Making it easy for users, digital financial services platform Paytm has announced the expansion of its Rent Payments feature. With the new feature, the tenants will now be able to transfer their house rent instantly to the bank account of their landlords through their credit cards.
Apart from this, the company has also announced a cashback of up to Rs 1000 on such transactions. Besides earning cashback on every transaction, users will also be able to accumulate credit card points.
Putting the transaction process into perspective, Paytm said that the users simply need to select “Rent Payment” from the “Recharge & Pay Bills” section on Paytm Home Screen in order to pay the house rent. And also, the users can transfer money directly from the credit card to the landlord’s bank account.
Besides, Paytm also gives the flexibility to the users to make rent payments through other payment modes such as UPI, Debit Card, Net Banking. Making the transaction hassle-free, the users only have to enter the landlord’s bank account details and nothing more. The dashboard on Paytm also helps to track all rent payments, reminds about payment due dates and sends instant payment confirmation to landlords.
Across India, Paytm said, it is committed to making all recurring payments such as utility bills, credit card bills, hassle-free for users. Payments through credit cards will be enabled for other recurring expenses such as tuition fees, house-help’s salary will be available soon.