TABLE OF CONTENTS

Overview: Integrated Third-Party Payment Processing

PropertyBoss partners with Vantage Payment Services to provide secure electronic payment processing for your business.

  • Vantage is a sister company to PropertyBoss within the Inhabit family of brands. Inhabit owns and supports PropertyBoss, Vantage, and several other property management software solutions.
  • Inhabit:https://inhabit.com


What Is Vantage, and Why Are They Requesting This Information?

Vantage serves as PropertyBoss's third-party electronic payment processor. They are responsible for securely processing and transferring funds for:

  • Resident rent payments
  • Resident fee payments
  • Owner distributions received through owner portals
  • Other electronic payment transactions initiated through PropertyBoss

Because Vantage manages the actual movement of funds, they must comply with federal banking regulations, payment network requirements, and fraud prevention standards. As part of this responsibility, they are required to verify both your business and the bank account associated with payment processing before an account can be activated. The information requested during setup is used solely to satisfy these regulatory and security requirements.


Knowledge-Based Authentication (KBA)

Knowledge-Based Authentication (KBA) is a standard identity verification process widely used throughout the financial industry. This verification step helps:

  • Confirm that the individual completing the application is authorized to act on behalf of the business
  • Protect your company from fraud and unauthorized payment activity
  • Meet banking and regulatory compliance requirements


Important Information

  • Vantage does not receive your full credit report.
  • Information provided during KBA is used only for identity verification.
  • Your information is not shared for marketing purposes.


Banking Information Requirements

Vantage requires banking information to:

  • Deposit funds collected from residents and owners
  • Debit applicable processing fees
  • Verify ownership of the account
  • Ensure funds are routed accurately and securely

All banking information is encrypted and used exclusively for payment verification, settlement, and compliance purposes.


Secure Bank Verification Through Finicity

To verify bank ownership and account details, Vantage utilizes Finicity, a trusted financial data provider used by many major financial institutions.


Key Things to Know

  • Your online banking credentials are never visible to PropertyBoss or Vantage.
  • Vantage does not store your banking username or password.
  • The connection is read-only and cannot be used to move money.
  • This process replaces manual bank verification methods.
  • Electronic verification helps reduce setup delays and fraud risk.

Using Finicity allows Vantage to securely confirm that the bank account belongs to your organization and is eligible for payment processing.


How Is My Information Used?

Information collected during the application process is used exclusively for:

  • Payment processing
  • Identity verification
  • Fraud prevention
  • Banking compliance requirements
  • Regulatory reporting obligations

Your information is never sold or shared for advertising, solicitation, or other non-payment-related purposes.


Why Is This Process Required?

Vantage must complete these verification steps to comply with:

  • Federal banking regulations
  • Payment network requirements
  • Anti-Money Laundering (AML) regulations
  • Know Your Customer (KYC) requirements
  • Fraud prevention and risk management standards

Without completing the required verification process, Vantage is legally unable to activate electronic payment processing services.


Summary

While the verification process may seem extensive, these requirements exist to protect all parties involved in electronic payment processing. These measures help:

  • Protect your funds
  • Verify business ownership
  • Prevent fraud and unauthorized transactions
  • Ensure secure and compliant payment processing
  • Facilitate timely payment activation

PropertyBoss does not store, manage, or control the sensitive information collected during this process. Information is submitted directly to Vantage and its secure verification partners for the sole purpose of establishing and maintaining electronic payment processing services.