Paytm, owned by One 97 Communications that got listed in bourses last month, has expanded its rent payment services to include new categories like car rentals, furniture rentals, wedding services like venue, catering and decor, 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 their bank account or by instantly 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 net-banking.

"Rent payments is an important category for us. The expansion of rent payments feature to include car, furniture rentals, 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”, a Paytm spokesperson said.

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Cashback offer

The platform also offers users an assured cashback of up to ₹10,000 on rental payments through credit cards. 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.

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.

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