Now the rent will not be filled with credit card
Credit Card Rent Payment: Now you Credit card Will not be able to pay the fare from Large fintech platforms like PhonePe, Paytm, Cred and Amazon Pay have shut down this facility. This facility was very favorite among the people in the last few years as it used to get benefits like reward points and cashback along with convenience in paying fare. But now RBI has issued new rules on 15 September 2025, after which this facility is over.
According to the new RBI rules, the company that works as a payment aggregator can only transact money for those merchants with whom it has direct contract. Landlords are not included in this list, so Fintech companies can no longer reach the landlord of rent with credit cards.
Why did this strictness come?
In fact, RBI has reported the increasing incidence of KYC rules and increasing incidents of fraud in the reasons behind this decision. So far, it has been seen many times that there was no complete verification while paying the rent from the credit card. Taking advantage of this, some people used to send money to their close account in the name of rent and then used it for wrong things. Because of this, RBI decided that such transactions cannot be done without the right verification. Therefore, rent payment has been banned from credit card.
Rent payment round now ends with credit card
Earlier, tenants used to send money directly to the landlord with credit cards through apps like Cred, PhonePe, Paytm. This used to provide them with cashback, reward points and credit. This also made their monthly budget plan easier. But from 2024, banks were also strict on this facility. HDFC Bank started charging 1% on it in June 2024. At the same time, ICICI Bank and SBI cards stopped giving reward points on such transactions. SBI cards also increased the fees and admitted that the growth of rent payments is now slowing down.
All apps stopped this facility
In March 2024, some fintech platforms stopped the facility of rent payment with credit cards. Now after the new RBI rules, the rest of the fintech companies including Cred have also stopped it completely after the new rules of RBI. Now there will be no option to give rent with credit card.