One topic that has been dominating the news and our lives lately is demonetisation. While we had touched upon the topic in brief in a previous blog post, our team was working in overdrive to make your day to day lives a lot easier. After much deliberation and hard work RedGirraffe is proud to present RentPay.
RentPay is a unique rental payment service by RedGirraffe, meant for rent payment via credit card.We have tied up with most major Indian banks (list available online)to make the service accessible exclusively to their credit card users. Needless to say that the service would be expanded to include all major credit card issuing banks as well.
To register for the service, a tenant needs an RG ID that is associated with their rental property.Log on to www.redgirraffe.com, click ‘RentPay’,fill in the details and upload the most recent Rent Agreement. Once the form is submitted, a password shall be sent via SMS to the user.This password is to be used to log in to the site & may be changed by the user later.The RG property ID is emailed as well, the tenant now just has to register RedGirraffe as a biller with their bank & RentPay is set up for your monthly rental payment.
Few of the banks and Credit Card companies in India that are going LIVE pan India with RedGirraffe’s RentPay (patent pending) platform are SBI-GE Cards, ICICI Bank, HDFC Bank, IndusInd Bank, Axis Bank and Kotak Mahindra Bank. The company remains integrated with 40 of the largest banks operating in India.
With the start of the month of December, tenants may now schedule rent payments through their credit cards(issued by banks registered for the service) by adding RedGirraffe as a Biller/Beneficiary. RedGirraffe would appear as a ‘Biller’among the ‘Utility’ services. Once added, the tenant may pay the rent month on month or schedule monthly payments.
While conventionally, rent payment is more of a cash transaction,with RentPay you get –
Ø 45-60 days of FREE credit period (FREE credit period varies from bank to bank)
Ø Reward points (Varies from bank to bank on the category of card you hold)
Ø Keep earning interest on the balance available on your savings bank account.
Ø Manage your CASH-FLOW much better.
Ø Get to enjoy additional time-to-time discount offers by banks tailor-made for customers using RedGirraffe.com’s RentPay platform.
Ø The country is moving towards a strong CREDIT SCORE. Payment of rent via CREDIT CARDS helps cement a strong CIBIL score.
Ø A strong CIBIL score gets you better interest rates whenever you were to apply for any loan (eg: Car, Education, Personal, Housing etc) & finally
Ø Every tenant using RedGirraffe’s RentPay platform gets to avail a one-time 5 days brokerage discount in every city that RedGirraffe.com either currently operates (Noida/NewDelhi/Gurgaon) or plans to launch its operation (Mumbai, Pune, Hyderabad, Bangalore, Chennai and Ahmedabad) in the nearest of future.
With this immaculately timed move, RedGirraffe.com has become the first and only company globally to enable residential & commercial monthly rental payments to be transacted via CREDIT CARDS. Do write in to us at rentpay@redgirraffe.com to share your feedback & suggestions.
Tags: fin tech, pay rent with credit card, redgirraffe, rent payment. rental payment, rent through credit card, RentPay, residential rent & commercial rent
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