NoBroker, Housing.com launch digital payment options to help tenants in times of coronavirus
Property portal.com on Friday said it has tied up with HDFC's payment app to offer more rewards on rent payment while News Corp-backed announced launching a feature in its mobile app to enable tenants to pay rents by using credit and debit cards.
Both Housing.com and NoBroker said that rent payments through credit cards have increased as many people are facing liquidity issues during this COVID-19 pandemic.
NoBroker.com, a brokerage-free real estate portal that connects property-owners and property-seekers directly, has "partnered with HDFC's payment app PayZapp to offer greater rewards on rent payment."
The offer is valid on paying rent via NoBroker's rent payment feature 'NoBroker Pay', which was launched in October last year, the Bengaluru-based firm said in a statement.
"We are tirelessly working to come up with solutions that would benefit our consumers in these times when many people are suffering the liquidity crunch. We are happy to partner HDFC's PayZapp, a recognised player in the financial domain," said Akhil Gupta, co-founder and CTO of NoBroker.
Meanwhile, Housing.com said in a separate statement that it has launched the 'Pay Rent' platform on its mobile app to facilitate rent transfers using a credit card as well as debit cards and other digital mode.
The 'Pay Rent' platform will allow users to transfer rent directly to their landlord's bank account and generate digital receipts instantly, it said adding that users would get cash back and reward points.
"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. Our platform will allow users to maintain their liquidity if needed over the next couple of months by using their credit cards for rent transfers, says Dhruv Agarwala, Group CEO, Housing.com, and PropTiger.com.
NoBroker Pay allows payment of rent via credit cards, UPI, and wallets.
"The platform has already noticed a spike in the number of tenants using credit cards to pay their monthly rent as it allows them a buffer period of up to 45 days," NoBroker said.
Last month, NoBroker.com raised $30 million (Rs 230 crore) from General Atlantic for business growth. Singapore-based Elara Technologies, co-founded by Dhruv Agarwala, owns realty portals PropTiger, Housing and Makaan.com.
In January this year, US-based News Corp and its Australian group firm REA made a fresh investment of around $70 million (Rs 500 crore) in Elara Technologies.