Pay monthly rentals with SBI Card

New Delhi May 03: Now we can Pay the rental payments through your Credit Card.While coming to point, SBI Card and London-based financial technology RedGirraffe.com have joined hands to provide online rental payments.

This RedGirraffe.com has introduced an option as "RENT PAY". These companies allow the tenants to pay their rent with a credit card for a percentage-based processing fee.

The partnership aimed to tap at least one lakh tenants by next March.It aims to tap into the digital payments market which has gained traction in the country post demonetization and real estate regulatory law.

With this tie-up, SBI Card, which has about 4 million customers, said this platform provides a "trustworthy payment interface" between landlords and tenants.



SBI Card customers can now pay their rentals through their credit card and strengthen their score. "With a strong credit score, they could then avail cheaper loans, by up to 1 percent per annum," CEO Manoj Nair the Founder of RedGirraffe's told. Nair is expecting 1,00,000 customers of SBI Cards to make their transactions using RentPay by March 2018.

CEO of SBI Card Vijay Jasuja said that the company aims to assist users of the portal in free rent transactions using the auto-pay facility of SBI Card.

"We look forward to supporting RedGirraffe.com's endeavor to provide differentiated real estate services that complement the evolving needs and lifestyles of today`s digital consumer, by extending our technologically advanced, user-friendly payment platform," he said.