee Zafar Trends in digital commerce
Samee Zafar Trends in digital commerce
 
Zennon Kapron Inside Bitcoins Singapore 2015
Zennon Kapron Inside Bitcoins Singapore 2015Zennon Kapron Inside Bitcoins Singapore 2015
Zennon Kapron Inside Bitcoins Singapore 2015
 
Opportunities and Disruption in B2B Payments
Opportunities and Disruption in B2B PaymentsOpportunities and Disruption in B2B Payments
Opportunities and Disruption in B2B Payments
 
Western Union Remittance Strategy
Western Union Remittance StrategyWestern Union Remittance Strategy
Western Union Remittance Strategy
 
How Would You Like to Pay For That? Let the Customer Decide!
How Would You Like to Pay For That? Let the Customer Decide!How Would You Like to Pay For That? Let the Customer Decide!
How Would You Like to Pay For That? Let the Customer Decide!
 
Qwikwire investment pitch deck 6 2014
Qwikwire investment pitch deck 6 2014Qwikwire investment pitch deck 6 2014
Qwikwire investment pitch deck 6 2014
 
Chipping Away at EMV Myths
Chipping Away at EMV MythsChipping Away at EMV Myths
Chipping Away at EMV Myths
 
e-Commerce Facts and Stats 2015 and Beyond
e-Commerce Facts and Stats 2015 and Beyonde-Commerce Facts and Stats 2015 and Beyond
e-Commerce Facts and Stats 2015 and Beyond
 
Fiserv Consumer Trends Survey
Fiserv Consumer Trends SurveyFiserv Consumer Trends Survey
Fiserv Consumer Trends Survey
 
Harsimran Singh NMIMS Bangalore
Harsimran Singh NMIMS BangaloreHarsimran Singh NMIMS Bangalore
Harsimran Singh NMIMS Bangalore
 
Extending the Reach of Islamic Finance via Digital Channels by Raja Teh Maimunah
Extending the Reach of Islamic Finance via Digital Channels by Raja Teh MaimunahExtending the Reach of Islamic Finance via Digital Channels by Raja Teh Maimunah
Extending the Reach of Islamic Finance via Digital Channels by Raja Teh Maimunah
 
Extending the reach of Islamic Finance via Digital Channels
Extending the reach of Islamic Finance via Digital ChannelsExtending the reach of Islamic Finance via Digital Channels
Extending the reach of Islamic Finance via Digital Channels
 
Factors That Influence The Development Of Mobile Payments
Factors That Influence The Development Of Mobile PaymentsFactors That Influence The Development Of Mobile Payments
Factors That Influence The Development Of Mobile Payments
 
Global payments report
Global payments report  Global payments report
Global payments report
 
Cashing in on Mobile Payments with a Winning Strategy
Cashing in on Mobile Payments with a Winning StrategyCashing in on Mobile Payments with a Winning Strategy
Cashing in on Mobile Payments with a Winning Strategy
 

More from TOPS Software

Best Practices for Custom Data Field Setup
Best Practices for Custom Data Field SetupBest Practices for Custom Data Field Setup
Best Practices for Custom Data Field SetupTOPS Software
 
Turn the Page: Mobilized Communication
Turn the Page: Mobilized CommunicationTurn the Page: Mobilized Communication
Turn the Page: Mobilized CommunicationTOPS Software
 
ACH Processing in TOPS [ONE]
ACH Processing in TOPS [ONE]ACH Processing in TOPS [ONE]
ACH Processing in TOPS [ONE]TOPS Software
 
How to Win Clients through Professional Branding
How to Win Clients through Professional Branding How to Win Clients through Professional Branding
How to Win Clients through Professional Branding TOPS Software
 
Going Paperless in Community Association Management
Going Paperless in Community Association ManagementGoing Paperless in Community Association Management
Going Paperless in Community Association ManagementTOPS Software
 
CAMfire 2016 Conference Program
CAMfire 2016 Conference ProgramCAMfire 2016 Conference Program
CAMfire 2016 Conference ProgramTOPS Software
 
Seduce your prospects: Using emotion to evoke a loving response and get assoc...
Seduce your prospects: Using emotion to evoke a loving response and get assoc...Seduce your prospects: Using emotion to evoke a loving response and get assoc...
Seduce your prospects: Using emotion to evoke a loving response and get assoc...TOPS Software
 
