Paytm has today announced an expansion of its Rent Payment services to include new categories like car rentals, furniture rentals, wedding services like venue, catering and decor as well as guesthouse rentals and society maintenance. This is in addition to the already existing payment solutions for house rent, shop rentals, property deposit, token amount and brokerage fee.
Rent payments can be made directly to the beneficiary’s UPI ID for deposits on his/her bank account or by directly feeding the bank account details. While for the convenience of the sender, the company offers a vast range of payment modes including credit card, debit card, Paytm UPI, Paytm Postpaid (buy now, pay later) and netbanking.
The platform is also offering an assured cashback of up to Rs 10,000 to users on rental payments through credit card. In addition to this, new and existing users can also earn rewards from their credit card’s issuing bank for rent payments on Paytm. By referring a friend to use the rent payment feature, users also stand to win cashback points of 10,000.
Paytm spokesperson said, “Rent payments is an important category for us. The expansion of rent payments feature to include car, furniture rentals, and wedding services payments is to accommodate more use cases and bring more convenience to households. With the wide variety of payment options on Paytm app, users can pay their recurring rental expenses on time every month and also win exciting rewards alongside.”
With the Rent Payment feature, Paytm is enabling users to track & manage payments for all kinds of rental services from the same dashboard, enhancing the overall user experience and convenience.
Rent Payments on Paytm can be done in three simple steps. The user simply needs to select ‘Rent Payment’ from the ‘Recharge & Pay Bills’ section on the Paytm home screen. On the page, they need to fill in the beneficiary’s bank account number or the UPI ID to proceed. Next, they need to enter the amount and then select the payment mode (from credit card, debit card, Paytm UPI, Paytm Postpaid and netbanking).