RentPayment, the largest electronic payments processor in the multi-family industry, recently completed a SAS 70 audit, receiving an unqualified opinion (the highest possible rating) from independent auditors Grant Thornton as to the controls surrounding the RentPaymentOne payment platform. This report asserts that RentPayment's control objectives and related control processes and procedures have been reviewed and architected to effectively meet the control objectives of comprehensive security monitoring, management, and response for their customers.
As with most service providers, RentPayment’s current and potential clients periodically request the type of information included in a SAS 70 audit in order to understand the controls surrounding financially significant processes.
"With the completion of this SAS 70 audit, RentPayment customers can be assured that controls surrounding our RentPaymentOne platform are designed to meet our stated control objectives and are in place as of 12/31/2006. Companies seeking payment processing should expect this type of third-party review be performed on their service provider's internal controls," said Matt Golis, CEO, RentPayment. “We are very pleased to be able to offer this report to our customers.”
A SAS 70 audit requires a thorough examination of the design of internal controls and business operations by an independent third-party comprised of Certified Public Accountants.
RentPayment’s VP of Architecture Jason Chambers comments, “The SAS 70 report is an easy way for customers and prospective customers to know that controls are in place and are being reviewed regularly to safeguard their data.”
The audit, performed by the Salt Lake City office of Grant Thornton, was completed as of December 31, 2006, and encompasses the design of RentPayment’s general controls of their data center and managed services as it relates to operational excellence and security.
RentPayment is the largest electronic payments processor in the multifamily industry, serving over 20 of the Top 50 National MultiHousing Council Property Managers (2006 survey). Founded in 1999, RentPayment's services are available in over 2 million apartment units. RentPayment provides a unified Web-based platform for check scanning, credit card processing, and electronic check processing to the property management industry. RentPayment's headquarters is located in the heart of the Financial District in San Francisco, California, across from the landmark Transamerica building. RentPayment has additional offices in Salt Lake City (UT), Santa Monica (CA), and Santa Barbara (CA).