Defining your management company
Defining your management companyDefining your management company
Defining your management companyTOPS Software
 
If You Build it They Will Come: Adopting Inbound Marketing in Property Manage...
If You Build it They Will Come: Adopting Inbound Marketing in Property Manage...If You Build it They Will Come: Adopting Inbound Marketing in Property Manage...
If You Build it They Will Come: Adopting Inbound Marketing in Property Manage...TOPS Software
 
Are you winning (or losing) business with social media?
Are you winning (or losing) business with social media?Are you winning (or losing) business with social media?
Are you winning (or losing) business with social media?TOPS Software
 
Practical Advice from Community Association Management Professionals
Practical Advice from Community Association Management ProfessionalsPractical Advice from Community Association Management Professionals
Practical Advice from Community Association Management ProfessionalsTOPS Software
 
Avoiding the annual meeting from hell
Avoiding the annual meeting from hellAvoiding the annual meeting from hell
Avoiding the annual meeting from hellTOPS Software
 
Best Incentives for Retaining Tenants [Infographic]
Best Incentives for Retaining Tenants [Infographic]Best Incentives for Retaining Tenants [Infographic]
Best Incentives for Retaining Tenants [Infographic]TOPS Software
 
The Growth of Community Associations: From passing trend to everyday America ...
The Growth of Community Associations: From passing trend to everyday America ...The Growth of Community Associations: From passing trend to everyday America ...
The Growth of Community Associations: From passing trend to everyday America ...TOPS Software
 
Community Associations by the numbers [Infographic]
Community Associations by the numbers [Infographic]Community Associations by the numbers [Infographic]
Community Associations by the numbers [Infographic]TOPS Software
 
The Key to Productive HOA Board Meetings
The Key to Productive HOA Board MeetingsThe Key to Productive HOA Board Meetings
The Key to Productive HOA Board MeetingsTOPS Software
 
CAMfire Conference — Inform, Inspire, Ignite
CAMfire Conference — Inform, Inspire, IgniteCAMfire Conference — Inform, Inspire, Ignite
CAMfire Conference — Inform, Inspire, IgniteTOPS Software
 
CAM Profitability Conference 03072012
CAM Profitability Conference 03072012CAM Profitability Conference 03072012
CAM Profitability Conference 03072012TOPS Software
 

More from TOPS Software (19)

Best Practices for Custom Data Field Setup
Best Practices for Custom Data Field SetupBest Practices for Custom Data Field Setup
Best Practices for Custom Data Field Setup
 
Turn the Page: Mobilized Communication
Turn the Page: Mobilized CommunicationTurn the Page: Mobilized Communication
Turn the Page: Mobilized Communication
 
ACH Processing in TOPS [ONE]
ACH Processing in TOPS [ONE]ACH Processing in TOPS [ONE]
ACH Processing in TOPS [ONE]
 
How to Win Clients through Professional Branding
How to Win Clients through Professional Branding How to Win Clients through Professional Branding
How to Win Clients through Professional Branding
 
Going Paperless in Community Association Management
Going Paperless in Community Association ManagementGoing Paperless in Community Association Management
Going Paperless in Community Association Management
 
CAMfire 2016 Conference Program
CAMfire 2016 Conference ProgramCAMfire 2016 Conference Program
CAMfire 2016 Conference Program
 
Seduce your prospects: Using emotion to evoke a loving response and get assoc...
Seduce your prospects: Using emotion to evoke a loving response and get assoc...Seduce your prospects: Using emotion to evoke a loving response and get assoc...
Seduce your prospects: Using emotion to evoke a loving response and get assoc...
 
Defining your management company
Defining your management companyDefining your management company
Defining your management company
 
If You Build it They Will Come: Adopting Inbound Marketing in Property Manage...
If You Build it They Will Come: Adopting Inbound Marketing in Property Manage...If You Build it They Will Come: Adopting Inbound Marketing in Property Manage...
If You Build it They Will Come: Adopting Inbound Marketing in Property Manage...
 
Are you winning (or losing) business with social media?
Are you winning (or losing) business with social media?Are you winning (or losing) business with social media?
Are you winning (or losing) business with social media?
 
