#Japan #Tokyo #Orix Bank #Fidii Payment #Rease Co.

Introduction to Fidii Payment

In a significant move to streamline the rent payment process, Rease, Inc., a startup focusing on credit technology, has collaborated with Orix Bank to launch a pilot program for their new service, Fidii Payment. This service aims to modernize the payment methods used by rent guarantee companies by incorporating a lease payment advance scheme.

Background and Objectives

Amid changes in civil law in 2020, Japan has witnessed a shift from personal guarantees to institutional guarantees, leading to increased reliance on rent guarantee companies. However, many renters still face challenges due to traditional payment methods, which can result in administrative errors and financial disputes. Additionally, trust in single payment processing services can lead to payment delays, particularly in the case of service provider insolvency.

As more foreign workers settle in Japan, the demand for housing is rising, thereby increasing the administrative burden on rent guarantee companies. To address these challenges and improve the efficiency of payment processes within the sector, Rease has initiated a pilot for Fidii Payment, which will run from August to November. This service not only simplifies payments but also allows rent guarantee companies to focus on core activities such as sales and debt collection.

Overview of Fidii Payment

Fidii Payment is designed to act as a payment processing service for all rent guarantee companies. Its core functionality includes:

• - Collection Services: Handling the payment collection from tenants.
• - Forward Payments: Providing estimated payment transfers to landlords.

During the pilot, Orix Bank will facilitate the transfer of estimated rent amounts from Rease’s bank account to property management companies or owners based on payment instructions given by Rease.

Key Features of Fidii Payment

The Fidii Payment service has notable features aimed at enhancing user experience:

1. Automated Payments on the 26th of Each Month: This allows for predictable cash flow.
2. Deadline for Claims: Rent claims can be submitted up to six business days before the payment date, offering flexibility in management.
3. Rapid Reporting: Rent collection results are provided within as few as three business days, significantly faster than traditional methods.
4. Easy Data Integration: The system is designed to seamlessly connect with the databases of rent guarantee companies.

By enabling earlier payment processing and efficient report generation, Fidii Payment empowers rent guarantee firms to quickly launch debt collection activities, thereby improving their overall operational efficiency.

Next Steps

Feedback gathered from participating rent guarantee companies during the pilot will be critical for refining the service and preparing it for a full-scale launch. Rease is committed to ensuring that Fidii Payment meets the specific needs of the industry, ultimately aiming to make rent payment processing simpler and more secure.

For more details about Fidii Payment or to get involved, interested parties can reach out through the contact form provided on our website.

About Rease, Inc.

Rease, Inc. was founded with the mission to navigate the evolving landscape of the credit-based economy. The company specializes in developing and operating SaaS-based systems that support rent guarantees, promoting better evaluation criteria through over 200 custom credit algorithms. By focusing on the precise credit evaluation of prospective renters, Rease aims to minimize risks for real estate management companies and landlords, facilitating fairer and more flexible lease agreements.

Founded: September 13, 2018
CEO: Yasunori Nakamichi
Location: 6F Nishi Shinjuku Metro Building, 7-9-16 Nishi Shinjuku, Tokyo
Website: Rease
Fidii Payment: Fidii