Categories: Technology

Housing.com launches ‘Pay Rent’ Platform to enable rent transfers using Credit Card

New Delhi, April 30, 2020:  In yet another initiative to support  customers to sail through these challenging times, Housing.com has  launched the ‘Pay Rent’ platform on its  mobile app to facilitate rent transfers using a Credit Card. The ‘Pay Rent’ platform will allow users to transfer rent directly to their landlord’s bank account and generate digital receipts instantly. Along with this, users will get up to 4% in rewards points and cash-back on their Credit Card for using their credit limit to transfer rent.

The ‘Pay Rent’ product has already facilitated over 5,000+ transactions so far through restricted invites, most of them through a Credit Card, and is targeting around 300K transactions by the end of FY21. The target is to reach $1.0 Bn in annual rental transaction run rate by March ’21.

It should be noted that credit card usage and timely repayment will also improve the credit score of the user, thereby helping get credit limit enhancement.

“Rent is probably one of the biggest expenses borne by individuals on a monthly basis. The COVID-19 pandemic has made people want to keep  cash in hand due to economic uncertainty in the near future. Housing.com‘s ‘Pay Rent’ platform will allow users  to maintain their liquidity if needed over the next couple of months by using their credit cards for rent transfers as it allows flexibility in repayment,” says Dhruv Agarwala, Group CEO, Housing.comMakaan.com & PropTiger.com.

Through this platform users will be able to make timely rent payments without using cash, and they can also opt for EMI moratorium on their credit card for a few months to tide them over any liquidity crisis in the current environment. The rent transfer facility will be available for all modes of digital payments including UPI and debit card, for people who do not need the credit.  The product is currently ‘app-only’ and will be  launched on  Housing.com‘s website in the near future.

Corporate Comm India (CCI Newswire)

The Property Times News Bureau

Recent Posts

Line Investments & Property SP LLC Triumphs with 21Awards at MECS+R MENA 2024

Riyadh, November 07, 2024: Line Investments & Property SP LLC, a prominent subsidiary of LuLu…

2 hours ago

Intellion Offices by Tata Realty & Infrastructure Ltd Posts 60% YoY Growth in GCC Absorption

First half of FY 25 continued with strong GCC demand with 80% contribution in space…

3 hours ago

Champion REIT Recognised as ‘GRESB Global Listed Sector Leader’

- Sustainability Leadership Shines in 'GRESB Real Estate Assessment' and 'GRESB x HERA Standing Investment…

21 hours ago

GCCA India joins hands with Xynteo’s Build Ahead coalition to decarbonise India’s construction sector

Mumbai, November 06, 2024: The Global Cement & Concrete Association (GCCA) India and Xynteo announced…

21 hours ago

Sohna emerges as new micro-market in Delhi-NCR; set to add 16000+ residential units in 3 years

New Delhi, November 05, 2024: Haryana’s Sohna is emerging as a new micro-market in the…

2 days ago

Neo Developers Pvt Ltd. Appoints Manpreet Kaur as President – Sales

New Delhi, November 04, 2024: Neo Developers, a leading real estate company has announced the…

3 days ago