The mobile payment app Paytm has given a new feature to its users. Through this, now he can pay the rent of the house, even the monthly room rent through his credit card through Paytm. Actually, e-wallet company Paytm has expanded its rent payment feature. Under this, the facility of paying rent directly to the landlord’s bank account through credit card has started. Till now, Paytm had the facility of rent payment only through UPI, Debit Card and Net Banking. The special thing is that on paying the rent through Paytm, users will also get a cashback of up to 1000 rupees. In addition, users will also be able to collect credit card points on the rental payment.
How to pay?
On the Paytm platform, the landlord will have to go to the ‘Recharge and Pay Bills’ section and select the option of ‘Rent payment’. The option of recharge and pay is available on the Paytm home screen. Through this option, you can pay rent directly to the landlord through your credit card. So far, the option of UPI, debit card, net banking etc. was available for rent payment on Paytm. Through this new Paytm dashboard you can track all your rent payments. There will also be an alert for the date of paying the rent. Also, the landlord will get an alert immediately upon payment.
Estimates of 300 million rent payment process by March
Paytm Vice President Narendra Yadav said that paying rent for a house is one of the most expensive expenses for tenants in the country. Within a few months of the launch of the ‘Rent Payment’ service, millions of users transacted through it. Now users can rent payments in their credit card cycle. Yadav says that with the expansion of this service, we will continue to be the market leader in terms of rent payments. Rent payment of Rs 300 crore is expected to be processed on this platform by March 2021.
You know, the benefit of paying the credit card rent payment will be that they can save cash by using the credit limit. Credit card dues usually have to be paid after 45-50 days. In this way, you can use cash in any other important item or you will be able to get good returns by investing in ultra short term instruments. There is also an option in a credit card that the transaction can also be converted into EMI. This means that it can also prove to be an option to overcome liquidity.
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