Practical Advice from Community Association Management Professionals
Practical Advice from Community Association Management ProfessionalsPractical Advice from Community Association Management Professionals
Practical Advice from Community Association Management Professionals
 
Avoiding the annual meeting from hell
Avoiding the annual meeting from hellAvoiding the annual meeting from hell
Avoiding the annual meeting from hell
 
Best Incentives for Retaining Tenants [Infographic]
Best Incentives for Retaining Tenants [Infographic]Best Incentives for Retaining Tenants [Infographic]
Best Incentives for Retaining Tenants [Infographic]
 
The Growth of Community Associations: From passing trend to everyday America ...
The Growth of Community Associations: From passing trend to everyday America ...The Growth of Community Associations: From passing trend to everyday America ...
The Growth of Community Associations: From passing trend to everyday America ...
 
Community Associations by the numbers [Infographic]
Community Associations by the numbers [Infographic]Community Associations by the numbers [Infographic]
Community Associations by the numbers [Infographic]
 
The Key to Productive HOA Board Meetings
The Key to Productive HOA Board MeetingsThe Key to Productive HOA Board Meetings
The Key to Productive HOA Board Meetings
 
CAMfire Conference — Inform, Inspire, Ignite
CAMfire Conference — Inform, Inspire, IgniteCAMfire Conference — Inform, Inspire, Ignite
CAMfire Conference — Inform, Inspire, Ignite
 
TOPS iQ
TOPS iQTOPS iQ
TOPS iQ
 
CAM Profitability Conference 03072012
CAM Profitability Conference 03072012CAM Profitability Conference 03072012
CAM Profitability Conference 03072012
 

Recently uploaded

Evolving Work Trends Require New-age Businesses to Design Thoughtful Workspac...
Evolving Work Trends Require New-age Businesses to Design Thoughtful Workspac...Evolving Work Trends Require New-age Businesses to Design Thoughtful Workspac...
Evolving Work Trends Require New-age Businesses to Design Thoughtful Workspac...GMRAerocityHyderabad
 
3 BHK Flats in Zirakpur for Sale - AJ Estates
3 BHK Flats in Zirakpur for Sale - AJ Estates3 BHK Flats in Zirakpur for Sale - AJ Estates
3 BHK Flats in Zirakpur for Sale - AJ EstatesAJ Estates
 
Anshul Kanvas Wagholi Pune Apartments Brochure.pdf
Anshul Kanvas Wagholi Pune Apartments Brochure.pdfAnshul Kanvas Wagholi Pune Apartments Brochure.pdf
Anshul Kanvas Wagholi Pune Apartments Brochure.pdfsabhyara24
 
Provident Manchester IVC Road Bangalore.pdf
Provident Manchester IVC Road Bangalore.pdfProvident Manchester IVC Road Bangalore.pdf
Provident Manchester IVC Road Bangalore.pdfashiyadav24
 
2 BHK Flats In Zirakpur For Sale - AJ Estates
2 BHK Flats In Zirakpur For Sale - AJ Estates2 BHK Flats In Zirakpur For Sale - AJ Estates
2 BHK Flats In Zirakpur For Sale - AJ EstatesAJ Estates
 
2023 NAR Profile of Home Buyers and Sellers
2023 NAR Profile of Home Buyers and Sellers2023 NAR Profile of Home Buyers and Sellers
2023 NAR Profile of Home Buyers and SellersTom Blefko
 
Top 6 Ways to Stay Stay in Touch and Generate Leads
Top 6 Ways to Stay Stay in Touch and Generate LeadsTop 6 Ways to Stay Stay in Touch and Generate Leads
Top 6 Ways to Stay Stay in Touch and Generate LeadsAaron Stelle
 
AIPL Joy District Sector 88, In Gurgaon.pdf
AIPL Joy District  Sector 88,  In Gurgaon.pdfAIPL Joy District  Sector 88,  In Gurgaon.pdf
AIPL Joy District Sector 88, In Gurgaon.pdfbhattrishabh270
 
SVN Live 3.25.24 Weekly Property Broadcast
SVN Live 3.25.24 Weekly Property BroadcastSVN Live 3.25.24 Weekly Property Broadcast
SVN Live 3.25.24 Weekly Property BroadcastSVN International Corp.
 
