Priority Technology Holdings, Inc. (PRTH) was 15.68% up during early trading on Tuesday. The stock price rocketed after news about company’s agreement with MRI Software emerged.
MRI Software is leading provider of real estate software solutions. Priority and MRI signed a definitive agreement around real estate payment system by Priority.
Priority runs RentPayment business which comprises of real estate payment brands like StorageRentPayment.com, DuesPayment.com and RentPayment.com. MRI is going to acquire that business of Priority as part of agreement. Additionally, Priority will continue providing MRI with services including payment infrastructure for its new platform.
The easiness and ongoing acceptability of multiple payment options are necessary for the residential real estate sector now. Current health scenario changed the business payment system globally. This increased the need of adopting such options more than before, Chief Executive Officer of MRI Software, Patrick Ghilani. Acquisition of payment system from Priority will make MRI able to expand its current payment solution. The deal will help us improve the client experience in using our platform. MRI will now increase its efforts to make sure the availability of its payment solution. The solution will be available to our resident as well as commercial customers. MRI’s clientage spread over major regions of the world including Europe, Asia Pacific and Africa.
The RentPayment business was founded in 1999. It stands among pioneer companies who offered their clients with real estate payment systems. RentPayment is also the first platform in the industry which started providing comprehensive payment solutions for rent payment. RentPayment has currently been holding nearly 2,900 clients across several U.S. markets. Its clients spread across single to multi-family and from storage units to HOA segments. Its different brands help landlord and property managers to pay rent and security deposits using web or mobile.
At the publication, stock price was at the gain of 11.29%.