PAYLOAD’S KEYBOX RECORDS 800% GROWTH IN 2021 ELIMINATING PHYSICAL CHECKS AND WIRE TRANSFERS IN RESIDENTIAL REAL ESTATE
Originally Developed for Earnest Money Transactions, Keybox Has Expanded to Handle Agent Payments and Closing Disbursements
CINCINNATI, OHIO – January 19, 2022 – Payload, a versatile fintech platform designed for ease of funds-transfer across multiple industries, launched its real estate specific platform, Keybox, in 2020 to digitize the traditionally manual and tedious Earnest Money Deposit (EMD) payment workflow. Payload’s Keybox growth beyond earnest money transactions has grown dramatically to include other critical residential real estate payments including agent invoicing, broker/agent commissions, title closing disbursements, title and mortgage fees, and rental/property management fees. Over the last eighteen months Payload’s Keybox seamless integration has been widely adopted by real estate brokerages including Long & Foster, and title companies such as Florida Agency Network, with nearly 400 new locations signing on in 2021, including their first Canadian brokerage. In 2021, Payload’s Keybox processed $ 300 million in real estate transactions and anticipates approaching the $1 billion mark for real estate transactions processed by end of 2022.
Payload Keybox is integrated with SkySlope, DotLoop and DocuSign, which are the primary software platforms utilized in residential real estate transactions, as well as several back-office platforms, with multiple software integration announcements expected in early 2022. “We believe that Keybox will revolutionize the residential real estate industry, given the significant level of adoption we’ve already experienced across the software and brokerage communities,” said Ryan Rybolt, CEO of Payload. “Check and wire fraud continues to be rampant; so, our advanced level of security, speed of payment and low per-transaction fees make Keybox incredibly attractive to real estate professionals and home buyers,” Rybolt noted.
Payload’s Keybox is a Payment Card Industry Data Security Standard (PCI DDS) Level 1 certified platform, the most stringent of all PCI DSS levels, based on the PCI Security Standards Council for the safety and security of payment processing. All financial information is securely transferred through end-to-end encryption from the originating device to Payload’s PCI certified vault. Payload’s Keybox proprietary machine learning and risk monitoring systems employs real-time rigorous penetration and vulnerability testing and scanning. Learn more about how Payload’s Keybox is automating the collection and reconciliation of real estate payments, safely and securely at https://keybox.payload.co.
Payload’s platform is also ideal for other professional service categories of business that are invoice/billing intensive, such as law firms, accounting and consulting firms, marketing services firms, as well as subscription-based and membership-based business models. The platform safely and securely streamlines and automates the entire process, resulting in significant time savings and more dynamic cash flow.
About Payload
Payload is a financial technology platform that uses innovation and simplification to transform digital payments. By seamlessly integrating into the existing software of a range of industries and businesses, Payload automates historically manual payments using cutting-edge API design. Enhancing security, saving time, and saving money are key to scaling modern businesses. Payload’s revolutionary payment technology is built to enhance the flexibility and power of industry-leading partners. To learn more about how Payload helps modern businesses grow intelligently, visit: www.payload.co
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