Shapoorji Pallonji Codename Evolve Pine Bangalore.pdf
Shapoorji Pallonji Codename Evolve Pine Bangalore.pdfShapoorji Pallonji Codename Evolve Pine Bangalore.pdf
Shapoorji Pallonji Codename Evolve Pine Bangalore.pdfashiyadav24
 
LCAR Unit 13 - The Real Estate Business - 14th Edition Revised
LCAR Unit 13 - The Real Estate Business - 14th Edition RevisedLCAR Unit 13 - The Real Estate Business - 14th Edition Revised
LCAR Unit 13 - The Real Estate Business - 14th Edition RevisedTom Blefko
 
Anshul Uruli Kanchan Pune E-Brochure.pdf
Anshul Uruli Kanchan Pune  E-Brochure.pdfAnshul Uruli Kanchan Pune  E-Brochure.pdf
Anshul Uruli Kanchan Pune E-Brochure.pdfManishSaxena95
 
Presentation of 2023 Results domdev.pptx
Presentation of 2023 Results domdev.pptxPresentation of 2023 Results domdev.pptx
Presentation of 2023 Results domdev.pptxklaudiafilka
 
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedLCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedTom Blefko
 
Mahindra Lifespaces Kandivali East | Expansive spaces for your family
Mahindra Lifespaces Kandivali East | Expansive spaces for your familyMahindra Lifespaces Kandivali East | Expansive spaces for your family
Mahindra Lifespaces Kandivali East | Expansive spaces for your familyaidasheikh47
 
LCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
LCAR Unit 14 - Real Estate Brokerage - 14th Edition RevisedLCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
LCAR Unit 14 - Real Estate Brokerage - 14th Edition RevisedTom Blefko
 
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdfKohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdfmonikasharma630
 
Common House Flipping Mistakes and How to Avoid Them
Common House Flipping Mistakes and How to Avoid ThemCommon House Flipping Mistakes and How to Avoid Them
Common House Flipping Mistakes and How to Avoid ThemHampton Luzak
 
4S Sector 59 In Gurugram | Invest, Nest, Rest
4S Sector 59  In Gurugram | Invest, Nest, Rest4S Sector 59  In Gurugram | Invest, Nest, Rest
4S Sector 59 In Gurugram | Invest, Nest, Restbhattrishabh270
 

Recently uploaded (20)

Evolving Work Trends Require New-age Businesses to Design Thoughtful Workspac...
Evolving Work Trends Require New-age Businesses to Design Thoughtful Workspac...Evolving Work Trends Require New-age Businesses to Design Thoughtful Workspac...
Evolving Work Trends Require New-age Businesses to Design Thoughtful Workspac...
 
3 BHK Flats in Zirakpur for Sale - AJ Estates
3 BHK Flats in Zirakpur for Sale - AJ Estates3 BHK Flats in Zirakpur for Sale - AJ Estates
3 BHK Flats in Zirakpur for Sale - AJ Estates
 
Anshul Kanvas Wagholi Pune Apartments Brochure.pdf
Anshul Kanvas Wagholi Pune Apartments Brochure.pdfAnshul Kanvas Wagholi Pune Apartments Brochure.pdf
Anshul Kanvas Wagholi Pune Apartments Brochure.pdf
 
Provident Manchester IVC Road Bangalore.pdf
Provident Manchester IVC Road Bangalore.pdfProvident Manchester IVC Road Bangalore.pdf
Provident Manchester IVC Road Bangalore.pdf
 
2 BHK Flats In Zirakpur For Sale - AJ Estates
2 BHK Flats In Zirakpur For Sale - AJ Estates2 BHK Flats In Zirakpur For Sale - AJ Estates
2 BHK Flats In Zirakpur For Sale - AJ Estates
 
2023 NAR Profile of Home Buyers and Sellers
2023 NAR Profile of Home Buyers and Sellers2023 NAR Profile of Home Buyers and Sellers
2023 NAR Profile of Home Buyers and Sellers
 
Top 6 Ways to Stay Stay in Touch and Generate Leads
Top 6 Ways to Stay Stay in Touch and Generate LeadsTop 6 Ways to Stay Stay in Touch and Generate Leads
Top 6 Ways to Stay Stay in Touch and Generate Leads
 
AIPL Joy District Sector 88, In Gurgaon.pdf
AIPL Joy District  Sector 88,  In Gurgaon.pdfAIPL Joy District  Sector 88,  In Gurgaon.pdf
AIPL Joy District Sector 88, In Gurgaon.pdf
 
Things to keep in mind while buying property.
Things to keep in mind while buying property.Things to keep in mind while buying property.
Things to keep in mind while buying property.
 
