Zipmark, a payment system that rides on the existing checking network, is working to retire the traditional rent check. It has signed deals with rental payment portals and property management software companies that will enable tenants to pay with an electronic check.
Zipmark, a New York start-up that recently graduated from the FinTech Innovation Lab, has raised $2 million to build out its alternative mobile payment system. Zipmark relies on the existing check-processing infrastructure to create a payment system that is fast, simple and cheap for users.
The FinTech Innovation Lab, an accelerator program for financial tech startups, graduated its first class on Friday. This first batch of companies is bringing some impressive ideas to bear on data, analytics and payments and showing there’s room for new approaches in the financial sector.