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ApartmentADDA : Online Payment Gateway for Apartments

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If you live in an Apartment or Villa AND are the Secretary or Treasurer or Chairman or part of the Management Committee, this presentation is for you.

We bring to you - the ApartmentADDA Payment Gateway! The ultimate convenience for Apartment Owners.

If you are living in an Apartment or Villa complex or any housing society, you have to pay monthly or quarterly maintenance bills to your RWA or Society Association. As an apartment resident, you either make this payment through cheque or go through the hassle of adding your association bank account to your online banking account to do NEFT transfer each month.

Payment through cheque is a cumbersome process. ADDA payment gateway is an easy way of making maintenance bill payments through your credit or debit card or netbanking. Its integrated with your online residents portal so you can maintain all your payment history in one place. Also, after making payments you get an instant receipt.

Check out the link here
https://apartmentadda.com/home/features-payment-gateway.php

Published in: Real Estate
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ApartmentADDA : Online Payment Gateway for Apartments

  1. 1. Is a Hassle! CHEQUE Or NEFT PAYING APARTMENT MAINTENANCE BY Is There A Better Way ??!!!
  2. 2. By Mistake Paid Wrong Amount through NEFT. Will have to Pay Late Payment now!! Cheque Book’s Over, have to ask someone the bank details for NEFT.. Paid by NEFT a month back. Still did not get receipt… Problems with NEFT & Cheque Processing: Faced By Residents Hey! I just paid my maintenance bills ONLINE through ADDA!! What about you? Really? In our Apartment we still use NEFT. Tell me more about ADDA… Photo Credit: Sutirtha Saha, Serene County, Hyderabad
  3. 3. Problems with NEFT & Cheque Processing: Faced By Management Committees Manually Creating & Distributing Receipts to Flats Manual Collection & Deposit of Cheques Manual entry to Accounting Systems Managing Late Payment Penalty for unidentified NEFTs Managing Suspense payments without Name or Flat Number Reconciling each Cheque Processing Returned/Lost Cheques Very High Bank Charges for Bounced Cheques
  4. 4. Hidden Cost Vs Visible Cost Convenience charge for Net banking Rs.10/ transaction VISIBLE COST: ADDA Payment Gateway Charges Total Cost for a 200 Apartment Complex, with Quarterly Billing: Rs.8,000/ year Average Cost of processing each Cheque or Bank Transfer Rs.75/ transaction Total Cost for a 200 Apartment Complex, with Quarterly Billing: Rs.60,000/ year HIDDEN COST: Cheque/NEFT Processing Charges Cost of Cheque to Resident + Conveyance Cost for Depositing + Admin Cost of Accounting Entry.REGULAR CHEQUE: BOUNCED CHEQUE: Admin Cost of Accounting Entry + Time Spent on ReconcilingNEFT: Bank Charges for Bounced Cheque + All “Regular Cheque” Costs repeated for Bounce Cheque replacement. Hidden Cost Breakup
  5. 5. ADDA Payment Gateway: How does it work? Open The ADDA APP View MAINTENANCE DUES, & PAY ONLINE Resident Receives INSTANT E-RECEIPT Money Credited To SOCIETY BANK Maintenance Collection AUTO-POSTED IN BOOK OF ACCOUNTS
  6. 6. Resident gets instant Receipt More payment options – Credit/Debit Card, Net Banking View Bill details and pay against bill No chance of Manual Error Advantages of ADDA Payment Gateway: For Owners, Tenants Maintain Entire History, Receipts of all payments in one place
  7. 7. Easy Collection of Festival contributions, Facility booking, Move-In/Out charges, Payments from in house vendors, etc. Automatic Accounting Entries Bank Charges for Bounced Cheques etc. are avoided. Money reaches bank in T+2 days Saves Admin overhead of preparing, distributing receipts, invoices, etc. Advantages of ADDA Payment Gateway: For Management Committee
  8. 8. One Time Setup Cost** INR 10,000/- Payment Gateway Charge Per Transaction* (Option For Association To Absorb) Debit Card: 1% Credit Card: 2% Net Banking: Rs.10/- ADDA Payment Gateway: Total Cost *Rates subject to revision based on change of charges from payment gateway providers **All costs are exclusive of applicable Taxes. Contact Us to Get Started: 92233-11999

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