India’s leading digital financial services platform Paytm today announced the expansion of its Rent Payments feature. Now tenants can immediately transfer the monthly rent of the house to the bank account of the landlords through credit card. The company has announced a cashback of Rs 1000 on such transactions. Apart from earning cashback on every transaction, users will also be able to collect credit card points from it.
To pay the rent of the house to the landlord, users have to go to the “Recharge and Pay Bills” section on the Paytm home screen and select “Rent Payment”. Users can transfer money directly to their landlord’s bank account with their credit card. Paytm provides users with a flexible facility to pay house rent through various other payment options like UPI, Debit Card, and NetBanking. There is no problem in using this feature, so users only have to enter the details of their landlord’s bank account. Apart from this, no further information will have to be entered. The dashboard helps you track all types of payments, reminds the date of payment, and immediately sends the confirmation of the payment to the landlords.
The Company Wants To Maintain Cash Flow
Paytm Vice President Narendra Yadav said, “House rent in our country is one of the biggest expenses for tenants oftentimes after a certain period. Within a few months of launch, our Rent PayMate feature is already enabling users to maintain cash flow in this uncertain time. It is providing the facility to the users to pay rent as per their credit card cycle. With the expansion of this service, Paytm will retain the market leadership position in rent payment. We are hoping to process a rent worth Rs 300 crore by March 2021. ”
The company is committed to providing users across the country the facility to pay recurring expenses after a certain period, such as electricity and water bills, credit card bills without any hassle. Soon after this, other expenses incurred in the month like a credit card, tuition fees of children, and salary of salary or servants can also be paid soon.