Paytm expands Rent Payments

NEW DELHI: Digital financial services platform Paytm has announced the expansion of its Rent Payments feature.

Now, the tenants can also 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 1000 on such transactions.

Besides earning cashback on every transaction, users will also be able to accumulate credit card points.

For paying to the landlord, the user simply needs to select "Rent Payment" 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.

Paytm also gives the flexibility to make rent payments through other payment modes such as UPI, Debit Card, Net Banking.

To make it hassle-free, the user only has to enter the landlord's bank account details and nothing more.

The innovative dashboard also helps to track all rent payments, reminds about payment due dates and sends instant payment confirmation to landlords.

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.“