Paytm has announced a new feature under which people will now be able to pay their house rent easily. If the users pay the rent with a credit card, then their landlord will reach their account directly with the landlord’s bank.
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Know how much will charge
If you pay rent through credit card through Paytm, then users will have to pay an additional charge of 1.65 percent. However, users will be given cashback or rewards for this. For example: If you make a rent payment of Rs 10,000, then they have to pay a total of Rs 10,165. But if you make a rental payment through UPI, Debit Card and NetBanking apart from Credit Card, then they will not have to pay any additional charge.
Not only this, the company has also announced a cash back of one thousand rupees on the payment of house rent with a credit card. That is, apart from cashback on every transaction, users can also collect credit card points from it.
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Here’s how to rent payment from Paytm app:
First open the Paytm app. Then scroll down and tap on Monthly Bills. Then you will be given some options, one of which will be Rent Paytment. Tap on it. After this you have to tap on Proceed given below. Now you have to enter details of your landlord account. After this you will be able to send the fare. Enter the amount of rent This amount will reach the landlord’s bank account in maximum 2 to 3 days. If you make a payment by credit card, you are also given cashback or reward points. This feature also helps you track payments from rent payments. Also reminds the payment date.
According to Paytm Vice President Narendra Yadav, ‘House rent in our country is a big expense which is mandatory to be paid every month. Within a few months of launch, our rent payment feature is helping users to maintain cash flow. According to whatever the credit card cycle of the user is, this feature provides the facility of rent payment to the user. He also said that it is expected that by March 2021, a rent worth Rs 300 crore can be processed.