News
Housing.com launches ‘Pay Rent’ Platform to enable rent transfers using Credit Card
New Delhi, 30th April 2020: 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.
According to a press release issued by the company, 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 300,000 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.com, Makaan.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.
-
News4 weeks ago
Godrej Properties Sells Rs 3k cr+ Homes of Godrej Zenith, Gurugram, within 3 days
-
News4 weeks ago
RBI’s Status Quo on Key Policy Rates to Help Maintain the Real Estate Growth Momentum, Say Industry Stalwarts
-
News2 weeks ago
Noida’s High-Rise Societies Face Multiple Challenges Despite Rapid Urban Growth
-
News3 weeks ago
Olive Announces Dhruv Kalro as Co-Founder
-
News4 weeks ago
Godrej Properties Sells 5000+ Homes of Rs 9.5 cr in Q4FY24, Bookings up 84% YoY
-
News3 weeks ago
Vestian: Domestic Investors Dominate Institutional Investments in Jan-Mar’24
-
News3 weeks ago
India to become the fastest-growing silver economy, housing up to 17% of the world’s elderly population by 2050: CBRE Report
-
News4 weeks ago
HRERA Gurugram Rejects Godrej Properties’ Project Extension Application, Account Frozen For Prolonged Non-compliances