Paytm announces the expansion of its Rent Payments feature

Tuesday 9 February 2021 12:13 CET | News

India-based fintech Paytm has announced the expansion of its instant money transfer feature, called Rent Payments.

According to Mint, thanks to the solution, tenants are enabled to transfer their monthly rent instantly to the bank account of their landlords, through their credit cards. Paytm has also launched a cashback of up to EUR 11,34 on such transactions. Additionally, by earning cashback on every transaction, users can accumulate credit card points. 

To initiate the transaction, the user needs to select 'Rent Payment' from the 'Recharge & Pay Bills' section on the Paytm Home Screen. This way, users can transfer money directly from the credit card to the landlord's bank account.

Furthermore, Paytm offers the flexibility to make rent payments through other payment modes such as UPI, Debit Card, and Net Banking. Through the dashboard, users can track all rent payments, set reminders about payment due dates, and send instant payment confirmation to landlords. Besides, the user only needs to enter the landlord's bank account details and nothing more, Mint reported.

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Keywords: Paytm, product launch, India, rent payments, credit cards, cashback, online payments, online transactions
Categories: Payments & Commerce
Countries: India
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Payments & Commerce

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