Now tenants will be able to rent their house on a credit card basis. This feature is made available by Paytm on its own platform. The money will be immediately credited to the landlord’s bank account when paying rent with a credit card. In fact, the digital financial services platform Paytm has expanded its rent payments feature. The company has announced a cashback of Rs 1,000 on credit card payments. In addition to earning cashback on every transaction, users will also be able to deposit credit card points with it.
You’ll be able to pay in this way
A statement issued by Paytm said, “In order to pay rent with the landlord’s credit card, users will have to go to the Recharge and Pay Bills connection on Paytm’s home screen and select ‘Rent Payment’.” Users can transfer money directly from their credit card to their landlord’s bank account. Paytm UPI also offers house rent facility through debit card and net banking. Users will only have to provide their landlord’s bank account details to avoid any hassle in using this feature. Apart from this, no other information should be left. Innovative dash boards related to rent payments help you track all types of payments. It reminds you of the date of payment and immediately sends the confirmation of payment to the landlord.
These features will be added soon
Paytm Vice President Narendra Yadav said, “Renting a house in our country is one of the biggest recurring expenses for tenants after a certain period of time. Within a few months of the launch, our rent payment feature is already enabling users to maintain cash flow at this indefinite time. It is offering users the facility to pay rent according to their credit card cycle. With this service area, Paytm will maintain its market leadership position in rent payments. We expect to process rent worth Rs 300 crore by March 2021.
Paytm has provided users across the country with an excellent facility to pay recurring expenses after a certain period of time, such as electricity and water bills, credit card bills without any hassle. The credit card will soon be able to pay for other monthly expenses such as children’s tuition fees and the salary of a maid or servant.