SVN Live 3.25.24 Weekly Property Broadcast
SVN Live 3.25.24 Weekly Property BroadcastSVN Live 3.25.24 Weekly Property Broadcast
SVN Live 3.25.24 Weekly Property Broadcast
 
Shapoorji Pallonji Codename Evolve Pine Bangalore.pdf
Shapoorji Pallonji Codename Evolve Pine Bangalore.pdfShapoorji Pallonji Codename Evolve Pine Bangalore.pdf
Shapoorji Pallonji Codename Evolve Pine Bangalore.pdf
 
LCAR Unit 13 - The Real Estate Business - 14th Edition Revised
LCAR Unit 13 - The Real Estate Business - 14th Edition RevisedLCAR Unit 13 - The Real Estate Business - 14th Edition Revised
LCAR Unit 13 - The Real Estate Business - 14th Edition Revised
 
Anshul Uruli Kanchan Pune E-Brochure.pdf
Anshul Uruli Kanchan Pune  E-Brochure.pdfAnshul Uruli Kanchan Pune  E-Brochure.pdf
Anshul Uruli Kanchan Pune E-Brochure.pdf
 
Presentation of 2023 Results domdev.pptx
Presentation of 2023 Results domdev.pptxPresentation of 2023 Results domdev.pptx
Presentation of 2023 Results domdev.pptx
 
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedLCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
 
Mahindra Lifespaces Kandivali East | Expansive spaces for your family
Mahindra Lifespaces Kandivali East | Expansive spaces for your familyMahindra Lifespaces Kandivali East | Expansive spaces for your family
Mahindra Lifespaces Kandivali East | Expansive spaces for your family
 
LCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
LCAR Unit 14 - Real Estate Brokerage - 14th Edition RevisedLCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
LCAR Unit 14 - Real Estate Brokerage - 14th Edition Revised
 
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdfKohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
Kohinoor Uptown Avenue at Punawale Pune - Brochure.pdf
 
Common House Flipping Mistakes and How to Avoid Them
Common House Flipping Mistakes and How to Avoid ThemCommon House Flipping Mistakes and How to Avoid Them
Common House Flipping Mistakes and How to Avoid Them
 
4S Sector 59 In Gurugram | Invest, Nest, Rest
4S Sector 59  In Gurugram | Invest, Nest, Rest4S Sector 59  In Gurugram | Invest, Nest, Rest
4S Sector 59 In Gurugram | Invest, Nest, Rest
 

