Digital financial services platform Paytm on Tuesday announced the new feature where the tenants can also transfer their monthly rent instantly to the bank account of their landlords through their credit cards.
Cashback on Transactions
The company has also announced a cashback of up to ₹1000 on such transactions.
The user will not only earns cashback but also they will be able to accumulate credit card points after each transaction.
Paytm rent payment users can call Paytm rent payment customer care number for more details of the offer.
How to do?
For paying to the landlord, the user simply needs to select “Rent Payment” from the “Recharge & Pay Bills” section on Paytm Home Screen.
After that users can transfer money directly from the credit card to the landlord’s bank account.
The innovative dashboard also helps to track all rent payments, reminds about payment due dates and sends instant payment confirmation to landlords.
Comment from Vice-President
Narendra Yadav, “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.
The company is committed to making all recurring payments such as utility bills, credit card bills, etc. hassle-free for 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.” —LiveMint.
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