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Processor: PayArc

Introduction​

In Q4 of 2023, Lendiom partnered with PayArc as our primary payment processor. This decision was based on PayArc’s strong support capabilities, deep understanding of the real estate industry, and customer-focused approach. With PayArc, Lendiom can offer lower processing rates, enhanced service, and direct access to human support for our users—landlords and property managers.

Processing Fees​

PayArc’s fees vary by business, but Lendiom guarantees that rates will not exceed the following:

  • Credit Card Transactions: 3.4% + $0.35 per successful transaction
  • ACH (Bank) Transactions: 1.0% + $0.30 per successful transaction

To view your specific processing rates, visit the PayArc section within the Lendiom platform.

Monthly Fees​

PayArc imposes a minimum monthly fee for both credit card and ACH processing:

Credit Card Processing​

  • Covers costs such as statement generation, direct deposits, and PCI compliance.
  • The fee decreases as transaction volume increases, rewarding higher usage.

ACH (Bank) Processing​

  • Optional service with a minimum monthly fee of $10.

PCI Compliance​

Since each business operates as its own merchant, maintaining PCI compliance is your responsibility. PayArc facilitates this process by sending a PCI Compliance Questionnaire email via Security Metrics.

Compliance Process​

  1. Complete the basic questionnaire to confirm PCI compliance.
  2. Call PayArc support if you need guidance—they’re available to assist.

Important: Using the Lendiom-PayArc integration inherently ensures PCI compliance. You just need to complete the questionnaire for verification.

Non-Compliance Fees​

Failure to complete the questionnaire will result in additional monthly charges:

  • After 60 days: $29.95 per month.
  • After 180 days: $49.95 per month.

We strongly recommend setting aside 30 minutes to complete the questionnaire promptly.

Transaction Timing​

Cards​

Card payments will normally fail or succeed within one business day. Then, it takes one or two business days for the payment to show up in your bank account (even more if your merchant account has funding delays).

ACH​

ACH payments will normally take 10 to 15 business days to complete. The flow usually goes:

  1. Client makes a payment
  2. 10 to 15 days later, it shows up in your bank
  3. 3-5 days later, Lendiom shows it as successful

Note: We understand it takes a long time, but there's nothing we can do to expedite this.

Should an ACH payment fail, it will happen within the 10 to 15 days.