Condo & HOA Payments: then and now

  • 1. Payments – Then, Now, and in the Future
  • 2. Speaker Name • Ben Truehart is the Senior Vice President at PayLease, one of the nation’s leading e-payment providers catering to the property management industry. He has over 10 years of experience in the payments and property management industries. • Ben is a frequent speaker and guest panelist at events catering to property management professionals and has presented at dozens of conferences over the past few years. He is also a regular speaker for PayLease’s monthly webinar series that addresses hot topics in the property management industry. • Ben holds a degree in Advertising Management and Marketing from Drake University along with a MBA from the University of Iowa. Prior to joining PayLease, Ben worked for CDS Global, a subsidiary of the Hearst Corp, where he was a Product & Marketing Manager. Payments – Then, Now, and in the Future Speaker Ben Truehart
  • 3. Agenda Section One •Overview •More • Still More Section Two • Then & Now •Overview Section Three •Overview Section Four •Overview Payments – Then, Now, and in the Future • What it Means to You • Preparing for the Future • Conclusion
  • 4. Then & Now Payments – Then, Now, and in the Future
  • 5. Oh how far we’ve come… • The beginning: Barter • 9000 BC: Cattle • 1200 BC: Cowrie Shells • 500 BC: Metal Coins • 806 AD: Chinese Paper Money • 1661 AD: Bank Notes • 1785 AD: The US Dollar • 1950 AD: Diners Club Card • 1958 AD: American Express and Bank Americard (VISA) • 1997 AD: First payment made with a cell phone • 2009 AD: Bitcoin introduced Payments – Then, Now, and in the Future
  • 6. How do we pay for stuff today? Payment Types Currency Account-based Credit Currency Credit Payments – Then, Now, and in the Future
  • 7. The Internet: A Game-Changer Though payment methods remain the same, the internet has changed the payment types we select Payments – Then, Now, and in the Future
  • 8. Smart Phones • The International Data Corporation predicts that by 2015 the Internet will be accessed more often through mobile devices than through PCs • The number of smartphone users is currently estimated at 163.9 Million and is projected to be 209.7 Million by 2017 • Statista 2014 52% Payments – Then, Now, and in the Future 41% 3% 2% 2% Android Apple Blackberry Windows Other Source: comScore 2014
  • 9. Checks are Dying 16 9 18 16 14 12 10 8 6 4 2 0 2013 2014 2015 2016 2017 2018 Billions of Dollars Forecast: Check Transactions - US Source: Federal Reserve, Business Intelligence012 CAGR= -10.8% Payments – Then, Now, and in the Future
  • 10. Cash is Fading $1,340 $1,440 $1,420 $1,400 $1,380 $1,360 $1,340 $1,320 $1,300 2013 2014 2015 2016 2017 2018 Billions of Dollars Forecast: US Cash Transaction Volume Source: Federal Reserve, Business Intelligence012 Payments – Then, Now, and in the Future
  • 11. For the First Time, Consumers are Using Debit and Credit More Often than Cash 40% US Number and Value of Consumer Payments By instrument type share of total 42% 7% 7% 4% 14% 34% 19% 27% 5% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Cash Credit and Debit Check Online Transfer/Bill Pay Other Number of Payments Value of Payments Source: Federal Reserve, Business Intelligence, April 2014 Payments – Then, Now, and in the Future Percentage of Payments
  • 12. The Winners and Losers Payments – Then, Now, and in the Future
  • 13. It’s all about Channels Payments – Then, Now, and in the Future Retail store Mail Phone Online Peer-to-Peer
  • 14. Video Killed the Radio Star Payments – Then, Now, and in the Future 61% 56% 51% 47% 38% 34% 31% 30% 26% 23% 13% 16% 22% 24% 35% 39% 42% 44% 45% 50% 70% 60% 50% 40% 30% 20% 10% 0% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Percent of Bill Payments/Month Check vs. Online Payments Check Payment Online Payment 2011 Consumer Trends Survey, Fiserv Inc., 2011
  • 15. Channel: Consumer’s Choice Online Bill Payment Channels Biller Direct Online Banking Alternative Payments – Then, Now, and in the Future
  • 16. What Impacts our Channel Selection? Biller Direct • Control & Timing • More Payment Types Bank Pay • Consolidation • Financial Management Checks Online Banking Biller Direct Payments – Then, Now, and in the Future
  • 17. Trends – Biller Direct vs. Bank Bill Pay Payments – Then, Now, and in the Future 15.9 18.8 27.2 31.4 41.0 44.8 45.7 46.6 48.0 53.4 11.7 14.4 15.3 17.9 26.3 28.2 30.0 32.6 36.4 40.5 60.0 50.0 40.0 30.0 20.0 10.0 0.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Millions of Households Adopting Service Biller Direct vs Online Banking Biller Direct Online Billing 2011 Consumer Trends Survey, Fiserv Inc., 2011
  • 18. Bill Payments in 2013 • 74% of households pay bills via biller direct or through online banking • % of households paying bills with checks drops another 8% • Limited overlap between online bankers and biller-direct loyalists 74% 62% 53% 48% 45% 36% 24% 22% 17% 16% 16% 11% Payments – Then, Now, and in the Future Online (biller or financial institution) Online at biller site Check Auto-Debit (ACH) With a debit or credit card Online at a financial institution website Both biller and financial institution site In person retailer location By calling biller Using a mobile phone In person at a check cashing, convenience or grocery store Online through a non-banking website Sixth Annual Billing Household Survey, Fiserv Inc., 2013
  • 19. What it Means to You Payments – Then, Now, and in the Future
  • 20. Annual Survey – Benchmarking • Purpose: To serve as the property management industry’s first benchmark study regarding biller direct online payment adoption • Methodology: • 2014: Year 3 • Survey and results tabulation completed by third party research firm (New Heights Research) • Master list created; Sample of 585 management companies were surveyed • Sample was segmented by portfolio type (HOA, SF and MF) and unit count (100-500, 501-1500, etc.) Payments – Then, Now, and in the Future
  • 21. 72% 77% 83% 67% 69% 74% 67% 75% 79% 80% 84% 91% 95% 90% 85% 80% 75% 70% 65% 60% 2012 2013 2014 Percentage accepting online payments HOA firms by size accepting online payments 5000+ units managed Payments – Then, Now, and in the Future Source: New Heights Research, 2014 Market Survey 012 Total HOA 1501-5000 units managed 501-1500 units managed HOA E-Payment Adoption
  • 22. Lot’s of Movement and Change… Change in Online Payments Status Among Core HOA Payments – Then, Now, and in the Future 5% 4% 18% 16% 14% 12% 10% 8% 6% 4% 2% 2013-2014 Source: New Heights Research, 2014 Market Survey 012 8% 7% 5% 5% 10% 4% 16% 0 4% 1% 0% 501-1500 Units 1501-5000 Units 5000+ Units New penetration Incremental Full Switch Reduced # Total – 21% Total – 17% Total – 30%
  • 23. Offline Payment Options Accepted 95% Offline Payment Types Accepted 48% 94% 12% 33% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Money Order / Cashiers Check ACH / Bank Auto Deduct Personal Check CC Over the Phone Cash Payments – Then, Now, and in the Future Source: New Heights Research, 2014 Market Survey 012
  • 24. Online Payment Options Accepted 61% Payment Types Accepted Online 67% 72% 37% 88% 85% 92% 89% 7% 13% 8% 0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% All PMCs 500-1500 Units 1501-5000 Units 5000+ Units Credit Card ACH PayPal Payments – Then, Now, and in the Future Source: New Heights Research, 2014 Market Survey 012
  • 25. Percent of Payments Made Online 34% 32% 41% 24% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% All PMCs 500-1500 Units 1501-5000 Units 5000+ Units Payment Types Accepted Online 61% 67% 72% 37% 88% 85% 92% 89% 7% 13% 8% 0% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% All PMCs 500-1500 Units 1501-5000 Units 5000+ Units Credit Card ACH PayPal One Key Driver of E-Pay Utilization Payments – Then, Now, and in the Future Source: New Heights Research, 2014 Market Survey 012
  • 26. Resident Adoption by Portfolio Type Utilization by Segment – First 12 Months 16.5% 11.3% 4.6% Payments – Then, Now, and in the Future 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% 2009 2010 2011 2012 2013 2014 Single Family Multi-Family HOA Source: PayLease Admin012
  • 27. Preparing for the Future Payments – Then, Now, and in the Future
  • 28. The Future MAKE IT EASY Payments – Then, Now, and in the Future
  • 29. 4 Recommendations 1. Optimize your Websites and Portals • Mobile Friendly (optimized or responsive) • App w/ common tools (e.g. e-pay, maintenance requests, etc.) 2. Statement Enhancements • E-Statements • Mobile billing • QR codes / SSO (single sign-on) 3. Online Banking Integration • Work with your banking partner to connect with online banking platforms (MasterCard RPPS, CheckFree, etc.) 4. Set a Goal for Coupon Book Independence! Payments – Then, Now, and in the Future
  • 30. This presentation was given at the 2014 CAMfire Conference by TOPS Software. CAMfire is an educational gathering of Community Association Management Professionals and TOPS Software users. To learn more about CAMfire, visit www.camfireconference.com. For mope community association management information, subscribe to http://camblog.topssoft.com Defining Your Management Company

