Payment Processing Setup | Enrollment
Setting up a merchant account with Rentec Direct is very easy. We've taken all the steps to integrate with the banking system, ACH transaction network and credit/debit card processors. Below you'll find helpful tips and instructions to enroll.
This article provides the following information as it relates to applies to Merchant Accounts:
- Merchant Account Setup Tips
- Requirements for Merchant Accounts
- Create Your Rentec Direct Website
- Merchant Enrollment Steps
- Frequently Asked Questions
We've included this helpful video that takes you through the steps of applying for a merchant account so you can accept online payments from renters as well as pay owners and vendors. Step by step instructions are written out below.
Online Payment Processing Setup | Rentec Direct Training Series from Rentec Direct on Vimeo.
Note: If you came to this article looking for information on how to convert your money order, personal check, and cash-paying tenants to a solution that eliminates in-house processing, we offer a solution for that as well. Information on electronic Cash payment tools can be found here: Electronic Rent Collection For Cash Paying Tenants
Merchant Account Setup Tips
We want to help you make sure transactions are processed on the correct account. Before applying for a merchant account:
- Add the Bank Account with the Account and Routing Numbers to your Rentec Direct account. If the Bank Account has not been added to your Rentec Direct account, click this link to learn more about how to Add Banking Ledgers
- Verify your phone number in your Settings, Contact Info. For security purposes, once a merchant account is approved, csgForte may call the admin phone number in your Rentec Direct account to verify the merchant account for continued access.
Requirements for Merchant Accounts
Applying for a merchant account is a quick process, and our merchant processing partner, CSG Forte, just has a couple of requirements for applicants. Each applicant must have:
- A website
- A physical office address
- A business-style checking account
Any application submitted without this information will not be processed.
Create Your Rentec Direct Website
If you do not have your own website, Follow the steps below to activate the website included with your Rentec Direct account.
In your Rentec Direct account:
- Click on Settings
- Under Program, click on Website & Branding
- At the bottom of the page, create and enter a unique name in the Web Address field
- Click on Save Draft
Note: Those are the only two necessary steps to activate your web address for the purpose of applying for online payment processing.
Learn more about Building Your Own Enhanced Website
Merchant Enrollment Steps
There are just two quick steps to get started with online applications:
- Complete a Rentec Direct agreement
- Complete an application with csgForte
In your Rentec Direct account:
- Click on Settings
Under Financial, click on Online Payments
System Note: If you are in your two-week free trial, you will be given the option to upgrade your account.
Complete Step 1 - the Online Payment Agreement with Rentec Direct. The agreement can either be signed electronically or printed, signed and returned
Tip: The electronic agreement will walk you through the steps automatically and is the quickest option.
- Complete Step 2 - the CSG Forte Merchant account application. The application will provide the following options:
- ACH only -- If you choose ACH only and decide later to add credit/debit card processing, you will be required to complete a new application at that time.
- ACH + CC/Debit Card (credit and debit card) -- If you plan to accept application fees and/or allow your tenants to pay by credit/debit cards, use the ACH + CC option. Once approved if you would like to allow card transactions for application fees, but not rent payments, you can select the settings.
Notes:
- Most merchant applications get approved the same day; then set up within Rentec by the following business day.
- Once approved, visit: Payment Processing Settings | Preference to set your online payment defaults
Frequently Asked Questions
Q) Do I need to have a business checking account to have a merchant account?