Abstract: A system operated by a non-bank financial institution (NBFI) for receiving and processing payments made by renters to property management companies, and method of use therefor, are disclosed. The NBFI provides an electronic payment platform for accepting payments from renters of one or more rental communities owned or managed by one or more property management companies. The NBFI platform processes and directs rental payment to the payment processing systems of a partner bank or other financial institution which has bank accounts owned by the rental communities or property management companies. The partner bank directs the renters' payments into the appropriate account after processing.