Zentra first to offer resident key in Google Wallet for apartments

CARMEL, Ind. - Zentra, a brand of Allegion US (NYSE:ALLE), a $15 billion market cap security solutions provider with a perfect Piotroski Score of 9 according to InvestingPro, announced Wednesday it has become the first provider to offer resident key capability in Google Wallet for multifamily properties. The new feature allows residents to add their apartment access credentials to Google Wallet and unlock doors with a tap of their Android phone or Wear OS by Google smartwatch.

The technology enables residents to access building entrances, amenity spaces, and their individual apartments without physical keys or fobs. The contactless solution works with near-field communication (NFC) technology built into compatible devices.

"With resident key now available in Google Wallet, Zentra is expanding what modern access looks like for multifamily communities," said Mark Vigren, vice president, Sales & Field Marketing at Allegion, according to the company’s press release.

The solution has been implemented on several Allegion products, including the Schlage XE360 Series, Schlage Control Smart Lock, and multiple Schlage mobile-enabled readers and controllers.

For property managers, the company claims the technology can reduce operational costs associated with managing physical keys while offering residents a premium experience. The system utilizes Google Wallet’s security features to protect access credentials.

"This innovation not only simplifies daily life for residents but also supports property managers in creating a truly premium living experience," said John Goodwin, vice president, general manager, Multi-Family Access at Allegion.

The announcement represents an expansion of digital access solutions in the multifamily housing sector, where contactless entry systems have gained popularity. Zentra’s parent company Allegion manufactures security and access products under several brands including Schlage, CISA, and Von Duprin. With annual revenue of $3.88 billion and strong financial health metrics, Allegion continues to demonstrate market leadership. InvestingPro analysis shows the company trading near its 52-week high, with 11 consecutive years of dividend increases, reflecting sustained growth and financial stability. For comprehensive insights into Allegion’s performance and future prospects, investors can access detailed Pro Research Reports available on InvestingPro, covering over 1,400 top US stocks.

In other recent news, Allegion plc has reported several significant developments. The company launched its new Schlage Performance Series Locks, designed to address the rising costs in non-residential construction by offering mid-tier solutions for commercial real estate and multifamily projects. Additionally, Allegion’s board of directors declared a quarterly dividend of $0.51 per share, payable on September 30, 2025, to shareholders of record as of September 15, 2025. In terms of mergers and acquisitions, Allegion has acquired Brisant Secure Limited, a UK-based security hardware provider, which will enhance its presence in the UK market.

Analyst activities have also been notable, with Barclays upgrading Allegion from Underweight to Equalweight, citing improvements in non-residential construction markets. Barclays also raised its price target for Allegion to $163.00. Similarly, Mizuho increased its price target to $170.00, maintaining a Neutral rating, following discussions with Allegion’s management about the company’s resilient market position. These recent developments reflect a period of strategic growth and stability for Allegion.

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