- Rent Payments through credit cards with ₹1,000 cashback
- Instant money transfer to landlord’s bank account
- Dedicated dashboard for tracking all transactions
Paytm has today announced the expansion of its Rent Payments feature. Using this feature the tenants can transfer their monthly rent instantly to the bank account of their landlords through their credit cards. The company has also announced a cashback of up to ₹1,000 on such transactions. Apart from the cashback, users will be able to accumulate credit card points.
For paying to the landlord, the user simply needs to select the “Rent Payment” option from the “Recharge & Pay Bills” section on Paytm Home Screen. Users can transfer money directly from the credit card to the landlord’s bank account. Apart from the Credit card, users can also make rent payments through other payment modes such as UPI, Debit Card, Net Banking. Additionally, Paytm is providing an innovative dashboard that helps to track all rent payments, reminds about payment due dates, and sends instant payment confirmation to landlords.
Commenting on the launch, Narendra Yadav, Vice President – Paytm said, “House rent is one the highest recurring expenses for tenants in our country. Within few months of the launch, our Rent Payment feature is already enabling millions of users to maintain liquidity in these uncertain times and pay the rent as per their credit card cycle. With the expansion of this service, Paytm will continue its market leadership in rent payments and we are expecting to process rents worth Rs. 300 crores by March ’21.