Editor's Notes

  1. The International Data Corporation predicts that by 2015 the Internet will be accessed more often through mobile devices than through PCs Mobile Payments, defined as transactions for goods or services made by scanning, tapping, swiping, or texting with a mobile phone at the point of sale, are expected to reach $58 Billion in the US by 2017 according to eMarketer. Gartner estimates these payments will reach $721 Billion worldwide in the same time frame
  2. The number of checks paid declined by 9.2% from 2009 to 2012. Debit card payments showed the largest growth among all types, growing 7.7 % in the same time period. 2013 Federal Reserve Payments Study
  3. Radio communication is established by bringing a chip-enabled smartphone within close proximity to a contactless reader New feature announced with the iPhone 6 and Apple Watch NFC in-store transactions expected to reach $189 Billion in the US by 2018 according to Business Insider Familiar with and ready to engage in mobile payments MasterCard Mobile Payment Readiness Index Score of 42 Second behind only Thailand Global average score was 33.2 Completed EMV migration around 2012 High levels of NFC penetration at the POS 250,000 out of 800,000 POS terminals are equipped with contactless card readers Network infrastructure is ready PayFirma, Test2Pay, 1-Tap for Android, PayPass, payWave Google Android and Apple iOS have a 44% and 37% market share respectively, followed by BlackBerry with 15%.