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RESAAS Services shares advance as it launches industry first payment system for referral fees

RESAAS Services Inc (CVE:RSS), the real estate focused technology group, saw shares advance nearly 10% in Toronto Thursday as it revealed it had launched an industry first referral fee payment system.

Resaas Pay allows agents to easily send payment for a referral fee through Resaas.

Typically, these are the fees charged when one agent or broker in the property world refers a client to another.

Resaas will charge a transaction fee for each referral to facilitate the transfer of funds.

"Agents have been using Resaas to find referral partners for years, and we've helped thousands of transactions occur within our community of agents worldwide," said Tom Rossiter, CEO of Resaas.

"Through consistent demand from our agents, we are pleased to provide a more modern approach to paying referral fees with Resaas Pay.

"Resaas Pay closes the loop on the referral experience, and provides additional peace-of-mind, security and ease of payment for the agents involved."

Traditionally, a cheque has been the most common method of payment but they are slow to process, difficult to track and quite insecure, said the firm.

Resaas Pay provides agents with a way to pay the referral fee using credit cards, allowing them to earn points or airmiles.

One of the firm's clients RE/MAX has used Resaas extensively since 2014, under the label of the "RE/MAX Referral Exchange."

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