You cannot pay rent using UPI! #rent #cameenalgoel #finance #money #upi

🚨 RBI has stopped credit card rent payments!

From now on, you can’t pay your rent through credit cards on Paytm, PhonePe, CRED and similar apps.

👉 Earlier the process was:
Tenant → Credit Card (via App) → Fintech App → Landlord’s Bank Account
Landlords were not registered merchants, but apps still routed the money.

❌ RBI’s new rule:

Payment apps can send credit card payments only to registered merchants with full KYC.

Since most landlords are not merchants → rent via credit card is no longer allowed.

✅ What you can still use:
Bank transfer, UPI, cheque, standing instructions, etc.

Reason? To prevent misuse, ensure proper KYC, and bring transparency in transactions.

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#cameenalgoel

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