This is how we are empowering our users to pay rent through credit cards & avail of cashback of up to ₹1000

Going ahead with our endeavour to empowering users with new services, we are happy to announce the new Rent Payments feature. Now, the tenants can also transfer their monthly rent instantly to the bank account of their landlords through their credit cards. We are also offering a cashback of up to ₹1000 on such transactions. Besides earning cashback on every transaction, our 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. We also give 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, our Vice President shared, “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 crore by March ‘21.”

We are committed to making all recurring payments such as utility bills, credit card bills, etc hassle-free for our users across the country. Soon, payments through credit cards will be enabled for other recurring expenses such as tuition fees, house-help’s salary, etc.