FONCIA CHOOSES EDENRED TO OPTIMIZE FUND COLLECTION
Foncia, France's largest real estate management company, is teaming up with
Edenred, the world leader in transactional solutions for companies, employees
and merchants, to provide customers with a simple, efficient way of
A new digital payment method
Foncia has chosen Edenred Corporate Payment to develop a digital payment method
for collecting fees and rental income for its 1.4 million condominium owners
and tenant customers: the identified wire transfer.
With this solution, every owner and tenant customer will receive an individual
settlement account number (personalized IBAN) that can be used indefinitely for
each transaction. Consequently, each payment is systematically identified.
In its role as a financial institution, Edenred will ensure the receipt of the
funds and their immediate deposit in the destination account, such as the
co-owners account handled by the condominium's managing agency.
Collecting funds, an often complex process
The new payment method will make it easier to collect fees or rental income as
part of condominium or rental property management operations.
Payment options traditionally offered by Foncia and other property managers,
such as checks and conventional bank transfers, do not allow for optimal fund
The direct debit method generally favored by collectors is not always accepted
by condominium owners and tenants, who sometimes want to control when they pay.
Moreover, it requires setting up a preauthorized payment plan, which may lead
to the risk of refusal. Payment by check requires manual handling, which
lengthens the settlement period. And conventional bank transfers can sometimes
involve payer identification and payment processing problems.
"The goal of this partnership with Edenred is to make the identified wire
transfer an efficient and secure alternative to the check and direct debit
methods. The new solution will enable condominium owners and tenants who don't
want to use direct debit to have control over their payments" said Philippe
Salle, Chairman of Foncia.
"Leveraging our unique expertise in managing transactional ecosystems and our
broad understanding of regulatory frameworks, we are proud to be developing an
innovative digital payment and settlement solution for Foncia. Through our
Edenred Corporate Payment business, we are continuing to develop corporate
payment solutions that will serve as an additional growth driver alongside our
Employee Benefits and Fleet & Mobility solutions" said Bertrand Dumazy,
Chairman and Chief Executive Officer of Edenred.
Foncia is the European leader in residential real estate services. In France,
the Group is the no. 1 player in condominium management, rental management and
rentals and the no. 3 in property management. Foncia also operates in
Switzerland, Germany and Belgium.
In 2017, Foncia managed more than 41,000 condominiums and 350,000 rental
properties, and concluded nearly 72,000 rental contracts, 15,300 transactions
and 15,500 holiday rental agreements.
Foncia supports its customers at every stage of their real estate journey by
offering a comprehensive range of integrated services, including condominium
management, 24/7 solutions, rental management, rentals, sales, purchases,
holiday rentals, appraisals, insurance, building inspections and energy
Foncia has also developed an investment platform for existing and new property,
and real estate paper, with full or subdivided property rights. Through its
Foncia Pierre Gestion subsidiary, the Group also manages real estate investment
trusts (REITs), a top selection of which are made available to its customers
via its Primaliance platform. These REITs hold more than 460 real estate assets
(offices and stores) totaling more than 400,000 square meters.
Follow Foncia on Twitter: https://twitter.com/foncia
Edenred is the world leader in transactional solutions for companies, employees
and merchants. Whether delivered via card, mobile app, online platform or paper
voucher, all of these solutions mean increased purchasing power for employees,
optimized expense management for companies and additional business for partner
Edenred's offer is built around three business lines:
* Employee benefits (Ticket Restaurant(r), Ticket Alimentación, Ticket Plus,
* Fleet and mobility solutions (Ticket Log, Ticket Car, UTA, Ticket
* Complementary solutions including corporate payments (Edenred Corporate
Payment), incentives and rewards (Ticket Compliments, Ticket Kadéos) and
public social programs.
The Group brings together a unique network of 43 million employees, 750,000
companies and public institutions, and 1.4 million merchants.
Listed on the Euronext Paris stock exchange and part of the CAC Next 20 index,
Edenred operates in 42 countries, with close to 8,000 employees. In 2016, the
Group managed almost EUR20 billion in transactions, of which 70% were carried
out via card, mobile device or the web.
Follow Edenred on Twitter: www.twitter.com/Edenred
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